{"id":4500,"date":"2018-04-24T19:37:39","date_gmt":"2018-04-24T19:37:39","guid":{"rendered":"https:\/\/genhq.com\/?p=4500"},"modified":"2022-07-25T14:04:44","modified_gmt":"2022-07-25T14:04:44","slug":"what-it-really-means-when-millennials-kill-an-industry","status":"publish","type":"post","link":"https:\/\/genhq.com\/what-it-really-means-when-millennials-kill-an-industry\/","title":{"rendered":"What it Really Means When Millennials \u201cKill\u201d an Industry"},"content":{"rendered":"<p>It seems there\u2019s a new headline every day about Millennials \u201ckilling\u201d a different industry. According to some hyperbolic articles, <span style=\"text-decoration: underline;\"><a href=\"\/things-millennials-killing\/\" rel=\"noopener\">Millennials are to blame<\/a><\/span> for the demise of marriage, doorbells, napkins and even breakfast cereal. But what\u2019s really going on?<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-4501\" src=\"https:\/\/genhq.com\/wp-content\/uploads\/2018\/04\/Millennial-Are-killing-1.gif\" alt=\"\" width=\"870\" height=\"500\" \/><\/p>\n<p>\u201cThe real issue is not that Millennials are killing industries or businesses, but that businesses aren\u2019t adapting,\u201d explains <span style=\"text-decoration: underline;\"><a href=\"https:\/\/jasondorsey.com\/\" target=\"_blank\" rel=\"noopener\">Jason Dorsey<\/a><\/span>, President and Co-Founder of the Center for Generational Kinetics.<\/p>\n<h4>3 Industries that Need to Adapt to Millennials<\/h4>\n<p><strong>Here are <span style=\"text-decoration: underline;\"><a href=\"http:\/\/www.bbc.com\/capital\/story\/20180118-what-will-millennials-kill-this-year\" target=\"_blank\" rel=\"noopener\">three industries likely<\/a><\/span> to feel the Millennial disruption this upcoming year:<\/strong><\/p>\n<h4>Restaurants<\/h4>\n<p>Despite the fact that some chain restaurants are struggling to keep up with change, it that doesn\u2019t mean the industry is dying.<\/p>\n<p>\u201cThe rate of change has been accelerated by <span style=\"text-decoration: underline;\"><a href=\"\/millennials-are-leading-the-smartphone-revolution-in-the-workplace\/\" target=\"_blank\" rel=\"noopener\">mobile technology<\/a><\/span> and the size of the generation,\u201d says Dorsey. \u201cMany of these legacy industries have hid behind <span style=\"text-decoration: underline;\"><a href=\"\/the-generations-hub\/generational-faqs\/\" rel=\"noopener\">Baby Boomers<\/a><\/span>, and they can\u2019t hide anymore.\u201d<\/p>\n<p>Dorsey predicts an uptick in \u201cgroceraunts,\u201d grocery stores that offer healthy prepared or easy-to-prepare meals that people consume at home. We can also expect to witness the rise of the \u201cghost restaurant\u201d, a delivery-only restaurant that essentially doesn\u2019t exist beyond its online presence.<\/p>\n<p>\u201cIt\u2019s delivery only, through a mobile app,\u201d Dorsey explains, \u201cwith three to five restaurant concepts sharing one commercial kitchen.\u201d<\/p>\n<h4>Luxury Goods<\/h4>\n<p>While it\u2019s true Millennials are not buying items like diamond rings and expensive cars, it doesn\u2019t mean they aren\u2019t spending.<\/p>\n<p>In fact, CGK found that Millennials broke their spending record last year, opting mostly for short-term indulgent experiences like <span style=\"text-decoration: underline;\"><a href=\"\/millennial-consumers-are-buying-but-not-what-you-think-2\/\" rel=\"noopener\">weekend trips<\/a><\/span>, spa days, and wine tours. However, more are opting to rent luxury goods, such as cars and designer clothes, but only when necessary.<\/p>\n<h4>Gyms and fitness centers<\/h4>\n<p>\u201cMillennials are going to kill the traditional gym, no doubt about it,\u201d Dorsey says, but at the same time, fitness and wellness are more important than ever.<\/p>\n<p>Instead of free weights and circuit training, he says, the future is in specialized fitness classes. For traditional gyms to stay relevant, they\u2019ll need to adjust offerings to include classes, community-centered facilities, and convenience services like babysitting and juice bars.<\/p>\n<p>Check out what Denise Villa, the Center\u2019s CEO, shared with <span style=\"text-decoration: underline;\"><a href=\"http:\/\/www.healthclubmanagement.co.uk\/health-club-management-features\/9480\/32326?utm_source=dlvr.it&amp;utm_medium=twitter\" target=\"_blank\" rel=\"noopener\">Health Club Management<\/a><\/span> about the <span style=\"text-decoration: underline;\"><a href=\"\/gen-x-looks-health-club\/\" rel=\"noopener\">changing needs of the younger generations when it comes to fitness!<\/a><\/span><\/p>\n<p><em>Do have a generational challenge with sales, marketing, strategy, or employment that you want solved? Contact us. Our talent is driving measurable results across generations.\u00a0<\/em><span style=\"text-decoration: underline;\"><a href=\"mailto:Info@GenHQ.com?subject=I%27d%20like%20a%20little%20info%20on%20generational%20speaking%20and%20research\" target=\"_blank\" rel=\"noopener\"><em>Email us here<\/em><\/a><em>\u00a0<\/em><\/span><em>if you\u2019d like a little info on our customized generational speaking, research, and consulting.<\/em><\/p>\n<p><strong><em>Interested in more cool stats, facts, and insights for bridging generations? Follow us \u00a0<a href=\"https:\/\/twitter.com\/GenHQ\" target=\"_blank\" rel=\"noopener\">@GenHQ<\/a> and <a href=\"https:\/\/twitter.com\/jasondorsey\" target=\"_blank\" rel=\"noopener\">@JasonDorsey<\/a>. We are passionate about sharing our latest generational discoveries.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It seems there\u2019s a new headline every day about Millennials \u201ckilling\u201d a different industry. According to some hyperbolic articles, Millennials are to blame for the demise of marriage, doorbells, napkins and even breakfast cereal. But what\u2019s really going on? \u201cThe real issue is not that Millennials are killing industries or businesses, but that businesses aren\u2019t [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":4501,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,21,1],"tags":[],"class_list":["post-4500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-millennials-aka-gen-y","category-selling-and-marketing","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What it Really Means When Millennials \u201cKill\u201d an Industry - The Center For Generational Kinetics<\/title>\n<meta name=\"description\" content=\"It seems there\u2019s a new headline every day about Millennials \u201ckilling\u201d a different industry. According to some hyperbolic articles, Millennials are to blame for the demise of marriage, doorbells, napkins and even breakfast cereal. But what\u2019s really going on?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/genhq.com\/what-it-really-means-when-millennials-kill-an-industry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What it Really Means When Millennials \u201cKill\u201d an Industry - The Center For Generational Kinetics\" \/>\n<meta property=\"og:description\" content=\"It seems there\u2019s a new headline every day about Millennials \u201ckilling\u201d a different industry. According to some hyperbolic articles, Millennials are to blame for the demise of marriage, doorbells, napkins and even breakfast cereal. 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