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Millennials have reshaped the world in the past 10 years.
- Millennials have helped reinvent the world in the past decade.
- As they've aged into the part of life where they'll be hitting many of their peak life milestones, they've delayed big events like homeownership and marriage.
- Millennials want an easy life - one that's accessible, convenient, comfortable, full of experiences, and looks good on Instagram.
- Industries have shifted to cater to millennials and startups have sprung up to fill in gaps in the market.
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"Millennials are changing everything."
That's what many a media headline - including my own - has proclaimed over the past decade.
It may partially be a tired trope by now, but there's also truth to it. Millennials are doing things differently than their parents, and it's having an effect on the American landscape and beyond.
In 2010, the generation turned ages 14 to 29. In 2020, they'll be turning 24 to 39. Throughout these past 10 years, they've entered young adulthood and started hitting peak life milestones. The generation also represents the strongest sector of the job market and the world's most powerful consumers.
Here's a breakdown of how that's helped them transform the world:
- Personal Life: Financial constraints are pushing millennials to delay homeownership and marriage, causing them to transform the face of the traditional American family.
- Retail: Millennials have taken to spending their money online or on experiences, causing retailers to shift strategies or shut down. They've made the wedding and luxury industries more casual and have fueled growth in the wellness industry.
- Tech Innovation: Millennials' penchant for social media and convenience has created new industries and many startups.
- Activism: Diverse, indebted, and depressed, millennials are speaking up about everything from mental health and money to social issues, pushing their concerns to the front of the conversation.
It's worth noting that these trends also apply to other generations, but millennials are leading the way. Here's how millennials have reinvented the world in the past decade.
