NEWSWIRE: 9/11/17
- Lynette Lamb, a 60-year-old freelancer who rented a desk at a local co-working space, found her new environment jarring. Lamb presents a laundry list of Millennial-centric observations (“The water glasses are Mason jars”) before asking, “What would my grandfather...make of this place? Nothing tangible produced, everyone sitting on their duffs, staring at screens.” (Star Tribune)
- NH: While the Boomer reporter notes that these achieving Millennials brag about the number of countries they have visited (e.g., Kenya or Mongolia--places very few Boomers visited by age 30), she also reports that they are strikingly ignorant of geography. Older generations grew up having to internalize mental maps of their location. Because of GPS and menu-driven websites, youth have grown up typing and clicking--and are unaccustomed to 2-D spatial representation. (See: "Generation Snowflake: Really? (Part 3 of 3).")
- Lululemon grew its revenue by 13% in Q2 2017 thanks largely to an increased emphasis on lifestyle fitness. The company is doubling down on yoga and meditation classes as well as investing in new athleisure products—a winning strategy given Millennials’ love of in-person experiences and everyday fitness. (MediaPost)
- NH: Lululemon is a dynamo that appeals perfectly to the educated and affluent of all of today's generations. The company was founded by Boomer Chip Wilson, a libertarian human potential movement visionary who planted "self growth" at the very core of the brand. Its performance-wear products sell well to Gen Xers who love the look and feel of opt-out individualism and gnostic mindfulness. (Until recently, all executives were required or strongly urged to attend Landmark Forum, an EST-like human-potential training program.) And Lululemon's gender-neutral athleisure lines sell very well to Millennials--especially to those young blue-zone bicoastals, mostly women, who have degrees and money and want to project an unaffected achiever persona (as exemplified in its "This is Yoga" campaign.) Overall, the firm successfully joins Boomer ideals and Millennial aspirations. (See: "The Aging of Aquarius.")
- Columnist Peter Weber says that America could use a Gen-X president. He’s right to point out that this generation’s trademark no-nonsense pragmatism and latchkey-kid autonomy would be valuable traits to help steer the country through tumultuous times. (The Week)
- NH: By my reckoning, America already had an Xer president, Barack Obama (born in 1961, the same birth year as Generation X novelist Doug Coupland). Obama himself has said many times that he belongs to the pragmatic generation that comes after Boomers. But it's also true that he has little in common with most other political leaders among first-wave Xers (born in the 1960s)--who lean strongly to the GOP, flaunt a tough-talk libertarian streak, and have fond coming-of-age memories of Ronald Reagan. (See: "Incoming Gen Xers Carry the Midterms.")
- A new ad by Brooklyn-based And/Or, called “This Is a Generic Millennial Ad,” pokes fun at popular Millennial stereotypes. The ad, made exclusively using stock footage, starts with a fitting voiceover that proclaims, “You are unique. You are different. You are special.” (Advertising Age)
- A growing share of “craft” beer is being produced and shipped by Big Beer-owned brewers. With Big Beer titans like Anheuser-Busch buying their way into the craft movement, many true craft brewers—especially midsize ones—are finding it tough to move barrels. (The Wall Street Journal)
- Across the globe, just 33% of Millennials support politicians who take controversial or divisive positions. While this figure suggests that Millennials are afraid to push for radical change, the share is much higher in developed economies like the United States (51%), where young consumers are fearful of ending up worse off economically than their parents. (Deloitte)
- NH: Approaching the United States in the share of Millennials who not only want "radical transformation" but also invite "controversial" and "divisive" positions are the U.K. (48%) and France (46%). Think of the strong youth votes for Bernie Sanders, Jeremy Corbyn, Jean-Luc Mélenchon, and Marine Le Pen. Millennials are generally far less optimistic about the political status quo in emerging economies (28%) than they are in emerging market economies (48%). They are likewise much less likely to believe they will be better off than their parents.
- Bombardier’s new extra-roomy passenger jet isn’t selling well thanks to lukewarm demand from airlines. Quite simply, most cash-strapped travelers (especially Millennials) who just want to get from point A to point B aren’t willing to pony up the cash for perks like wider seats. (The Wall Street Journal)
- Epidemiologist Loretta DiPietro urges Boomers to get up and move before they are unable to walk at all. Boomers already have poor eating and exercise habits—and their desk jobs, long commutes, and sedentary lifestyles are putting them at even more risk for health problems as they age. (National Public Radio)
- NH: What's remarkable about the study by DiPietro et al. is that it didn't just correlate lifestyle and health--but rather analyzed prospective data from initially healthy adults and thus could actually draw causal inferences about the impact of sedentary living on poor health. The study makes clear that these seniors (mainly Boomers and Silent) suffer not just from the large share who get little vigorous exercise, but by the large share who do little but sit all day--especially those who watch the most TV.
- T-Mobile is offering family-plan subscribers free access to Netflix in an effort to lure customers away from AT&T and Verizon. As the share of Americans with smartphones reaches its peak, carriers are offering sweeter deals to get a larger slice of the pie. (The Wall Street Journal)
- A new op-ed piece explores the rise of the Millennial “hustle.” While Millennials are often dismissed as lazy and entitled, contributor Dan Lyons makes a poignant comparison: “A century ago, factory workers were forming unions and going on strike to demand better conditions and a limit on hours. Today, Silicon Valley employees celebrate their own exploitation.” (The New York Times)
DID YOU KNOW?
The Gilded Sharing Economy. We’ve written before about how Airbnb-style platforms pose a threat to the hotel industry’s bottom line. (See: “Hotel Earnings Are Up—but for How Long?”) Now, these services are even starting to compete in hotels’ last big stronghold: the luxury space. After acquiring high-end rental website Luxury Retreats, Airbnb is rumored to be launching an ultra-premium service, Airbnb Lux, that will enable travelers to live like a celebrity. For the sophisticated traveler, rental startup Plans Matter lists only modern-style houses designed by renowned architects. Each Plans Matter listing even comes with a handwritten note detailing any interesting architectural backstories along with any design awards won. Other firms like Hipcamp have gone all-in on providing a unique experience: Its customers can book a stay at exclusive locales such as private vineyards and nature preserves. While high-end hotels may still have brand recognition in their corner, their advantages over the sharing economy are waning.
