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Millennials are killing industries because the economy is killing them

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Upon searching the keywords “millennials are destroying,” a variety of search options appear on the screen: banks, the economy, golf; the list goes on. This topic has developed traction on social news outlets, from sites such as Buzzfeed and The Huffington Post. They emphasize these claims comically, from how millennials are killing the napkin industry to how they’re killing the cork industry. Despite how hilarious, the impact was enough to cause certain businesses to take hits to the point of closing their doors due to lack of consumption.

One of the most common industries that are being affected are food chains, such as Buffalo Wild Wings. According to BWW’s President Sally Smith, she addressed in a letter to shareholders that the problem lies with millennials not going out as much.

“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,” Smith said.

Unfortunately, a sentiment like that isn’t something that can be said lightly; most millennials in today’s age are preoccupied with keeping up with daily responsibilities, especially those who are students and/or work. Millennials are always on the move, and considering that most of their time are always accounted for, it isn’t something that’s done on purpose.

My sister, for one, is a 30-year-old full-time retail sales associate for a mobile carrier company who earns at least $1000 or more in commission on a good month. Most of her paycheck goes to her monthly car payments, credit card bills, phone bills, as well as extra expenses that include her internet, cable and streaming subscriptions (lunch and dinner included when at work).

Despite having a roof over her head, she is left with just enough to get by until her next check, and throughout that process, she is more conscious in how much she spends. She alternates back and forth between eating in and grabbing a burrito at Chipotle for a decent $9.65. I started work not that long ago and I now understand why she never wants to go anywhere after work; on my way home, my parents wanted to go have dinner at Chili’s but I was just not in the mood to sit, wait, and be in a semi-formal ambiance that required me to actually converse with the humans in front of me only to pay over $15 dollars for a meal and to pay more for tip.

It’s absolutely nothing personal; it’s just that times have changed. Prior generations consider the modern-day millennial to being lazy, whiny, immoral and irresponsible, but the reality is that everything is just more expensive. Even buying a house is almost impossible due to how much prices have skyrocketed these past couple of years. And not just homes, but things such as healthcare, childcare, basic necessities and even college tuition have heightened since the 2000s.

It’s only the circle of life, and if certain places can’t keep up, they either convert their businesses to go along with what the majority craves (which is less processed and artificial ingredients) or reevaluate what kind of business they wish to establish. Businesses should be on the look-out and start changing to accommodate the modern audience because by the end of the day, those millennials are taking their businesses elsewhere, and are okay with that. People wanna go to school, work, then come home, eat and watch Netflix. It’s just that simple.

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The award-winning news site of Cosumnes River College
Millennials are killing industries because the economy is killing them