Millennials are young, but they are old enough to change life as we know it. They are consistently providing that anyone can transform the world, regardless of age. And millennials show no signs of slowing down any time soon, either.
You don’t have to look far and wide to see how millennials are serving as difference-makers. Now, let’s look at three areas in which millennials have already changed life as we know it — and how they will look to continue to do so in the future.
1. Spending Habits
Many millennials earn a college or university degree but leave school with student loan debt. As such, they tend to be more fiscally responsible than Generation Xers and baby boomers. Case and point: consider how millennials approach the real estate market.
The housing market has been booming in 2021, which has made it tough for many millennials to buy residences. However, some millennials have considered building their own houses as an economical alternative to purchasing homes.
Furthermore, research indicates most millennial homebuyers are not looking for the “perfect” home. Rather, they tend to prefer “fixer-uppers” and are willing to commit the time, energy, and resources necessary to upgrade an existing residence in lieu of buying a new one.
Expect millennials to continue to be financially savvy shoppers in real estate and other areas going forward. Meanwhile, millennials’ spending habits may extend to their children, leading to a new generation of budget-conscious consumers.
Millennials often want the best healthcare benefits, and they are willing to search for them. They also want healthcare that is fast, convenient, and personalized. That way, millennials can quickly get the healthcare services they need, exactly when they need them, and delivered according to their specifications.
In addition, research indicates about 44% of millennials born between 1981 and 1988 have been diagnosed with a chronic medical condition. Migraines headaches, major depression, and asthma were the most common chronic medical condition diagnoses among these millennials. Fortunately, millennials are typically willing to explore treatment options to prevent their chronic medical conditions from escalating.
When millennials pursue medical treatment, they are generally more interested in working with female doctors than their male counterparts, too. This may be because female doctors display credibility and authority in a way that male doctors cannot necessarily match.
Healthcare is important to millennials, and it will likely remain a key tenet of their daily lives. Millennials are driving changes in healthcare, which could lead to improved medical care and treatments for people young and old.
By spearheading the “selfie culture,” millennials have brought to light the importance of self-perception. Millennials have raised awareness about the value of self-worth. And millennials have highlighted the fact that no matter how someone looks, he or she has value and deserves to be treated with respect and dignity.
Millennials are promoting the idea of self-documentation as well. They use their smartphones, tablets, and other mobile devices to capture images and save and share them with global audiences. This ensures millennials can document their daily lives in ways that no other generations previously could. The result: millennials can document their lives and help future generations see what life was like in the early 21st century.
Finally, millennials have pushed the envelope in terms of traditional marketing relative to self-perception. Many businesses still use traditional forms of advertising to engage with millennials and other groups. Yet, companies are increasingly getting feedback from millennials and uncovering new ways to connect with them. Businesses may do more of the same in the years to come, so they can effectively promote their products and services to millennials.
The millennial generation continues to evolve, and the future looks bright for this group. As millennials get older, they will make ongoing contributions to everyday life that may have far-flung effects on people around the world.