The Changing of the guard is rarely a comfortable experience.
Especially when the “older generation” doesn’t understand or accept the new kids in town.
I’m referring to the new “older generation” of Baby Boomers.
Just like today’s Millennials, “Boomers” were met with similar resistance as they became the dominant force in the marketplace.
At that time, Boomers were 77 million strong. They were a formidable group with enormous influence AND purchasing power.
Ironically, today’s Millennials are approximately 77 million strong with their new concepts of influence and purchasing power. They’re smarter, faster and more digitally adept than any prior generation. And we need to embrace how their passion for technology is changing the way we live.
They are the Kings and Queens of social media and their “digital tendencies” are forcing companies to change their marketing strategies in order to keep up with them.
Example: These kids don’t clip coupons like their parents. Instead, they use apps to seek out the best deals and promotions.
Therein lies the opportunity for the “astute listener” of the market.
Companies that recognize and adapt to this shift in purchasing power will be long term winners. Those who don’t make this transition will fade away like the Kodak company.
(Kodak created the first “digital camera” but decided it wouldn’t work… They went from $16 Billion in sales to bankrupt in a few years).
Let’s face it. Millennials get a lot of bad press. (I’m as guilty as the next person).
But many of the labels we put on them is a result of not understanding how and why they do what they do.
Don’t discount this group.
Learn how to profit on this unstoppable trend in our January Newsletter (HERE).
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