Why Did Millennials’ Life Priorities Change?

For several years Millennials have changed their lifestyle concerning previous generations. But, at this moment we ask ourselves: Why? Certainly, Simone Fasanella expresses that age influences how Millennials think. Well, technology and digitalization have led each group to analyze the situation in a different way. Millennials are the trend that studies how they spend their time. They seek to know their interests and above all their needs.

A study published by Nielsen Holdings Global, a leading global company in data measurement and analysis, revealed the diverse generational lifestyles from how we live, eat, play, work, and above all save for our future. The data of the study are based on traditional values, such as getting married, having children, and buying a house. However, they are not a priority.

Loyalty to jobs no longer walks with Millennials, because they are almost two times more predisposed to leave their job after two years and 1.5 times after five years, compared to those of Generation X and Baby Boomers.

As Millennials age, the perspective of seeing the world in a drastic way, such as their lifestyle and being fit, changes. This thinking oscillates in 39% of Millennials. However, for Generation X it is at 51% and for Baby Boomers at 60%. Likewise, making money for Millennials is a priority of 36%, but in Generation X that preference drops to 32%, and in Baby Boomers it is reduced by 21%.

26% of Millennials want to live in big cities and 22% own homes as a priority. On the contrary, the other generations shy away from urban capitals. Only for 17% of Millennials, it is important to get married and 13% of their goal is to have children. 48% of Millennials save money every month, but they are not sure about their financial future.

The Latin American countries that are immersed in the study are Argentina with 75%, Chile with 67%, Colombia, with 62%, Brazil with 54%, Venezuela with 50%, Mexico with 49%, and Peru with 42%.

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A Different Reality in the Age of Millennials

According to a study "New Kids on The Block, Millennials & Centennials Primer" by Merill Lynch Bank, estimates that 88% of young people manage emerging markets and 90% have technical equipment. In addition, it indicates that these generational groups will control 47% of the economy by 2025.

Although this report describes Millennials as tolerant, open, and flexible, they are consumers and creators of 95% of digital content. The analysis shows in detail that young Millennials are developers of the digital age with progressive ideologies capable of generating large advertising and marketing campaigns on social networks. The generation has 27% of the population, that is, more than 2,000 million people.

Today, the digital world allows all generations to be active in different sectors of technology, such as marketing, consumption, entertainment, and work. However, there is the possibility of designing better strategies for the different profiles of generations, to guarantee quick reading and even images with visual messages.

In another publication by INCAE Business School, Millennials represent 4.4 billion people worldwide and oscillate at 59% in 2020. In addition, they have called it "Millennials with steroids" for its link to technology and digitalization. They even think about losing their sense of smell before access to their computer and the internet, according to a survey conducted by McCann.

In short, Millennials are tied hands to technology and digitalization, it is a world that they have created in their favor, and hope that the new generations will address it without any problem.