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Fully 58% of Millennial travelers want to explore the world with their friends, 20% higher than any other age group. Millennials’ team-oriented mentality and their proclivity to spend money on experiences rather than things will be a boon to group travel for years to come.
Summer youth unemployment has hit its lowest level since 1969. Despite low unemployment in industries that typically attract younger workers, Millennials are eschewing the summer paycheck in favor of long-term investments in their future like summer courses and unpaid internship opportunities.
Viacom and Turner took a revenue hit after cutting the number of commercials aired on TV. As ad-free streaming services continue to take eyes away from traditional television screens, networks are trying (and failing) to get ad executives to pony up for expensive TV ads.
Rich Cohen argues that Generation X is better suited to lead America into the future than Boomers or Millennials. His generational analysis is spot on: While Boomers and Millennials tend to view society through a utopian lens, Xers’ overall sense of detachment and cynicism has prepared them for the dark days that have arrived.
T-Mobile is offering a special two-line discount for its 55+ consumers, who the company calls “a generation of rule breakers.” Coupled by an ad campaign that trashes other carriers’ subpar senior plans, T-Mobile’s latest effort is yet another example of how brands are going all-out to cater to this massive generation.
In a satirical op-ed, Millennial contributor Alexandra Petri apologizes for “killing everything.” One of the rare Millennials to strike back against Boomer-levied criticism, Petri writes that she wanted revenge on Boomers who “forced me to live in my parents’ basement, then mocked me for living there.”
FX is now offering a low-cost, ad-free viewing and streaming experience—for Xfinity customers only. While cord-cutting continues to plague the industry, the network hopes that rewarding those who haven’t yet cut the cord will ease the pain, at least temporarily.
Luxury handbag upstart Senreve hopes that its logo-free products win over Millennial fashionistas. The company’s strategy is sound: While affluent Boomers wanted the world to know that they could afford Gucci, inclusive Millennial shoppers are motivated by quality rather than flash.
Companies and individuals are turning to Surkus, an app that pays people to stand in line and actively engage in events. While “crowdcasting” may be a turnoff for Boomers and Xers who shudder at the thought of brands selling out, this tactic is a novel way to generate buzz—real or not.
New data show that Millennials are being scammed by online fraudsters who pose as job recruiters. Desperate for work and inherently trusting when it comes to Internet communications, Millennials present the perfect target.
Deloitte is shifting away from diversity groups: The company is phasing out its women’s initiative and ending a support service for gay employees. Rather than marking a progress reversal, these efforts are designed to appeal to Millennials who want everyone, not just certain groups, to be included.
Only 32% of 38- to 52-year-olds believe that they will reach their long-term financial goals, the lowest share of any age group. Although Xers have plenty of time to grow their net worth, this glass-half-empty generation was indeed hit particularly hard by the financial crisis.
Just 4% of U.S. consumers say they order groceries online at least once per week. There are some products (groceries included) that consumers would just rather buy in person—which explains why Amazon paid a premium to get into the brick-and-mortar grocery game.
New research shows that Americans over age 65 are underreporting their annual income by roughly one-quarter because many fail to take their retirement income into account. Already far better off financially than younger generations, the Silent also have access to cushy defined-benefit pension plans that are further boosting their net worth.
Contributor Prashant Gopal argues that Baby Boomers who refuse to sell their homes are dominating the housing market. He makes a point: Unlike previous generations of elders, Boomers are aging in place rather than heading to senior facilities—which leaves many would-be Millennial homebuyers out in the cold.
Cord-cutting Millennials have discovered a new way to avoid cable: TV antennas. As it turns out, the generation that has grown accustomed to free entertainment has debunked the persistent myth that “rabbit ears” don’t pick up broadcast TV signals anymore.
Bank of America has become the last of the four largest U.S. credit card issuers to enter the premium rewards card market. As the deals get better for consumers, some experts are worried that the hot credit card market may be close to boiling over.
A new survey shows that Millennial women trail their male peers in most measures of financial health, from financial satisfaction to debt levels. Millennial women’s higher educational attainment relative to men means that more are saddled with massive student loan debt—yet a lack of pay equity limits their ability to pay down this debt.
Psychology professor Jean Twenge writes that smartphones and social media have made Homelanders a sheltered, mentally fragile bunch. While this dire piece leans heavily on the negative effects of tech, it’s true that Homelanders are an inward-focused generation that may be susceptible to mental health issues borne from digital immersion.
Traditional real estate developers in New York City are getting into the co-living business. This is a smart move: Most Millennials don’t mind sharing spaces and love the idea of a built-in community—particularly if it saves them a few bucks.