Millennials & Money: A Global Outlook
Live From Skagen summit. Oslo, Norway. JANUARY 2018
Delivered to an audience of powerful International financiers as part of his European 2018 tour , Matt delivered a talk to make the audience rethink their approach to investing and looking for broader industry undercurrents
Discover the lasting legacies of the millennial generation in our fascinating conversation with international keynote speaker, entrepreneur, and futurist Matt Britton. As the consumer landscape shifts, Matt shares valuable insights into the changing priorities of consumers and the importance of experiences as the new status symbol. Learn why traditional business strategies may no longer apply in today's world, and the crucial role of staying in touch with younger generations to remain competitive.
Together, we examine the impact of urbanization on consumer trends, including the implications for the auto and housing industries. As millennials continue to flock to cities, we discuss the rise of the creative class and the challenges faced by traditional retailers due to the growing popularity of online shopping platforms like Amazon. Matt also shares his thoughts on the potential for Amazon's predictive shopping and the changing value of brands to consumers.
In addition, we explore the future of technology and finance, considering the implications of Facebook's data and the potential risk of government regulation. As companies like Wealthfront change the landscape of wealth management, we investigate the potential of blockchain and cryptocurrency while touching on the importance of staying relevant in a constantly changing market. Don't miss this captivating dialogue with Matt Britton as we dive into the impact of the millennial legacy on business, consumer trends, and the future of technology and finance.
1. 📱 💰 Brands must adapt to the changing landscape of social media and prioritize making their products interesting and shareable to reach the wealthy 0.1% who prioritize experiences over material possessions.
2. 💭 Experiences are the new social currency, with millennials pursuing them to prove their status on social media, leading to a rise in DIFTI and a need for companies to build sharing into their products.
3. 💪 Tough Mudder and Color Run are popular fitness experiences that prioritize fun and Instagram-worthy moments, while 🏙️ millennials' preference for urban experiences is driving up real estate prices and gentrification.
4. 💰 Young people are renting and using Airbnb to afford experiences over material possessions, while services like Glam Squad and Rent The Runway disrupt traditional retail models, and urbanization creates opportunities for the service sector.
5. 💼 Teach kids specialized skills in art or science to become freelancers in the collaborative workforce, exemplified by WeWork's $12 billion valuation.
6. 💻 Warby Parker leveraged Shopify to offer virtual try-on service, direct-to-consumer brands succeed without traditional advertising, packaged goods companies should buy hardware companies, voice recognition technology will make typing obsolete, Amazon Alexa and Apple AirPods are the future.
7. 🔮 In the future, voice commands will dominate phone interactions, while Google faces pressure from voice search and Apple's control over search results.
8. 💰 Trump's deregulation in financial services will lead to increased adoption of FinTech, while tech companies are becoming more capitalized and trusted than traditional banks.
