The Importance of a Millennial Mindset
HeadBox is the UK’s first online marketplace for creative, inspiring and off-site spaces, simplifying the process for planning private parties and corporate events. We have built our business on the simple premise that you must provide the service that your consumers are asking for. And our consumers, for the large part, are millennials. Understanding our market is vital. We believe that the future of the events industry – of all industries, in fact – is in the hands, and minds, of the millennials.
Millennials, Generation-Y – these are the children of the 80s, 90s and early 2000s whose habits and behaviours businesses need to be taking note of. It is estimated that by 2025, this generation will make up 75% of the workforce. This statistic brings home the importance of understanding the collective characteristics of millennials and how they think. They will be the biggest influencers, decision-makers and trend-setters for the businesses of the future.
Millennials grew up with computers and with the Internet. They are at one with technology, adapting easily and intuitively to new online trends and developments. They use social media non-stop to keep up with friends and networks, and increasingly often they also turn to social media as their source of world news. They are always generating content, consuming content and repurposing this content – across Facebook, Twitter, Instagram and a myriad of other social media networks. They love the immediacy of video and visual content. Generation-Y access nearly all their information on mobile devices and are experts at searching for the exact information they need. Answers to their questions are instantaneous. It is all about the here and now. A recently published study by Sacunas, ‘How the Millennial Buyer is Changing B2B Sales & Marketing’, explains many of these characteristics in more depth.
As a workforce these behaviours mean that millennials don’t necessarily believe in being confined to the traditional working environment – a 9-5 job in an office. Since they have all the information they need, wherever and whenever they want it, the very idea of “a day at the office” is becoming outdated.
Businesses are being driven by new technology and millennial mindsets. Today’s businesses are working with, and for, this generation and must listen to them, adapt and be on the front foot. Millennials are reactive and demanding – they want hassle-free, simple processes and aren’t willing to compromise. Online, if what you are offering isn’t good enough, the millennials can, and will, swiftly move on. Their world is a more immediate, impatient and dynamic one and as such their demands are driving businesses to create the most streamlined and efficient products possible. They are aligning human needs and the capabilities of technology and asking businesses to provide the products.
At HeadBox we are listening to Generation-Y, and by doing so we believe that we can exceed our own expectations as well as theirs. For the same consumers who rely on Uber and Airbnb we have created the UK’s only online marketplace that allows you to instantly search, book and pay for creative and inspiring spaces. A single website, a ready-curated collection, and instant booking – these three elements are fulfilling the requirements of the millennial generation. We connect underused and exciting spaces, with people looking for space. It is a simple concept and we are executing it in the most simple way we can.
For a generation all about the immediate and the accessible, at www.headbox.com we are providing venues to book here and now. We are looking to the future and listening to our market.