21 Goods Millennials Are Choosing Not to Buy
Millennials (spanning ages 27 to 43) are reshaping the marketplace with their distinct consumer habits, favoring services and products that offer convenience, sustainability, and technological integration.
As the largest generational segment in the U.S., millennials wield significant power in the marketplace, dictating which businesses thrive and which fail. Retailers are compelled to either adapt to millennials’ buying preferences or go out of business.
Here’s how millennials are changing consumer culture:
Cable Television
In 2021, over 60% of millennials reported using streaming platforms as their primary source of entertainment. This shift is driven by a preference for on-demand content and the high cost of cable subscriptions.
Landline Phones
Only about 10% of millennials have a landline, with many viewing them as redundant given the ubiquity of smartphones. This demographic values mobility and digital communication, rendering traditional landlines unnecessary.
Print Newspapers
With a vast array of digital platforms offering real-time updates, print media’s relevance has significantly diminished. Millennials, who prefer to consume news through social media and apps, rarely invest in newspaper subscriptions.
Breakfast Cereal
Recent surveys show a 40% decline in cereal consumption among young adults who prefer quicker, on-the-go breakfast options like smoothies or protein bars. Health concerns and a desire for less processed foods also contribute to this trend.
Manual Transmission
The sales of manual transmission cars have plummeted, with only about 5% of cars sold in the U.S. last year featuring a manual gearbox. This generation values convenience and technology over the nostalgic appeal of a stick shift.
Designer Handbags
With a growing awareness of sustainable and ethical fashion, many opt for eco-friendly and affordable alternatives. The popularity of resale platforms also reflects a shift towards more budget-conscious, value-driven purchasing behaviors.
Ironing Boards
Millennials are smoothing out life’s wrinkles without traditional ironing. Sales have decreased as wrinkle-free and easy-care fabrics become more popular. This generation prefers low-maintenance clothing, aligning with their fast-paced, mobile lifestyles.
Door-to-Door Sales
This generation, skeptical of sales pitches and protective of their privacy, prefers researching and buying products online. The convenience and safety of digital shopping simply outweigh the perceived benefits of personal selling.
Bank Branches
With digital banking services on the rise, the need for physical branches has diminished, leading to a significant closure of bank locations in recent years. Millennials favor the convenience and immediacy of managing finances via smartphone apps.
Fitness Centers
Millennials are redefining fitness with a shift towards home workouts and outdoor activities. The pandemic accelerated this trend, with many opting for virtual fitness classes and investing in home exercise equipment.
Business Suits
With more workplaces adopting a casual dress code, the demand for traditional business suits has declined. Millennials prioritize comfort and individual style, influencing a broader trend towards more relaxed office environments.
Golf
Millennials are not hitting the links as much as previous generations. The sport’s time-consuming nature and high cost are significant deterrents for this demographic. Instead, millennials prefer more accessible and varied forms of entertainment and exercise.
Pre-Packaged Meals
Millennials are turning their backs on microwave dinners. With a focus on health and fresh ingredients, this generation is cooking more at home or choosing fresh, quick-prep meal kits. This shift is part of a broader trend towards mindful eating and wellness.
Life Insurance
Traditional life insurance plans are less popular among millennials. Many delay purchasing plans due to economic pressures and a preference for spending on immediate needs or experiences. However, this trend might shift as the generation ages and starts considering future financial security more seriously.
DVDs and Blu-rays
The digital revolution has rendered physical movie formats nearly obsolete for millennials. Streaming services provide a more convenient, instantly accessible form of entertainment. The decline in DVD sales reflects a broader shift towards digital consumption across all media.
Incandescent Bulbs
Millennials are illuminating their homes with energy-efficient lighting. LED lights, which offer longer life spans and reduced energy consumption, have become the norm. This choice reflects millennials’ broader commitment to environmental sustainability and energy efficiency.
Desktop Computers
The rise of mobile and tablet devices has led to a decline in desktop computer sales among millennials. Portability and convenience are paramount for this demographic, who prefer devices that can keep up with their mobile lifestyles.
Wedding Expenses
Many millennials are saying “I do” to smaller, more intimate weddings. Faced with economic uncertainties and shifting priorities, this generation is spending less on traditional lavish weddings.
Tobacco Products
Smoking is out of favor with the health-conscious millennial. Statistics show a significant decrease in smoking rates among this age group, accompanied by a rise in the popularity of alternatives like vaping. However, health concerns about any form of smoking continue to grow.
Department Stores
The convenience of shopping from home, coupled with the ability to easily compare prices and read reviews, makes online retail more appealing. This shift has led to a decline in foot traffic and sales at traditional department stores.
Commodities
Traditional commodity investments like gold and silver are not as popular with millennials. They prefer investing in technology stocks or cryptocurrencies, which they perceive as more dynamic and promising. This generational shift in investment strategy reflects broader changes in economic perspectives and priorities.
Josh Dudick
Josh is a financial expert with over 15 years of experience on Wall Street as a senior market strategist and trader. His career has spanned from working on the New York Stock Exchange floor to investment management and portfolio trading at Citibank, Chicago Trading Company, and Flow Traders.
Josh graduated from Cornell University with a degree from the Dyson School of Applied Economics & Management at the SC Johnson College of Business. He has held multiple professional licenses during his career, including FINRA Series 3, 7, 24, 55, Nasdaq OMX, Xetra & Eurex (German), and SIX (Swiss) trading licenses. Josh served as a senior trader and strategist, business partner, and head of futures in his former roles on Wall Street.
Josh's work and authoritative advice have appeared in major publications like Nasdaq, Forbes, The Sun, Yahoo! Finance, CBS News, Fortune, The Street, MSN Money, and Go Banking Rates. Josh currently holds areas of expertise in investing, wealth management, capital markets, taxes, real estate, cryptocurrencies, and personal finance.
Josh currently runs a wealth management business and investment firm. Additionally, he is the founder and CEO of Top Dollar, where he teaches others how to build 6-figure passive income with smart money strategies that he uses professionally.