Sales and marketing departments scramble to learn and understand what millennials like and are interested in. Product and program divisions follow research to develop goods and services they hope millennials will buy. But what about the things millennials are not interested in?
Business Insider took up this cause in a study—with some surprising results.
Casual Dining Chains (e.g. Applebee’s and Buffalo Wild Wings)
Apparently eating out isn’t as much in millennials vocabulary as ordering meals via mobile app delivery services. They also prefer to cook in, Business Insider found.
Beer
Beer sales are being outclassed by wine and spirits. Over the past decade beer sales have lost 10 percent of market share.
Homeownership
Home sales have hit record lows among millennials, largely because of tighter credit standards, but also due to delayed marriage. Millennials are marrying and having children later in life.
Diamonds
They aren’t a millennial girl’s best friend any longer. Nontraditional rings are en vogue.
Banks
Consumer distrust plagues banks. Moreover, according to BI Intelligence Data, less than 40 percent of millennials do not visit physical banks at all.
Department Stores
Millennials are less drawn to aspirational (and expensive) designer label brands and prefer private label brands, or fast-fashion stores such as H&M or Zara.
Designer Handbags
The shunning of designer labels extends to handbags, as well. In fact, the more popular the brand (or bag), the less liked it is by millennials, BI says.
Home Improvement Stores
Since home ownership is on the downswing among millennials, it should come as no surprise that mega stores like Home Depot and Lowes aren’t much visited.
Football
It’s no revelation that millennials aren’t tuning into broadcast television stations or cable tv, and are instead streaming or watching programs via mobile devices. But this extends to sports programs, too. College football and NFL viewership have declined.
Oil
Negative imaging has hurt the oil industry’s appeal for millennials. It has the highest negative image of any industry for them, according to BI.
