The millennial generation aka generation ‘ME’ is often bombarded with various stereotypes like being under-employed and fiscally irresponsible. We also see media coverage on many industries like chain restaurants and beer that have collapsed because of millennials. However, while some industries have failed to adapt to the changing business models, there are other industries that have thrived due to millennial demand.
The millennial generation has allowed companies in various industries to act as disruptors and change the current landscape. They have acted upon the needs of millennials like the need for greater experiences over material things that have led to their success. Here are the top industries that are thriving thanks to millennials.
Camping Gear Sales Have Increased by $2.5 BN
The millennial generation is all about spending money on experiences and one industry that has benefitted from this trend is camping. As millennials have kids, they are interested in spending more time in nature and taking camping trips with their families. This demand has led to an increase in camping gear sales by $2.5 BN in 2018.
America is home to more than 500 camping grounds that have seen an influx of millennials in recent years. A major reason for this can be attributed to the fact that many millennials have entered their prime spending years and looking for budget-friendly recreational activities to enjoy with their families.