25 Products Younger People Are No Longer Buying and It’s Effects
Millennials are redefining consumer habits, and their preferences are reshaping various industries.
Known for abandoning traditional cable TV and avoiding fine china, their choices reveal a shift towards practicality, sustainability, and technology. These trends are not only altering the market landscape but also affecting the economy in significant ways.
Let’s further explore the products millennials refuse to buy and the broader implications of these changing preferences.
Cable TV Subscriptions
Millennials are ditching traditional cable TV in favor of streaming services. With options like Netflix, Hulu, and Disney+, they prefer on-demand content without the hefty price tag. This shift has significantly impacted the cable industry, leading to a decline in subscribers.
Diamonds
The once-popular notion of diamonds as a symbol of love is losing its luster among millennials. Many prefer more affordable and ethically sourced alternatives such as lab-grown diamonds or other gemstones. This change in buying habits has hurt traditional diamond retailers and mining companies.
Napkins
Millennials are opting for paper towels over napkins, finding them more versatile and practical. This preference has led to a decline in napkin sales, affecting manufacturers who relied on consistent demand. The shift reflects a broader trend towards multi-purpose household products.
Canned Tuna
Canned tuna sales have dropped as millennials seek fresher and more convenient food options. Concerns about mercury levels and sustainable fishing practices also play a role. This decline has forced tuna companies to rethink their product offerings and marketing strategies.
Department Store Clothing
Millennials are turning away from department stores, favoring online shopping and fast fashion retailers. Brands like Zara and H&M offer trendy styles at lower prices and with greater convenience. Traditional department stores are struggling to adapt to this new retail landscape.
Lottery Tickets
Lottery ticket sales are down as millennials show less interest in gambling. Many prefer to spend their money on experiences or investments rather than games of chance. This trend is affecting state revenues and lottery-funded programs.
Bar Soap
Millennials prefer liquid soap and body wash over traditional bar soap. They find it more hygienic and convenient to use. This change in preference has led to a decline in bar soap sales, impacting long-standing soap manufacturers.
Life Insurance
Fewer millennials are purchasing life insurance compared to previous generations. Many prioritize paying off student loans and other debts over buying insurance policies. This reluctance is causing a shift in the life insurance industry as companies try to attract younger customers.
Starter Homes
Millennials are delaying homeownership and opting for rental properties instead of purchasing starter homes. High student debt and a preference for mobility contribute to this trend. The real estate market is feeling the impact, with fewer first-time buyers entering the market.
Traditional Gyms
Traditional gym memberships are being replaced by boutique fitness studios and home workout programs. Millennials seek personalized fitness experiences and convenience. This shift has led to the rise of companies like Peloton and ClassPass.
Bulk Warehouse Club Memberships
Millennials are less likely to purchase memberships to bulk warehouse clubs like Costco and Sam’s Club. They prefer buying smaller quantities more frequently, often through online grocery services. This trend affects the business models of these large membership-based retailers.
Designer Handbags
High-end designer handbags are losing appeal among millennials who prefer minimalist and functional accessories. Brands like Michael Kors and Coach are seeing a decline in sales as younger consumers opt for more affordable and versatile options. The luxury fashion market is adjusting to these changing preferences.
Processed Foods
Millennials prioritize health and wellness, leading to a decline in the purchase of processed foods. They seek fresh, organic, and non-GMO options. This trend is pushing food manufacturers to reformulate products and focus on healthier ingredients.
Mass-Produced Beer
Craft beer is the beverage of choice for many millennials, leading to a decline in sales of mass-produced beers like Budweiser and Coors. They appreciate the quality, variety, and local appeal of craft brews. The beer industry is seeing a shift towards smaller, independent breweries.
Fine China
Millennials are not investing in fine china, viewing it as impractical for everyday use. They prefer durable and stylish alternatives like stoneware and porcelain. This shift has led to a decline in sales for traditional fine china manufacturers.
Car Ownership
Car ownership is less appealing to millennials, who favor ride-sharing services and public transportation. Urban living and environmental concerns contribute to this trend. The automotive industry is adapting by investing in electric and autonomous vehicles.
Single-Use Plastics
Environmental awareness drives millennials to avoid single-use plastics in favor of sustainable options. They choose reusable items like metal straws and glass containers. This shift is impacting industries reliant on plastic production and disposable products.
Fast Food
Fast food chains are losing millennial customers to healthier fast-casual restaurants. Chains like Chipotle and Panera Bread offer fresh, customizable meals that appeal to health-conscious consumers. The fast food industry is evolving to meet these new demands.
Golf
Golf is less popular among millennials, who find it time-consuming and expensive. They prefer activities that are more social and less formal. This decline in interest is affecting golf courses and related businesses.
Cable Internet
Millennials prefer fiber optic and high-speed broadband internet over traditional cable internet. They value faster, more reliable connections for streaming and gaming. Internet service providers are investing in upgraded infrastructure to meet this demand.
Travel Agencies
Online travel booking platforms have replaced traditional travel agencies for millennials. They prefer the convenience and control of booking their own trips. This shift has led to a decline in traditional travel agency services.
Traditional Greeting Cards
E-cards and digital messages are replacing traditional greeting cards among millennials. They find digital greetings more convenient and environmentally friendly. The greeting card industry is adapting by offering more digital options.
Fabric Softener
Millennials are skipping fabric softeners in favor of more natural laundry solutions. They prefer products without harsh chemicals and added fragrances. This decline in usage is impacting traditional laundry product manufacturers.
Big Box Furniture
Millennials are moving away from big box furniture stores and opting for modular and sustainable furniture options. They appreciate the convenience and modern designs offered by companies like IKEA and online retailers. This shift is challenging traditional furniture stores to innovate and appeal to younger consumers.
Traditional Breakfast Cereals
Traditional breakfast cereals are losing ground to healthier, more convenient options like smoothie bowls and protein bars. Millennials are looking for quick, nutritious meals that fit their busy lifestyles. This change is prompting cereal manufacturers to develop new products that cater to health-conscious consumers.
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.