The Millennials
Born 1980 - 1995 Approx. 70MM people Diverse $360 billion spending power
Our focus: Born between 1980-1990; age 18-28
“Imagine technologies that allow us to communicate withanyone, anywhere and at any time.”
Newsweek Article, 1980
Commercial Driver:Anyone, Anywhere, Anytime
“We have come to a point where any ofus can realistically imagine contactingany other of our 6 billion (counterparts)…And, of course, this means we can affectlives everywhere and learn about lifeanywhere.”
Anyone, Anywhere, Anytime
Constant connection is an entitlement
– Cell phone is one possession thatcollege students can’t live without
– Crackberry, literally: studies findtexting is addictive
What happened to Natty Lite?
12% drop in dollar share
Source: Neilsen Reportsstudy of 21-30 year-olds
Economic Driver: Go your own way
“New research from many quarters hasstarted to show that even when growthdoes make us wealthier, the greaterwealth no longer makes us happier .”
Helicopter Parents
The Safety Net: Millennials may be the first generation whereparents have spent more income on children than on selves
The typical 22 year-old, 1980…
Finished with education… married or engaged… caringfor a child or planning for one… starting a career
The typical 22 year old, 2008
• Years away from marriage
• Years away from parenthood
• Still pursuing education
• Just starting to consider career paths
By age 25, life is on a trajectory that can’t be traced to the end of the next fiveyears
One year from now…
My final year in school I hope to have as much fun as possible. Unfortunately thismentality can also mean that I can muck it up and procrastinate too long. We shall see.
One year from now I hope to be in the south of France being fed grapes by a colony ofbeauties. Again, we shall see.
Jerrod, 21Sonoma University
Cultural Driver: Postponed adulthood
“Marriage, home, and children are seen not asachievements to be pursued but as perils to beavoided… Adulthood represents a closing of doorsthe end of independence, the end of spontaneity, theend of a sense of wide-open possibilities.”
-Jeffrey J. ArnettEmerging Adulthood
Commercial DriverAnyone, Anywhere, Anytime
Cultural DriverPostponed Adulthood
Economic DriverGo your own way
AGE OF SELF-EXPLORATION
Age of Self-Exploration
Career Leeway
Parental Encouragement
Cultural License
Sense of Security
Technological Ability
Itineraries are the enemy
Challenge: How to promise aninteresting/fulfilling trip withoutthe burden of an itinerary?
The answer is yes
I’m going to rest and relax
AND I’m seeking adventure/excitement
AND I want entertainment
AND I’m going to celebrate a special event
AND I’m going to a small town
AND I’m going to a city
AND I’m going to the beach
AND I’m going to the mountains
AND I’m going to the lake
Getting something out of it
“Introspection is a large part oftravel. You want to go somewhereand get something out of it… It’sa chance to take yourself out ofyour comfort zone and learnsomething about yourself.”
College Bridge Year
"In the world that Princeton'sgraduates will enter over the nextdecade, international perspectives andexperiences will be more important thanever before. A new bridge year programhelps our students thrive as citizensand leaders in that world, andincreases their ability to appreciate allof the elements of a Princetoneducation."
“It’s tough to make predictions, especiallyabout the future.”
1. Increased interest in and travel to foreigndestinations.
“It’s tough to make predictions, especiallyabout the future.”
1. Increased interest in and travel to foreigndestinations.
2. Rise in long-term vacations and “sabbatical” trips.
“It’s tough to make predictions, especiallyabout the future.”
1. Increased interest in and travel to foreigndestinations.
2. Rise in long-term vacations and “sabbatical” trips.
3. Family travel that fulfills need to explore.