A new survey by Harris Poll shows that today’s young adults — the so-called millennials between ages 18 and 34 — are giving exciting, first-hand experiences higher priority. 78% of those surveyed claimed that they would rather spend money on a desirable experience, such as a music concert or road race, than buy material goods.
This preference is also linked to a widespread “fear of missing out”, or FOMO, perpetuated by the rise of social media. Although the survey has a relatively small sample size and is conducted on behalf of Eventbrite, the event ticket company, the findings do points out a key trend in the evolving consumer behavior of younger generations.
The laptops are arranged in neat rows, seemingly endless black rectangles each glowing with bright blue screens. I point out to my daughter what the numbers on the little signs next to computer mean. I show her how to evaluate the features â€“ Longer battery life, more RAM, bigger hard drive, larger screen, total weight. With each model comes a trade off, and after a few minutes I can tell she is getting confused. â€œLook, decide what features are most important to you, and then choose based on that,â€ I tell her. She nods, then proceeds to look at the back of each computer, and to feel the touch pad on each one.
My daughter finally stops at a mid-priced Sony and nods. Good brand, good choice, I think to myself. I glance at the features â€“ seems like she picked one with a good balance of performance and portability. I tell her sheâ€™s a smart kid, figuring out what is best from amongst all those feature trade-offs. â€œIt wasnâ€™t that,â€ she tells me. â€œItâ€™s a pretty silver color, not boring like all those others. And I liked the way the keypad felt.â€ Continue reading “How shoppers make choices”