Do Millennials Really Feel Entitled?

A few weeks ago, we read an article in the NY Times about a young man who was having difficulty finding a job in the recessionary workplace. We considered writing a letter in response to the article because we found the young man’s situation contrary to almost all of AIM’s research for MILLENNIALS At HOME, but there were already a flood of responses from incensed Times readers. The young man had graduated from an elite liberal arts college in 2004, was still living with (and fully supported by) his parents, and, having been turned down for a management training position, was unwilling to accept a $40,000 entry level job at a prestigious insurance company because he deemed it “dead end.” Most comments responding to the article referred to him as “spoiled,” “a whiner,” and that he should have taken the job offer and “worked” his way to a better position.

In AIM’s research on the Millennial generation, we found that most young people do not share this young man’s sense of entitlement. In fact, in over 100 one-on-one interviews, a serious of online focus groups and a survey to over 1,000, we found that, while remaining optimistic about their futures overall, most Millennials are willing to work hard to achieve their goals and that attitude is reflected in how they live as well as in the types of jobs they have accepted. Perhaps the Recession has brought a dose of reality to the expectations of this highly sophisticated and well-educated generation, but, in any case, we found that many of them are learning to make “lemonade” out of their economic “lemons.” Bartenders with BA’s in Philosophy are learning how to run restaurants, economist/lifeguards are learning about coastal real estate, and biologist/housepainters are evolving into “green” home renovators. These young people are creative, innovative, and definitely not lazy.

Link to NY Times Article: http://www.nytimes.com/2010/07/07/business/economy/07generation.html?scp=2&sq=colgate%20grad&st=cse

The Key to the Millennial Home

“Character” is the key that opens the door to the Millennial home. Millennials, the generation who are now 10 to 29 years old, are sophisticated and do not skimp on the details. They look for quality and architectural details when buying or renting a home. A home that tells a story is ideal to Millennials. Whether that is an older home, a home that is environmentally friendly, or one that is technologically advanced, “character” is key.

Albing International Marketing (AIM) announces the first comprehensive study on the Millennial generation and their homes, MILLENIALS At HOME. With over $350 Billion in spending power, 80 million Millennials are rapidly becoming the next generation of home furnishing consumers.

With their desire for “character” Millennials are attracted to vintage home styles – bungalows, row homes, pre-War buildings. They believe that older homes and buildings represent better quality features such as plaster walls, solid wood doors and porcelain bath fixtures. Even when buying newer homes Millennials make it a priority to add value in classic, quality enhancements such as handcrafted woodwork, granite countertops, and hardwood floors. According to AIM President Robing Albing, “Millennials are more traditional than you might think. We found that they reinterpret traditional values in their own way, for their own times and that is reflected in their homes.”

The surveys, focus groups, and in-depth interviews that AIM conducted for the study revealed:
- 56% of Millennials prefer traditional design style for the home. Their idea of traditional is more casual than formal.

- 60% of Millennials believe that they will live in “new” suburbia. Not the cookie cutter homes that they grew up in, but a more idealized version of suburbia.

- Millennials consistently mention unique architectural details and customized landscaping when describing their dream homes. They appreciate handcrafted items, believing that they add more character and value to a home.

To understand how the Millennials live and what they will need or want to furnish their homes you must first understand the Millennial generation and what motivates them. MILLENNIALS At HOME discovered that as a generation Millennials are technophiles, sophisticates, team players, community servers, soloists, ordered, close with parents, and traditionalists. These characteristics of the generation relate closely to their preferences in home furnishings. For further information about the study contact Albing International Marketing (www.albing.com).