By Lauren Coates
At Anderson Robbins Research, we are constantly collecting information on various demographics and trends in the business world. One of the most fascinating is the Millennial generation. Every week on this blog we will be sharing a post on how the media is covering this generation and the data being published about us. I say “us” because I myself am a proud Millennial.
It has been said time and time again that Millennials are not only changing the way companies conduct business with customers, but also affecting how those companies construct their workplace. The first story of interest this week comes from Steve Tobak at Fox Business. The piece centers around the idea that rather than following in the footsteps of Baby Boomers or Gen Xers who went straight from school to the workforce, Millennials have opted for a less typical path. There is an increasing number of Millennials joining the “gig economy” of self-employed part-time workers. Whether it be driving for Uber, renting to Airbnb, or establishing an online presence, Millennials are drawn to jobs that allow them flexible work hours and freedom to pursue their passions. So the question that remains is should Millennials adapt to the workplace or should the workplace adapt to the new generation? The answer is up for debate.
The next story making news, is actually about Millennials choosing Netflix over news. Joon Ian Wong from Quartz explains that the Millennial generation is more than willing to pay for digital content, but it has to the content that they want. A recent study found that half of Millennials will pay for “premium entertainment” such as Netflix or Spotify, but only about a third will forfeit their money for educational content, like online learning courses or paid job postings. As Wong points out, Millennials have frequently proven that we are willing to pay more for higher quality items, such as organic food or eco-conscious products, so it shouldn’t be that shocking that they are willing to pay for top notch entertainment.
I’m looking forward to writing this weekly blog. To make sure you don’t miss an installment follow us on Twitter @ARResearch.