Friday, August 25, 2017

'Psychologically scarred' millennials are killing countless industries

From The Independent:

Millennials' preferences are killing dozens of industries.

There are many complex reasons millennials' preferences differ from prior generations', including less financial stability and memories of growing up during the recession.

“I think we have got a very significant psychological scar from this great recession,” Morgan Stanley analyst Kimberly Greenberger told Business Insider...

“Millennial consumers are more attracted than their elders to cooking at home, ordering delivery from restaurants, and eating quickly, in fast-casual or quick-serve restaurants,” Buffalo Wild Wings CEO Sally Smith wrote in a letter to shareholders earlier this year...

Beer penetration fell 1% from 2016 to 2017 in the US market, while both wine and spirits were unmoved, according to Nielsen ratings.

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