5 Industries that Millenials Are Destroying
Millenials are characterized as entitled and out of touch special snowflakes… and they are now responsible for the impending death of five former juggernaut industries.
Yahoo! Finance predicts that the demographic shift coming from the 80 million Americans born between 1980 and 1995 will be a disaster. While lauding millenials’ tech-savviness, they say that the industries that they are currently shunning will cause a lot of pain to investors.
So there you have it!
- Cars. As of now 28% of 16 year olds have licenses, compared to the 44% in 1980. Car sales in America are on the rebound, but they predict that since millenials love to live in urban and walkable areas, car-sharing services like ZipCar will rise while car dealerships will crumble.
- Cable TV. Video streaming sites are on the rise while pay-TV lines are falling, which will cause major headwinds for anything related to cable TV for investors.
- Brick-and-mortar retail. While economy experts are blaming the bad winter for a slowdown, online sales are on the rise, growing about 17% in the last year.
- Homebuilders. Half of home-buying Millenials are asking their parents to shoulder their down payments, while the other half are too spooked by the recession to take on a mortgage due to increasing student loan debt.
- Soft Drinks. Coca-Cola and Pepsi are suffering under a new movement to destroy childhood obesity and Millenials are consuming far less soda and previous generations. And the number declines every year while the consumption for energy and sports drinks are now rising.
More info HERE