Today’s millennials are the first generation to come of age in the new millennium, and they’re quickly making their mark. This cohort is already having a significant impact on the economy, and their spending habits will only become more influential as they age. For one, they’re far more likely to start their businesses than previous generations.
Studies show that nearly 60% of millennials want to be their own boss, and that number will only grow. What’s driving this generation’s entrepreneurial spirit? Many experts believe it’s a combination of factors, including the desire for better work/life balance and the fact that they’ve grown up during a time of economic uncertainty.
But what really sets millennials apart is their attitude towards lifestyle. This generation is all about convenience, health and wellness, and travel. Here’s why many millennials are into these three lifestyle trends.
1. Convenience is Key
For millennials, convenience is critical. They want products and services that are easy to use and require minimal effort. This may seem like they are lazy and entitled, but it’s a practical way to live. With the hectic pace of life today, who has time to waste?
This generation is also used to getting what they want right away. Technology has made instant gratification the norm, and millennials have come to expect this level of service in all areas of their lives. This goes from buying their essentials to making significant purposes, like their home.
Take the rising demand for condominiums as an example. Millennials do online research and would instead buy a condo than a traditional house because it requires less maintenance and is often located in a more convenient location. They get to stay in their preferred city where they can easily go to where they need to be, be it their office, favorite restaurant, or mall.
For instance, many millennials in the Philippines are tapping the market searching for a condo for sale in Shaw Boulevard. This is because this place is in the city’s heart, making it easier for them to go around and enjoy an urban lifestyle. They also consider this a convenient investment that they can turn into a passive income source in the future. While they’re at it, they do enough research, find a suitable unit to accommodate their needs, and offer the type of convenience they need to live a comfortable lifestyle.
2. Health and Wellness is a Top Priority
Millennials also have their eyes set on their health and wellness. They want to live long, healthy lives and enjoy their retirement years. This generation is willing to invest in their health to reap the benefits later on.
One way millennials prioritize health and wellness is by exercising regularly. Statistics show that in 2020 alone, 68.7% of millennials participated in fitness sports in the U.S. They’re also more likely to eat healthy and organic foods and are willing to pay premium prices.
This focus on health and wellness doesn’t just stop at physical fitness. Mental health is also a top priority for millennials. They’re more likely to suffer from anxiety and depression than previous generations because of the high levels of stress they experience in their daily lives.
To combat these mental health issues, many millennials are turning to therapy and other forms of treatment. They visit therapists more frequently than any other generation. This is because they’re more likely to seek help for their mental health issues and are more comfortable improving their mental wellbeing. This includes things like therapy, meditation, and yoga.
3. Love for Traveling
Finally, millennials have a strong desire to travel. They want to see the world and experience different cultures. This is likely because they’re more connected to the world than any other generation before them.
Social media has made it easy for them to see what’s out there, and they’re not afraid to go after it. These days, many people would share their travel stories and photos online, inspiring others to do the same. This wanderlust has led to a boom in the travel industry.
More and more millennials are taking advantage of opportunities to travel. This led many to choose remote work, embrace being a digital nomad, or participate in international volunteering programs. Their love for experiences has also made them more willing to spend their money on things like travel.
In conclusion, millennials are a generation driven by convenience, health and wellness, and a love for travel. They’re willing to invest in their future and always looking for new experiences. More people from other generations follow suit thanks to these millennial lifestyle trends. So, if you want to live a healthier, more convenient, and exciting life, then adopting millennial lifestyle trends might be the way to go.