Given the rise of the Sharing Economy through companies like Airbnb and Zipcar, mindswarms wanted to uncover Millennials’ attitudes and brand relationships within this new economy. Would they have similar attitudes to their parents? Or, has the omnipresence of tech changed things? What we found challenges the very definition of the American Dream
To understand Millennials’ attitudes about the Sharing Economy versus their parents.
National US sample
Ages 19 – 34
Even Male/Female ratio
> 40% had HH incomes $100K+
Mix of ethnicities and socioeconomic backgrounds
My Parents’ American Dream:
My American Dream:
2. There are 3 key factors shaping the strong connection between Millennials & “Sharing” brands & fueling the Sharing Economy
1. Sharing brands enable a new definition of prosperity for Millennials within a sluggish economy.
2. Millennials’ comfort with technology and their trust of social media allows them to leverage Sharing brand connections/benefits.
3. Sharing brands provide Millennials with a sense of savviness and opportunity.
Sharing brands provide more attainable possibilities for prosperity within this economy
Millennials’ trust of online brands and relationships allows them to more fully enjoy the benefits
Sharing brands provide Millennials with opportunities to feel they are “working smarter”
Although some did admit that their parents view “sharing” as a way for them to dodge adult responsibilities, Millennials overall recognize the potential that sharing brands offer them:
Sharing brands are truly shaping the lives of Millennials – providing them with a sense of opportunity and re-defining prosperity for their generation.
Conclusions & Implications