From Fast Company:
Compared to previous generations, Millennials seem to have some very different habits that have taken both established companies and small businesses by surprise. One of these is that Generation Y doesn’t seem to enjoy purchasing things.
The Atlantic‘s article “Why Don’t Young Americans Buy Cars?” mused recently about Millennials’ tendency to not care about owning a vehicle. The subtitle: “Is this a generational shift, or just a lousy economy at work?”
What if it’s not an “age thing” at all? What’s really causing this strange new behavior (or rather, lack of behavior)? Generational segments have profound impacts on perception and behavior, but an “ownership shift” isn’t isolated within the Millennial camp. A writer for USA Today shows that all ages are in on this trend, but instead of an age group, he blames the change on the cloud, the heavenly home our entertainment goes to when current media models die.
. . . .
So is technology the culprit, then? Though it often seems to be the driver, technology cannot be the cause either, because it is simply an extension of the way we think. New tech is created because someone has decided to think differently about the world. This may, in turn, spur new technology, but the new thinking is always first.
And there’s the culprit.
Humanity is experiencing an evolution in consciousness. We are starting to think differently about what it means to “own” something. This is why a similar ambivalence towards ownership is emerging in all sorts of areas, from car-buying to music listening to entertainment consumption. Though technology facilitates this evolution and new generations champion it, the big push behind it all is that our thinking is changing.
. . . .
Even in this strange new world, the economic laws of scarcity apply, and they are precisely what’s shifting. To “own something” in the traditional sense is becoming less important, because what’s scarce has changed. Ownership just isn’t hard anymore. We can now find and own practically anything we want, at any time, through the unending flea market of the Internet. Because of this, the balance between supply and demand has been altered, and the value has moved elsewhere.
. . . .
In other words, the reason we acquire “stuff” is becoming more about what we get from the acquisition. Purchasing something isn’t really about the thing itself anymore. Today, a product or service is powerful because of how it connects people to something—or someone—else. It has impact because we can do something worthwhile with it, tell others about it, or have it say something about us.
Link to the rest at Fast Company and thanks to Dave, who says this may bode well for ebook subscriptions, for the tip.