What is ‘trending’ in business: Part two of a two part series
by John A. Wojtecki
April 12, 2022

In my last article, I discussed buying habits of millennials, and thought it worthwhile for further examination. The article I referenced was written by Tal Berlinger and titled “New Shopping Habits Only Millennials Could Think of.” Previously, I discussed what was trending up.

As a reminder, this is important if you are an owner of a small business, have investments in businesses that have experienced volatility up or down, or are interested in future trends. In this edition, I will take a look at what is tending down. A trend is a general direction. Several trends beckon a comment or two. So here is what is trending down:

  1. Lottery Sales: This will impact non-profits who benefit from this income stream.
  2. Fabric Softener: Not a surprise here. We have been using dryer balls for quite some time, and I am way over the millennial age bracket.
  3. Sports: I follow baseball. Attendance and viewership numbers are trending lower in baseball.
  4. Napkins: This is a surprise. My first reaction was to get “earthy,” and say something about using a sleeve. Berlinger even mentioned millennials using their sleeves, which brought a smile to my face. Towels become an alternative to the napkin according to Berlinger.
  5. Business Suits: Casual and business casual has been on a positive trend for quite some time. I still have quite an assortment of ties.
  6. Razors: I sport facial hair during the winter. If one bases their thoughts on the trends from social media, razors will continue in a downward spiral. Contrary to the trend, come spring, I like to shed the facial hair.
  7. Investments: Berlinger cites that millennials have little extra from paychecks to add to their portfolio. Not a good trend as far as stock ownership and planning for retirement.
  8. Cruises: With COVID influences and millennial trends, not a good time for the cruise line business.
  9. Wine with Corks: I buck the trend on this one. I like to support our own Ardon Creek.
  10. Home Ownership: Another financial decision for individuals with little left over from one’s paychecks. I am conflicted on this one because I see real estate markets across the country as hot with homes being listed and sold in record times at record dollar sales.
  11. Starting Families: This surprising statistic used by Berlinger reveals a significant social impact: Over 70% of households in the United States have no children under the age of 18.
  12. Traditional books: Our library has a loan program for online books which I visit often. Books and online writing continue to be extensive. Yet, the delivery format has changed to more of an online format.

Other declining trends are soap bars, cereals, landlines, cable television, board games, golfing, and hotels.

If you are an entrepreneur, you must study your buying audience. To run a successful business, the customer’s needs will be met. If not by you, then the needs of all customers, including millennials, will be met by a competing business.

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