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Why Millennials Don't Want To Buy Stuff

Why Millennials Don't Want To Buy Stuff | Papers | Scoop.it

Compared to previous generations, Millennials seem to have some very different habits that have taken both established companies and small businesses by surprise. One of these is that Generation Y doesn't seem to enjoy purchasing things.


The Atlantic's article "Why Don't Young Americans Buy Cars?" mused recently about Millennials' tendency to not care about owning a vehicle. The subtitle: "Is this a generational shift, or just a lousy economy at work?"


What if it's not an "age thing" at all? What's really causing this strange new behavior (or rather, lack of behavior)? Generational segments have profound impacts on perception and behavior, but an "ownership shift" isn't isolated within the Millennial camp. A writer for USA Today shows that all ages are in on this trend, but instead of an age group, he blames the change on the cloud, the heavenly home our entertainment goes to when current media models die. As all forms of media make their journey into a digital, de-corporeal space, research shows that people are beginning to actually prefer this disconnected reality to owning a physical product.


Via ddrrnt
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Rescooped by Complexity Digest from Social Foraging
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The Semantic Economy

The Semantic Economy | Papers | Scoop.it
We’ve recently seen Facebook go public with a $100 billion valuation and General Motors, formerly the world’s biggest company, go effectively bankrupt and need to be bailed out by the US government.Meanwhile, the new web darlings, Instagram andPinterest, have built communities of millions of people in a matter of months, not years and they have done it with a staff that can fit in my living room (which, I might add, is not that big).
What’s amazing is that we have come to take things like these in stride. Such events have become not exactly the rule, but not the exception either. In short, we have witnessed the complete transformation of business as we knew it. The scale economy has become the semantic economy, where value chains have been subsumed by value networks.

Via Ashish Umre
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