Omerica: Millennials Won't Buy Cars, Homes, Steaks
BuzzFeed recently compiled a list of things Millennials, those who are 18-30 years of age, have been accused of supposedly ruining, and some the findings show how bleak the Obama economy has been for young people. Young people in Obama's economy are eating out less, not buying cars or homes, and are even intimidated by steaks.
Here are some of the depressing findings that do not inspire consumer confidence in the least:
1. Millennials are not buying cars, and advertisers are trying to help companies like "General Motors solve one of the most vexing problems facing the car industry: many young consumers today just do not care that much about cars."
2. In 2012, "Millennials, on average, enjoyed one less meal out per week than they did five years ago":
Harry Balzer, chief industry analyst at researcher NPD Group told USA Today: "This is a shift of biblical proportions for the restaurant industry."
3. Millennials are also not buying steaks and even find them "intimidating":
According to experts at the National Cattlemen’s Beef Association, "millennials present some unique marketing challenges the beef industry must meet."
The farm trade publication explains in its September 2012 issue: "millennials are slightly lower than baby boomers or Generation X members on beef awareness and purchases for nearly every single cut of beef."
4. And Millennials are also not buying homes, per a report in Huffington Post: "Millennials could be dragging down the housing market, and — in effect — the national economy."