Millennials become the new romantics
Living in the lap of luxury takes on a new meaning for the so-called "millennials", according to a recent survey. The results of computer hardware company ASUS's global survey across five continents revealed that while millennials, people aged between 19 and 35, still enjoy owning beautiful products, they consider unique experiences and time as modern luxuries.Findings show that in the US 37% of millennials defined luxury as having the time to do the things they wanted, while in India, 40% of respondents saw luxury as the ability to do things in their own way, which brought them to the conclusion that luxury is associated with personal time and freedom.Raymond de Villiers, a generational theory expert at Tomorrow Today, which looks at future trends, says the study is a sign of a value shift among this particular generation."Millennials are starting to move away from the American Dream their parents had - which essentially boils down to the millennials' parents wanting to die and leave their children having more than they did in their lifetime," says De Villiers. "They say they are happier having less."De Villiers says the shift from their parents' values is largely due to them being the first generation to live in a world shaped by questionable decisions made by older generations."Millennials are experiencing the deferred costs of the middle-class dream of older generations."De Villiers identifies issues such as retirement, the high cost of health and social security, and student loan debt as some of the issues millennials have to contend with due to their parents' choices .Millennials are also questioning the need for extravagant possessions in light of the increasing cost that these have to the environment, said De Villiers."They're asking, 'do I really need all this stuff?'," he says.