A lot has changed with time to acquire a new dimension.
Almost everything has acquired a new definition. Happiness and success have been redefined.
Why Millennials prioritize experiences over material stuff
What used to be associated with success or happiness 20 years ago is now regarded differently.
Technology has a lot to do with the changes. People are born into a new world and experience life in a different way than their parents.
Back in the old days, success might have been defined by how much you have but now it might be by how much you have experienced.
Experience vs stuff
It is no surprise than Millennials prefer to spend their money on experiences rather than buying stuff.
Millennial are being raised in a world full of information. With a simple internet search, you can find all the answers you need.
Today, most young are more likely to agree that material things don’t really bring happiness.
It is evident that no matter how much you buy; you still can’t get enough.
This is why most of them choose to spend on experiences instead.
What influences this choice?
When you are born a millennial, you come to a world where life is not about holding or owning things.
Why own it when you can get it anytime you need it? Millennials grow in a world where you don’t need to leave your bed to do shopping.
You don’t need to go to a restaurant to get pizza. All these things can be acquired with a few clicks of a button.
More companies have discovered this trend and are taking advantage of the opportunity. Now the biggest store – Amazon, doesn’t hold any stock.
The biggest cab company– uber, don’t own cars, and even AirBnB doesn’t own any hotels but is still the most popular hotel chain in US.
This trend has even extended to jobs. Now you don’t even have to leave your house to get the job done.
You can even be someone’s personal assistant but you never meet face to face. All is done online through the simplicity of lipsense.
Today, success is defined by how much freedom you have.
Right now, if you offered a Millennial a job in a place he or she have dreamed of going, chances are he/she would accept it even if it came with less pay.
They want to feel the freedom of being in control. They live by the slogan “You Only Live Once”.
So, it is about spending as much as you can on experiences that make you happy.
Social media is a great influence on this issue. With platforms like Facebook, Twitter, and Instagram, sharing experiences is easy.
Success has, therefore, been redefined to how awesome your life is.
Everyone wants to share the many photos they took on a trip to Paris or that hike they took to Machu Picchu. That is what everyone wants to see.
The feeling of being more exposed compared to your peers is a major contributor to the advancement of this lifestyle.
A change in values
In the old days, owning a property was a measure of success. Today, the same scenario is seen as demanding too much commitment.
Millennials don’t want to own something that they can’t take with on a trip around the world. Having a car or a house seems like too much responsibility.
It limits your freedom.
Having stuff makes us worry. When you take your car with you to a party, you worry for its safety.
Nobody wants that.
It is easier to call Uber to go wherever you want. That is just how the world is now.
Things are changing and so are the people. What made you happy in the 80s and the 90s can no longer make a millennial happy.
Life is now about experiences not souvenirs.
What do you think? What major trends do you see among young professionals?
I would love to hear your thoughts in the comments below.