Millennials seek new tastes, destinations and casinos
What are Millennials looking for? Find a summary with comments from New Casinos about the latest reports from Goldman Sachs and Mintel.
Mintel's new report "Leisure Habits of Millennials" published in the end of August 2015 discuss what adults in the age of 18-35 are looking for. The age group called Millenials or Generation Y are famous for being sophisticated, technological competent and immune against traditional marketing and sales argument.
Generation Y members in the UK are much more racially and ethnically diverse and they are considerably more segmented as an audience aided by the rapid expansion in Cable TV channels, the Internet, e-zines etc. The questions is what is the common denominator of this group? For starters, Millennials are less brand loyal and the speed of the Internet has led the cohort to be similarly flexible and changing in it's fashion, style conscousness and where and how it is communicated with.
Millennials are constanstly on the lookout for new experiences, may it be tastes, destinations or casinos. This may be as simple as trying out a new dish for an exotic cuisine, or gathering at a pub evening. 18-35 year olds is a very social group, enjoying going to concerts, visiting new destinations and spending time with family.
"Since Millennials are seeking new experiences all the time, perhaps it's not surprising that finding new casinos are high on the agenda for this group", says Markus Jalmerot, founder of New Casinos Limited.
They value their work/life balance and realise that keeping fit and healty is a key part of a happy life. All of this provides a positive outlook for leisure activities and venues, however, Millenials are a demanding audience that are financial cautious and not particular loyal unless an incentive is offered. They would like to take part in leisure activities, but not at the cost of their wallet and they won't settle for the same time after time, leisure regaliers will need to be flexible and change frequently to keep up.
When it comes to leisure activities, Mintel's latest report fron March 2015, covering 939 internet users between 18-35 years old bring up the following:
"Which of the following best describes how often, if at all, you have done the following leisure activities outside the home in the last 12 months?"
A few times a month
Eat out at pubs - 18 %
Drink in pubs/bars - 19 %
Going to a nightclub - 13 %
Gamble (play lottery, bet, play bingo, slot machines etc) - 13 %
Once a month
Eat out at pubs - 25 %
Drink in pubs/bars - 21 %
Going to a nightclub - 13 %
Gamble (play lottery, bet, play bingo, slot machines etc) - 15 %
Millennials are driven to explore new experiences in their leisure time and live by the device "Experience is All". According to statistics from Mintel, it's remarkable that more Millennials choose to gamble on lotteries, bingo and online casinos rather than go visiting a nightclub, says Markus Jalmerot.
Finally, New Casinos reveal that Millennials think that access, not ownership, is the important thing. It's not only about residence: Millennials have been reluctant to invest in cars, music and luxury goods, according to Goldman Sachs report "Millennials: Coming of Age". They rather use Uber then buy a car and prefer to subscribe to Spotify instead of buying an album. 15-35 year olds are now turning to a new set of services providing access to products they like without the burdens of ownership, giving rise to the "sharing economy."
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Email: markus@jalmerot.com
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