Victoria’s Secret wants to see what today’s millennials are talking about with a new twist on mobile messaging.
At the same time that practically all millennial-minded marketers are using Snapchat, Line, Kik and every other social and mobile platform out there to get in touch with teens, Victoria’s Secret has rolled out its own chat feature within its Pink shopping app.
The lingerie brand is the first marketer to use a chatting feature from a mobile messaging app called Frankly.
After opening the chat feature, app users can talk about predetermined topics like holiday gifts or school. Because this is Victoria’s Secret and millennials are fickle the public chats are customizable with different shades of pink backgrounds and branded emojis. There’s also the usual crop of smiley face emojis that app users can play with, much like a text message.
After his junior year at Brigham Young University, Nick Walter, now 25, landed a great summer internship in the Seattle office of Pariveda Solutions, a Dallas-based tech consulting firm. Though he enjoyed the work and liked his clients and colleagues, he felt stifled. Used to jeans and t-shirts, he didn’t like wearing khakis and polo shirts and most of all, he says, “I hated that I had to be at this office every day for X amount of time doing what they said I had to do.”
So instead of heading down the career track he’d always expected of himself—he’d envisioned the security of a steady paycheck and benefits—he decided to go to BYU part-time for the next two years, while hiring himself out as a consultant and developing his own apps for the iPhone including seven how-two apps he wrote with a friend. One of them, called simply Weight Lifting Videos, has helped net $1,200 a month.Then he stumbled on a more lucrative possibility.
One Wall Street firm has an idea that’s raising eyebrows: forgive some student debt for first-time homebuyers.
It’s too early to say exactly how the stimulus measure BlackRock BLK suggested would work, but it would take Congressional action because the federal government administers the majority of student debt.
The move could be a creative way to ease student debt, which has quickly become a $1.2 trillion Achilles heel in the American economy.
Millennials aren’t buying many homes. Mounting student debt may be part of the problem. “Fiscal policy initiatives targeted at young workers with high levels of student indebtedness might, perhaps surprisingly to some, have an outsize impact in supporting the housing recovery and financial markets,” Rick Rieder, co-head of Americas Fixed Income at BlackRock, wrote in a recent commentary.
Generation X has a gripe with pulse takers, zeitgeist keepers and population counters. We keep squeezing them out of the frame.
This overlooked generation currently ranges in age from 34 to 49, which may be one reason they’re so often missing from stories about demographic, social and political change. They’re smack in the middle innings of life, which tend to be short on drama and scant of theme.
But there are other explanations that have nothing to do with their stage of the life cycle.
Gen Xers are bookended by two much larger generations – the Baby Boomers ahead and the Millennials behind – that are strikingly different from one another. And in most of the ways we take stock of generations – their racial and ethnic makeup; their political, social and religious values; their economic and educational circumstances; their technology usage – Gen Xers are a low-slung, straight-line bridge between two noisy behemoths.
American adults under age 30 hate cash so much that 51 percent of them will use plastic, even for purchases amounting to less than $5. That’s according to a survey released on Wednesday by CreditCards.com.
The older you are, the likelier you are to whip out cash, rather than a debit card or credit card, the study found. Seventy-seven percent of Americans 50 or older prefer cash for purchases of under $5.
Republicans and Democrats are equally likely to use cash for small purchases, and both parties’ followers are more favorably inclined toward cash than political independents. That may have less to do with political inclinations than the fact that independents tend to be younger.
A panel of experts was assembled last week at the Cannes Lions International Festival of Creativity, who gave us their take on marketing to Millennials in 2014.
The panel, of course, agreed that brands must resonate with their target audience and have a realistic understanding of societal needs in order to have the kinds of conversations deemed to be relevant by millennial consumers.
In order to engage with Millennials, it was noted that brands must be willing to loosen up and give up control, which is a scary idea for most brands.
As it has been pointed out countless times in the media and through anecdotes, millennials in the workplace feel entitled to undeserved promotions and raises, are addicted to their smartphones and job hop every few years. The litany of complaints goes on, but of course no generation is as bad — or as good — as reported: Generation X was more than just a bunch of slackers and Baby Boomers’ strengths shook off their juvenile delinquent label.
In the case of Generation Y, twenty-somethings bring new perspectives and habits to the workplace that add value to their employers, even though those strengths also carry inherent weaknesses.
Whether you’re managing millennials or are a twenty-something yourself, here are the unique and creative talents Gen Y brings to the table, the lessons they still need to learn and the opportunities they have to establish themselves as the next generation of leaders.