Every day millennials kill a new industry, apparently. So far, millennials have killed the cereal industry, the golf industry, the insurance industry, the TV industry and a whole lot more.
All this killing is because of their phones, technology, and video games, of course. Due to the huge differences in economy and society from the 20th to the 21st century, baby boomers and millennials have a hard time seeing eye-to-eye.
And baby boomers spare no chance to gawk at the things millennials are up to. And slowly the trend has overseen great popularity - millennials killing off entire industries and concepts that have been around for years. Here’s where it gets a little funny, the accusations get sillier by the minute. So, let's look at the 3 things that millennials apparently killed, and how they’re getting blamed for all the wrong reasons.
The Automobile Industry
To say the Indian automobile industry is seeing a slump would be an understatement. The industry is seeing it’s worst slump in years, with the industry being on the downturn throughout its verticals. Passenger vehicle sales in the country declined for the 10th straight month, with the fall being the steepest since 1997. The prolonged slump has even led to over 15,000 job losses over the past couple of months.
In testing times like these, the finance minister Nirmala Sitharaman, in her address that was expected to announce measures to boost the automobile sector, actually ended up blaming the millennials for the slump. According to her, one of the major factors contributing to the slump was “The mindsets of millennials, who now prefer to have Ola and Uber rather than committing to buying an automobile”
As soon as she said it, the internet world went on an outrage. How could millennials be blamed for the downfall of an entire industry, just because they prefer to take a cab rather than own a car?
“ I take a cab because I don’t want to drive in never-ending traffic, don’t want to pay thousands in registration and permits, and certainly don’t want to deal with the often chaotic and scary Indian road rage incidents. Tell me how is that not a valid issue and why should I be expected to buy a car and contribute to the industry just because I’m a millennial. Also anyway the automobile industry includes trucks, scooters and a whole lot of other vehicles, am I supposed to get all of those too just so that we can boost the automobile industry?” said Rajveer.
The reality for the downfall of the industry is obviously starkly different, with the reasons showing how millennials were dragged into this for no reason at all. Demonetisation, Expensive safety compliance standards and big technology disruption in the form of the Bharat Stage VI emission control norms are some of the reasons considered to be the major factors why the industry is in downfall. Read them again and think, how do are millennials causing any of that?
The 9 to 5 work culture
For years working in an office has been synonymous with 6-day working weeks, long and gruelling working hours, and horrible bosses. So when we see the current trend of changing working cultures, a lot of that is met with scepticism as people can’t seem to fathom the idea of a work-life balance. Baby boomers have spent their entire lifetimes in their office cubicles, and when millennials are doing their bit to build and foster a positive work environment, they don’t seem to like it when bit. The start-up culture, informal dress code at the workplace, blurring hierarchical lines in companies, all of these concepts are considered to be the millennials doing and are certainly looked down upon whenever something goes wrong in the corporate world.
But get this, A survey of more than 250 companies indicated that adopting a shorter working week could add to businesses’ bottom lines through increased staff productivity, as well as improved physical and mental health. Furthermore, the study conducted by Henley Business School suggested it could also lead to a cleaner environmental footprint. The study showed that as a result of the study, it found out that more than 80% of its employees were feeling less stressed and more satisfied at the workplace. So if millennials understand the concept of work-life balance and actually loving your work, why are the blamed and projected as young, unproven kids lacking the seriousness and business acumen one requires for running a successful business?
The Movie Industry
This one is particularly intriguing.
Millennials have been accused of killing the movie industry. With the proportion of millennials going to the movies falling consistently, “ the millennial problem” has long been touted as the one responsible for the diminishing returns of cinemas owners. Other reasons blamed on millennials include the fact that they can’t stay away from their phones for 2 hours during the movie, have an issue with overpriced food and beverages and have lost interest in the concept of collective movie watching.
However, the following statistics just go on to tell you how all those accusations are anything but true. Young people under 25 go to the theatre 8.5% more frequently than those over the age of 30. When that section accounts for about 29% of yearly box office spending, the fact that millennials are flocking to the theatres more than their older counterparts is actually a saving grace for the cinema industry. With 1/3rd of the loyalty population of cinemas comprising of millennials, it’s clear they aren’t the problem when it comes to dwindling theatre profits.
So the next time you decide to blame the young generation for any problem that seems to plague the surface of this earth, think before you do because there’s a high chance that what seems true on the surface, may not always be the case!