NEWSWIRE: 10/2/17
- Roughly half (51%) of all college students believe that it is "acceptable" to shout down a "very controversial speaker" so that he or she cannot be heard. Furthermore, nearly half (44%) believe that hate speech is not protected by the First Amendment—a novel re-interpretation of the Constitution that is raising eyebrows even among left-wing faculty. (Brookings Institution)
- NH: Prioritizing teamwork and consensus--and expecting to be sheltered against "hurtful" statements--college-age Millennials don't see much purpose in tolerating (much less listening to) unpopular points of view. When President Truman was asked why the public called him Give-Em-Hell Harry, he explained that "I just tell the truth, and they think it's hell." Millennials, apparently, believe that if they think it's hell, you shouldn't be allowed to tell the truth. (See our pieces: "Is the Public Square Disintegrating?" and "Are Millennials Giving Up on Democracy?")
- Following AfD's strong showing in Germany's national elections (at 12.6% of all voters), an overtly right-wing party will be represented in Germany's parliament for the first time since the defeat of the Third Reich in 1945. AfD’s surprising finish is the latest manifestation of the spread of Euroscepticism—and is a damaging blow to the reputation of incumbent Angela Merkel. (National Public Radio)
- NH: As is true in most of the rest of continental Europe, the vote for the Eurosceptic AfD tilted young, not old. Older Millennials and younger Gen Xers led the advance, with 15% of voters age 30-45 voting AfD. (The AfD got the largest share of votes, roughly one quarter, from voters who had never voted before.) Meanwhile, older Boomers and Silent (age 60+, at 9%) were least inclined to vote AfD. Merkel's CDU-SCU registered the biggest loss (-8.5%), throwing a shadow on her gigantic reputation on the eve of her fourth chancellorship. The liberal mainstream SPD also lost further ground (-5.2%)--so much for benefitting from a "grand coalition"! The younger Green and Left parties showed little change. The other big gainer, other than the AfD (+7.9%), was the free-market FDP (+5.9%).
- Contributor Casey Williams notes that, throughout their lives, Boomers have always been the biggest influence on the auto industry. Whether they’re driving cars to get away from their parents or to transport their grandchildren, Boomers have always wanted to be behind the wheel. (Chicago Tribune)
- NH: Yes, all their lives Boomers have set the tone in the auto industry. In 1965, the runaway success of the Ford Mustang set the tone for the young Boomer muscle car. In 1983, the runaway success of the Chrysler Minivan (along with the appearance of baby-on-board Millennials) set the tone for the midlife Boomer family vehicle. Today, the marketing of a 1,000 HP Chevy Camaro and a $100K F-450 pickup truck sets the tone for the opulent nostalgia of Boomer seniors. It's not just the large Boomer numbers. It's also how this generation's passionate lifelong attachment to independence, risk taking, and mobility have been thematically embodied in the auto industry's biggest brands. Early-wave Xers (born 1960-70) share partly in the sun-setting glory of this car-nut enthusiasm. But younger generations? The data don't lie: They just look on and wonder what the hell that was all about.
- Gen-X contributor Rosa Silverman marvels at Millennial teetotalers and light drinkers. In contrast to Silverman’s own formative years, during which “everyone I knew was binge-drinking weekly by 14,” today’s young adults are more interested in living healthy lives than getting wasted. (The Telegraph)
- NH: Juice crawls rather than bar crawls in the Big Apple? See our article on this: "Where the Wild Things Aren't." Since this is reporting on the U.K., see also our account of the lagged arrival of Millennials in Europe: "Here Come the Global Millennials." Let me close with an excerpt from this Xer reporter: "Research by Heineken last year found 75 per cent of millennials said they limited their alcohol consumption on most of their nights out; self-awareness and staying in control were found to be the motivating factors... Living life with reckless abandon is hardly compatible with the new, calculated style of life-as-performance. But as I walk past the gender-neutral toilets at the King’s student union, I’m reminded how non-drinkers were once regarded with suspicion on campus and were definitely not cool. Now, it seems, truly anything goes."
- Op-ed contributor Sarah Holmes says that Millennial parents should be known as “passenger-plane parents.” She believes that Millennials, who have grown up in a technology-rich age of instant gratification, are driven as parents to find collaborative experiences that work for their kids as well as themselves. (Adweek)
- NH: OK, I get it, "passenger plane" does evoke something new about today's Xer and Millennial parent. Whereas "helicopter" Boomers ostentatiously chose to impose their restrictions and limits on kids in an era (most of the '80s and '90s) when society was not supportive, today's parents are more likely to play alongside their kids in an era when "family" is more celebrated by media, schools, and communities. Sarah Holmes (of Magid, a marketing firm) exaggerates a bit the role of Millennial parents: Most kids older than 4th or 5th grade still have Gen-X parents. Holmes also originally came up with the label "Plurals" for the post-Millennial generation we call "Homelanders." Other candidates include "iGen" and "Gen Z." One can only wonder which term will eventually gain general acceptance.
- Fully 60% of college seniors say that they would postpone having children in order to work abroad. This viewpoint makes sense: Millennials are already putting off the traditional markers of adulthood, and would relish the chance to experience the world through work-abroad programs. (Graebel/Cite Research)
- Minority households and Americans without college degrees have experienced the largest proportional income gains since 2013. While this suggests that the economic recovery has finally spread throughout society, the income gap between the wealthiest and everyone else continued to widen during this time period. (Federal Reserve)
- NH: The biggest reason the young and noncolleged did best from 2013 to 2016 was the steep drop in gasoline prices since mid-2014 and in food prices since mid-2015. This gave a big boost to median real household income in 2015 as reported by the Census. Growing employment (especially among the young and less skilled) gave another boost in 2016. Perhaps a more remarkable story that jumps out of the Fed's new 2016 SCF report (only one is released every three years) is the ongoing aging of wealth in America. Thanks to fat portfolios, QE, and booming asset prices, the Silent Generation towers even higher than before over the living standards of their children and grandchildren. The real median income of households age 75+ rose by a surprising 36%--over three times faster than any younger age bracket. And the real median net worth of households age 75+ rose by 32%, again beating out every younger age bracket. Incredibly, the net worth of a typical 80-year-old American is today more than double the net worth of a 50-year-old householder. (As recently as 1995, they were equal. Further back, quintegenarians always enjoyed a fat wealth margin over octogenarians.)
- Youth trends expert Alison Hillhouse suggests ways that grandparents can engage their Homelander grandkids in the digital age. In addition to highlighting the perks of always-on connectivity enabled by FaceTime, Hillhouse correctly pinpoints homemade “unboxing” experiences as a surefire Homelander hit. (MarketWatch)
- Contributor Henri Steenkamp notes that Millennials are saving their money, but not investing it. He believes that Millennials see the stock market as an outdated relic of their parents’ era—but in reality, this generation would simply rather play it safe in a no-risk checking account. (Entrepreneur)
DID YOU KNOW?
Experience the Ad Revolution. We’ve discussed before how brands are struggling to get themselves heard in an age of ad blockers and cord-cutting. (See: “Who Watches the Ads?”) Some firms believe they’ve found the answer: experiential marketing. In May, M&M’s launched an augmented reality experience in Times Square that transformed more than a dozen billboards into an AR arcade that consumers could view through their smartphones. Others are teaming up: MasterCard and Swarovski, for instance, embarked on a joint virtual reality experience whereby consumers could view Swarovski chandeliers in various virtual rooms before buying them using MasterCard’s Masterpass. What’s driving this trend? In addition to reaching consumers in the physical world, experiential initiatives build the sort of emotional connection that brands value. Bryan Icenhower, president of experiential ad agency IMG Live, says that the tactic “engages all five senses, sparking emotions that form lasting memories which have been shown to drive brand loyalty.”
