Millennial’s consumer behavior
It would not be wrong to say that the culture of different generations might be different as each culture is influenced by different factors that might be unique to a specific time. These cultures are made up of the behaviors of the people who are born in the generation time frame. Each generation might have its own set of experience and its own purchasing behaviors influenced by the set of experiences and other social and economic factors. In this paper, I would like to write about the Millennials who were born between 1981 and 1995 (Babin & Harris, 2015, p.207). I would be discussing the influence they have on the consumer behavior of themselves and other people.
Characteristics of Millennials
In my opinion the millennials have totally different personalities from their parents. I mean that the parent have much more similarities with their parents than with the millennials. There could be a variety of reasons behind it. The millennials are spending more money on technology. They are more politically involved and they are more concerned about the future of the world than their parents were. There are many reasons behind such a difference. Some of them are discussed in the following discussion.
Internet has boomed in the recent decades. The millennials have much more access to information than their parents and grandparents ever had. This abundance of information helps them make decisions. I do not argue that these decisions are always right but they have much more chance to make decisions than their parents who lived in a society that had less access to information and had a greater power distance than we have for the millennials.
Social Networking Websites
Social networking websites like Facebook and Twitter have provided much more opportunities to the millennials to process information, engage in political and social discussions and have their say. The previous generations did not have this luxury to be heard. The millennials feel more in control of their lives and they feel that they can make other listen to them. This also shapes their consumer behavior in a way. For example if a product or service goes viral, the millennials might want to have it. Social Networking websites also provide an opportunity to listen to others about local and international business and opt to do deal with these businesses in a certain way.
Technology has also been changing rapidly. I mean we have travelled to a smart phone from a simple phone with only digits and characters in no time. This not only has influenced the consumer behavior but also influenced the social behavior of people living in the present age. You would see many people with their iPhones and other phones. These phones have replaced the need for going out and meeting friends.
Video games have literally replaced outdoor activities. Before the kids wanted to have sports equipment and now they want Xbox and play stations. The consumer behavior is more inclined towards buying technology than anything else.
Millennials are living in a time where there are many facilities to enjoy than what our parents had. I think that it is necessary to also understand the impact our consumer behavior would have on the environment. We must be able to follow ethical standards in using technology so that its use is safe for us and other around us.