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12 Industries Experts Say Millennials Are Killing — And Why They're Wrong

By CB Insights Research

The perception of the millennial generation as exceptionally narcissistic, immature, and disengaged from society has fueled a thousand hot takes on the industries they're “killing." Here's what's rRead full story

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  • Nearly all of the things on this list have been declining in popularity for at least a decade, and their decline can be attributed to cultural shifts that have been occurring since the 90s and the 00s. In the case of Macys, people moving back to cities created a shift towards "walkable" neighborhoods, which in turn has changed retail. Ironically, this began in the naughts and coincided with the gentrification of cities that had been ignored by traditional retail (think College Ave in Oakland and

    Nearly all of the things on this list have been declining in popularity for at least a decade, and their decline can be attributed to cultural shifts that have been occurring since the 90s and the 00s. In the case of Macys, people moving back to cities created a shift towards "walkable" neighborhoods, which in turn has changed retail. Ironically, this began in the naughts and coincided with the gentrification of cities that had been ignored by traditional retail (think College Ave in Oakland and Magazine St in New Orleans).

    As for the assertion that Millennials invented or popularized craft beer, CSA, farmers markets, boutique fitness and juice bars, to paraphrase a popular saying, "X build that"

  • For every industry that experts state are being killed by Millennials, a new industry is being born. We backed off from the big names in beer and gave the craft breweries our business. We are opting to shop local, are finding more economical alternatives, and are utilizing services that save us time and money for purchasing clothing and groceries. As far as things like canned tuna and raisins, we are just more aware of health risks with processed foods. Our awareness has fueled the rise of CSA programs

    For every industry that experts state are being killed by Millennials, a new industry is being born. We backed off from the big names in beer and gave the craft breweries our business. We are opting to shop local, are finding more economical alternatives, and are utilizing services that save us time and money for purchasing clothing and groceries. As far as things like canned tuna and raisins, we are just more aware of health risks with processed foods. Our awareness has fueled the rise of CSA programs, farmers markets, pop-up shops, boutique fitness studios and juice bars. This is not a matter of a generation being at fault for dying industries, this is a matter of industries failing to evolve to meet the needs of their customers.

  • millennials in a nutshell: They have taste, hate sugar, hate mass marketed food and beverage, like nice things but can’t afford to buy, need tasteful options, are into health and read labels, cheap most of the time, and apparently not stupid...the older generations running companies, however, don’t take the time to actually look at the facts and evolve. Instead, they blame generations and cry all the way to extinction.

  • A healthier lifestyle and wanting good-for-you foods is not generational. I don't eat cereal either because it's far too sugary. That said, this quote from Mae Wells Kress does resonate, "This is not a matter of a generation being at fault for dying industries, this is a matter of industries failing to evolve to meet the needs of their customers."

  • I’m gen x and remember when the world was going to end because of us. These stories aren’t worth the brain power. I have more faith in millennials than I ever did in my own generation.

  • I have never heard so much BS and slander in my life. The author of this (who left out their name, probably because they know that people like me would try to find them and respond to their bias influence) didn't even leave their name to proudly stand behind the article that they wrote.

    This article is filled with statements making fun of and disrespecting millennials by adding personal statements of extremely negative comments which is the most childish thing any adult professional can do. The

    I have never heard so much BS and slander in my life. The author of this (who left out their name, probably because they know that people like me would try to find them and respond to their bias influence) didn't even leave their name to proudly stand behind the article that they wrote.

    This article is filled with statements making fun of and disrespecting millennials by adding personal statements of extremely negative comments which is the most childish thing any adult professional can do. The author has made an obvious point that they dislike millennials for some unmentioned reason, my guess is jealousy, our lives are great, we live in one of the most amazing times in human history and we are only making the future and technology greater.

    I am honestly amazed quartz would post something so negative toward such a huge body of the future, I will no longer use quartz as a news network.

    In reality, the world is changing just as it always does, and the author of this article has made it obvious that they dislike millennials and will blame them for any changes that are occurring, automatically insinuating that they are bad. And in addition to this, I am a millennial, however none of the statistics that they mention, fit my persona in any way, or any of the millennials that I know, we all work for Google or Apple or NASA, and we all work for the benefit of the world, on and off the clock.

  • “It’s true that millennials’ entry into their prime earning years has coincided with the decline of industries like luxury goods, chain restaurants, department stores, and many others.” They aren’t killing industries they are changing them by killing the old, dusty ones that cared only about money, not innovation.

  • The market is what it is and if left alone sells what people want. All sorts of preferences come and go. I am a boomer but I don't play golf I can but for me it's not fun and I am not a good golfer.

    All sorts of businesses disappear, diners ,non franchise burgers, hot rods, garage bands.....pet rocks etc.

    So what if tastes change the market is still right. Did we blame the flappers for the end of the buggy trade?

  • This is not a generation x,y or z phenomenon. Smart people are the reason why industry fails. Millennials are not causing businesses to open, or close. They are one part of our civilization. If you try, as this article does, to attribute any impact to just one generation, then you are in a terrible mindset.

    Businesses go out of business because they do not evolve, and meet the needs of their target audience. Millennials are no different than any generation before them. They are connected to everyone

    This is not a generation x,y or z phenomenon. Smart people are the reason why industry fails. Millennials are not causing businesses to open, or close. They are one part of our civilization. If you try, as this article does, to attribute any impact to just one generation, then you are in a terrible mindset.

    Businesses go out of business because they do not evolve, and meet the needs of their target audience. Millennials are no different than any generation before them. They are connected to everyone around them, and that connection is the economy.

  • Millennials, a very conscious population grouping, desire a cereal which pairs well with public access to water and contains only marginal animal cruelty

  • Millennials aren’t killing anything. If those industries can’t adapt their products to appeal to today’s consumers, then they fail. The world changes and businesses either change with it or they don’t exist at all.

  • There are jobs that millennials and others will be qualified for that have not even been created yet. As more technologies grow and more industries change, we will see more new jobs come from the change.

    Take basketball for example, as time passed more positionless basketball players were wanted rather than a one position player. More 3 point shooters are wanted today because of the volume of points that come in games today.

    As time moves on, innovation in both jobs and tech will rise.

  • This still misses the point that we are just far too underpaid to have disposable income available to spend on stuff. With considerably less disposable income than previous generations, it is not wonder we choose to eat over buying superficial garbage. Pay us better and maybe we will spend a little bit more.

  • I’m always fascinated by this topic, listened to a fascinating gal that has written a book called “ Don’t believe the Numbers” she is a real deal Mathematician and exposed how Algorithms when information gathering and graphs is done can be flawed so this is probably what lights Kevin Connors comment, ( which I liked ) I also think Mae Wells Kress nailed it, in BC here in Canada these Craft Beer Houses are freakin booming and they are funky & sociable, went to one with a bunch of Millennials last

    I’m always fascinated by this topic, listened to a fascinating gal that has written a book called “ Don’t believe the Numbers” she is a real deal Mathematician and exposed how Algorithms when information gathering and graphs is done can be flawed so this is probably what lights Kevin Connors comment, ( which I liked ) I also think Mae Wells Kress nailed it, in BC here in Canada these Craft Beer Houses are freakin booming and they are funky & sociable, went to one with a bunch of Millennials last week they rented the upstairs to hold church!!!! Downstairs amongst the tanks of brew there was a women’s group hanging big Macrame plant holders they were making hangin from the ceiling, it was unreal, the owner told me they do all kinds of stuff like this. Big companies are just not getting these kids, ( another generation as Jack Black would say “ stick it to the man “

  • According to this article I'm a millennial! (I was born in a "gen x" year)

  • Millennials, have benefited from their parents giving them what they didn't have as teenagers but missing is changing economy of America, the have is getting more and the nots are rewarded with crums. The middle class is almost gone due to wealthiest Americans and corporations taking more of benefits of the economy because its rigged in favor of few elites, the majority is struggling and until that balance happens then coming generation has pessimistic view of their futures.

  • That explains my food behavior with my not- millennial-husband. I’ve become more mindful about eating from any canned food, and killed the cereal for the questionable ingredients.

  • That was just a list of 12 things I normally can't afford in a given pay cycle. Want me to consume more bullshit I don't need so Capitalism can prosper? Pay me more.

  • I love millennials. We need to shut up and listen to them.

  • Most attempts to characterise and label generations are flawed.

    With baby-boomers there were significant external social and economic factors after WW2 that really made them grow up differently, with different values and a fundamentally changed society.

    For gen X and millennials the changes have been more social and technological and therefore subtler.

    Looking at generational trends is really interesting. But you have to take it all with a pinch of salt. It is something to study from afar

    Most attempts to characterise and label generations are flawed.

    With baby-boomers there were significant external social and economic factors after WW2 that really made them grow up differently, with different values and a fundamentally changed society.

    For gen X and millennials the changes have been more social and technological and therefore subtler.

    Looking at generational trends is really interesting. But you have to take it all with a pinch of salt. It is something to study from afar, over along periods of time and with the acceptance of heavy generalisation.

  • As someone that still eats cereal, eggo waffles, Pop-Tarts, mac and cheese and canned tuna fish, probably best just to comment on technology trends ... Content because the large majority of it is fundamentally digital, it can be segmented down not only to a single user, but even use cases (PC, TV, tablet, phone, outdoor, etc) and also delivered in a multitude of distribution methods and business models. Content is clearly remaining King, but every other facet of the content is now being micro segmented

    As someone that still eats cereal, eggo waffles, Pop-Tarts, mac and cheese and canned tuna fish, probably best just to comment on technology trends ... Content because the large majority of it is fundamentally digital, it can be segmented down not only to a single user, but even use cases (PC, TV, tablet, phone, outdoor, etc) and also delivered in a multitude of distribution methods and business models. Content is clearly remaining King, but every other facet of the content is now being micro segmented. The next wave that will be significant, will be integration of transactions and even further interactivity into the content itself. These trends will continue to be disruptive, advertising will continue, but will become much more complicated and subscription models will also change, not just to be on demand, but to the use case, at the time of need, at the point of need, and in the manner best suited.

  • Nice article.

  • Change is Inevitable

  • Future

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