The younger generations, being the main customers of the next few decades, are very essential in terms of determining market trends: below is how the digital world influences them.
One marketplace that has notably been influenced by millennials and technology statistics is that of entertainment. As countless media varieties are gradually leaving their standard platforms, such as tv channels and radios, and moving on to online providers, things like the formatting of content and advertising need to follow up. The consumption statistics, motivation of the likes of Vodafone’s Canadian shareholder, indicate how young adult do not view appliances like a television set as a necessity, alternatively preferring the adaptability of a laptop computer or smartphone screen: the millennial entertainment trends show content consumption occurring on smaller screens, as numerous watch their favourite show on their phone during their commute to work.
With a generation of millennials growing up with technology, it is expected that fields such as marketing and advertising need to adapt to the latest digital platforms if they want to appeal to their emerging target audiences and still be relevant in the contemporary market. Even those referred to as generation Z are today growing to be adults and getting in the world of university education or the job market, so a large proportion of the main consumers will soon be digital babies. Content is therefore becoming more interactive, briefer: gone are the days where one would spend ten minutes in front of the television watching adverts waiting for their movie to start again: if an ad is not eye-catching in its first few seconds, it will be skipped.
Probably just about the most significant shifts in the last ten years concerning the retail sector, and in most of its subfields, is the exponential growth of online platforms. As recent research studies show that the most downloaded apps on smart phones are the biggest internet-based shops, the millennial consumer trends indicate that markets are not fundamentally a primarily physical establishment today. Needless to say, an sector that is thriving because of this is that of network suppliers, as indicated by investments by influential figures like Telecom Italia’s US shareholder. In the age where limitless data and next-day delivery are not only a perk, but something that is demanded, companies seriously have to appeal to this demographic to stay relevant.
Contemplating how most interactions presently, from work to relatives to everyday enquiries, are based online, the very high millennials smartphone ownership statistics do not come as a big surprise. With the relevance of social media being not only a distraction, but for so many a way to organise their life, setting up events and staying in touch with the essential groups of folks in their lives, some businesses such as those added in Wind Telecom’s parent company are even supplying social media-specific allowances in their data packages, just so that their use is not restricted.