In wealthy societies, people have seldom been shy about spending their hard-earned cash on desirable services and goods. However, over time the popularity of certain consumables inevitably wanes. Indeed, in recent times, millennials have seemingly abandoned such resources for other items, putting some businesses in danger. And keeping that in mind, we’ve compiled a list that details some of the high-profile casualties.
20. Warehouse shopping
Before online shopping came to the fore, visits to the supermarket could prove to be pretty challenging. But warehouse stores like Costco and Sam’s Club were worthwhile alternatives. These shops were packed with different products, allowing you to buy whatever you needed in bulk. Unfortunately, though, the internet has had a negative effect on business.
Instead of traveling to the warehouses, millennials are more inclined to shop remotely. University of Virginia-based Kim Whitler, who works at the Darden School of Business, told the Showbiz Cheat Sheet website, “Today’s adults are not spending a lot of time shopping like my parents’ generation did. Gen X, Gen Y, Gen Z, they’re all time-starved and want to order groceries while they’re riding a bus to work.”
Yes, you read that correctly. For some people, a doorbell is the most obvious tool to signal their arrival outside a house. But that’s not the case with millennials, as we’re about to discover. Indeed, thanks to smartphones and instant messaging, they can just fire off a quick text when they reach their destination.
To further prove that point, an individual on social media tweeted about the doorbell’s downfall in June 2019. The message quickly generated a lot of attention, with thousands of Twitter users admitting that they don’t utilize the tool any more. For them, “ding-dong” is now a relic from years gone by.
18. Fabric softener
After a long week at work, the thought of doing the laundry can be somewhat daunting, especially if there’s a huge pile. Regardless of those feelings, though, it’s a job we need to complete. But when the time comes to use the washing machine, why don’t millennials utilize fabric softener?
As you might’ve noticed, fabric softener has suffered a downward turn in recent times. Statistically, the industry lost 15 percent of its custom from 2007 to 2015, according to Fortune magazine. It’s believed that refined washing powder played a significant role in that drop, as some of those products made softeners obsolete in the minds of millennials.
17. Snail mail
There were times years ago when a visit from the mailman was highly anticipated. After all, you might’ve been waiting for an important letter or bill to arrive at the house. However, millennials are less likely to be sitting near their mailboxes today thanks to the rise of the internet.
Instead of sending out a physical letter in the post, millennials will probably choose to fire off an email or instant message. Those pesky financial statements can be accessed on the web too. Meanwhile, online wedding invites have come to the fore as well, hinting that “snail mail” could be fading away.
16. Life insurance
As many of you will no doubt attest, planning for the future can be incredibly daunting. That’s especially true if you’re looking ahead to a time when you’ll no longer be around to support your family. But while life insurance policies are important, millennials have been somewhat reluctant to sign themselves up.
That might not sound too surprising at first, yet the reasoning could catch you off guard. For you see, a previous research project highlighted that younger people would be interested in getting life insurance. However, the financial costs put many of them off, even though policies are said to be less expensive for individuals their age.
15. Gym memberships
Unless you had your own set-up at home, the gym was the go-to place to build up your fitness in the past. And if you were a regular, there’s a good chance that you had some form of membership. Surprisingly, though, millennials have been less inclined to follow that path, as we’ll soon find out.
Indeed, younger people have shown an interest in various alternatives to the gym, either for financial reasons or flexibility. Backing that up was an interview with the boss of FitReserve on newspaper the New York Post’s website in October 2016. Megan Smyth said, “Millennials don’t want to be tied down. It’s a spontaneous demographic.”
14. Lottery tickets
If you want to win big money, the lottery is the perfect game at which to try your hand. Unlike other forms of gambling, you just need to buy a ticket and hope that your numbers come up in the draw. The rewards can be life-changing, yet millennials have shown little interest in playing it.
A poll conducted by Gallup from 2016 highlighted that fact, focusing on residents from the United States. According to the results, around 30 percent of millennials participated in the lottery during that time. That was significantly lower than the late middle-aged group, as more than 60 percent of them took part in the game.
When it comes to alcoholic beverages, there will be a large number of people who continue to champion beer. Regardless of the brand, this tasty drink has remained hugely popular down the years. However, its place at the top of the tree is coming under severe threat thanks to millennials.
From spirits to wine, the younger generation are finding alternatives to beer, with the stats backing that up. The beverage covered 65 percent of a millennial’s alcohol consumption in 2006, but the number dropped to 43 percent ten years later. “If this trend continues at the pace it is today, by 2030 beer will no longer have the largest share in the alcohol category,” CEO at Anheuser-Busch InBev’s Joao Castro Neves told AdAge in October 2017.
12. Movie theaters
If you’re a fan of film, the movie theater is a sacred place. But in the last few years, millennials have been swerving the cinema in their droves. Back in 2012, 8.7 million people in that age-bracket visited theaters. But by 2015 that figure had dipped by about three million, according to the New York Post.
On that note, the head of the AMC theater chain spoke about the problem with Variety magazine. Adam Aron said, “There are pockets of consumers who do not see as many movies as other segments. We can be doing more to attract those people. Millennials come to mind. We need to reshape our product in some concrete ways so that millennials go to movie theaters through their lives.”
Unlike the blood and thunder of football, golf is a much more reserved sport. Yet despite that, professional players are still under pressure to pull off victories on the grand stage. And away from the major tournaments, amateur golfers are also given a chance to test their skills on local courses.
But according to Golf Operator Magazine, the sport is in a precarious position thanks to millennials. Although they don’t take all of the flack, the younger generation have been accused of shunning golf in significant numbers. Due to that, it could very well fade away in the years to come.
For the older generation, cruise ship vacations were heavily romanticized. These luxurious boats would give them a taste of the high seas, and an opportunity to meet like-minded people on board. In more recent times, though, millennials haven’t shown the same levels of enthusiasm for cruises, which we’ll get into now.
One of the biggest hurdles relates to perception. Indeed, it’s believed that cruise ships aren’t ideal holiday spots for millennials because older people love them so much. Due to that, youngsters have been reluctant to embrace the activity like their elders did, causing the business to suffer as a result.
9. Bars of soap
After using the bathroom, most of us wash our hands with soap to eliminate any residing germs. Whether it’s in a bottle or a bar, the suds get the job done and leave us feeling fresh. However, it’s claimed that millennials are less inclined to utilize the latter when the time comes.
Younger people are said to have a negative perception of soap bars, according to the Cheat Sheet website. Apparently, they think the products retain bacteria. That might go some way to explaining the results from a study by Mintel on this topic too. In that account, only 33 percent of ladies in the age-bracket said they cleaned their face with a bar of suds.
When people sit down to eat meals in their home, they like to have all of the correct utensils available to them. Alongside that, some individuals look to keep napkins nearby, just in case things get messy. Yet millennials aren’t that keen on the aforementioned serviettes, with the numbers backing that up.
Indeed, statistics quoted by website Cheat Sheet cited that 60 percent of homeowners bought napkins from stores in 2003. By 2018, however, that figure had dropped to 40 percent. In terms of the reasoning, millennials are said to view paper towels as a better alternative, as they serve the same function at home.
7. Alarm clocks
For those of us who couldn’t wake up on our own accord, alarm clocks were perfect tools to keep around the bedroom. Thanks to their loud chimes, we didn’t have to worry about oversleeping on work and school days. But the arrival of newer technology might make these products obsolete going forward.
Cell phones today are loaded with extra features to make the user’s life a lot easier. Timers and alarms are among those additions, serving the same purpose as our old alarm clocks. Due to that, millennials have bumped the latter item from their bedside tables, with the phone taking its place.
6. Motorbikes and cars
When it comes to choosing a mode of transport, we all have our own preferences. Surprisingly, though, both the motorbike and car industries have taken a hit in recent times, with the finger of blame landing on young people. As expert David Beckel said to Harley-Davidson, “Younger millennials, thus far, have shown dramatically lower interest in riding motorcycles than prior generations.”
Staying with that, it’s widely believed that millennials are reluctant to splash the cash on lavish motorbikes. They have a similar mindset regarding cars too, but that’s not all. With the number of transport options available right now, many youngsters don’t see the need to drive or attain their license straight away.
As we all know, breakfast is the most important meal of the day. It gives us the fuel we need for the hours ahead, whether it’s in the form of a slice of toast or a bowl of cereal. However, it seems the latter option isn’t a popular choice for millennials, who’d rather go for something else in the kitchen.
According to a market research business called Mintel, younger people believe that cereal is a time-consuming meal. Unlike other breakfast options, they’d have to dedicate a period to cleaning the bowl and utensils before leaving the house. Instead, millennials prefer food that they can eat on the way to work.
When you think about fast-food, a couple of golden arches will probably pop into your head. Indeed, McDonald’s has been delighting customers since it first opened in 1940, with the restaurant offering a variety of meals. Yet in 2014, experts noted that the famous brand was struggling to connect with younger consumers.
The Wall Street Journal dedicated an entire article on the subject in 2014, arguing that millennials had lost interest in McDonald’s. It’s believed that they’re more inclined to eat “healthier” items at other restaurants. Furthermore, the lack of customization is said to be a problem as well, with chains like Five Guys giving customers more control over their orders.
In the past, cable television was a dream for small-screen fans across the country. Thanks to the service, people had access to a huge number of channels that covered various interests. However, much like some of the other entries on this list, advancements in technology could signal its end.
While previous generations wouldn’t dream of cutting the cord, millennials are doing it in their droves, according to the Cheat Sheet website. As it turns out, they’re opting for streaming platforms like Amazon Prime and Netflix instead. Having an entire series available at the touch of a button has left cable companies in a difficult position.
For many of us, buying a house is one of the biggest moments of our entire life. It not only signals the next stage of our adulthood, but it also presents us with a new set of challenges. Keeping that in mind, why are millennials showing a reluctance to purchase property for themselves?
Unsurprisingly, the costs are a major issue. Real estate figures have only gone up in the last few years, leaving millennials in a tough place. If they can’t afford the deposit, the opportunity goes up in smoke. Meanwhile, older people are adding to the problems too. By refusing to downsize, youngsters have fewer options available to them.
In years gone by, young adults had a real drive to get married as soon as possible. After all, if you found your soulmate, why should you wait? Website MoneyTalksNews revealed in March 2020 that in America alone, 58 percent of residents older than 18 were already hitched by 1990. But 25 years later, that number had decreased.
Indeed, the figure stood at 50 percent in 2017. Now, millennials seem to be biding their time before tying the knot in the United States. The U.S. Census Bureau claimed that the average age for married men was 30 in 2018, while ladies held off the big day until they were 28.