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Millennials LOVE travel, they like active activities/experiences, they like bartender-prepared drinks, they like chef-prepared food. And taking pictures of all of it and posting them. Cruises will have to cater to them differently, but I think they'll still buy cruises since they offer all of those things. Millennials don't like the chain-type fads that dominated the 80s and 90s. So the massive floating hotel concept may change, but Millennials still want to travel and experience things, and cruises can offer that.
The travel industry is doing quite well right now, and it can't be all Boomers driving it. When I look at cruise websites they have you input your age for the selection of trips, so I take it that industry is on top of what Millennials want. It can't be tacky experiences.
The industries that are dying are all the ones that sold knick-knacky crap, especially redundant knick-knacky crap, even if it's discounted. E.g.: if I want cheap shoes I'll go to Wal-Mart or Shoe Carnival. I don't need to go to Payless.
Last edited by redguard57; 07-08-2019 at 07:53 PM..
Well, good. Sigh of relief for the cruising industry.
We've only done trans-Atlantic cruising and it was only seniors there, maybe 3 families with children.
I wasn't sure if cruising even appealed to the younger cohort.
As others pointed out it seems to depend on the cruise type.
One that stands out is Viking River Cruises, we've seen their tour groups shuffling past in a few locations around the world and I'd be surprised if any of them were under age 70. I've no idea what specifically about that cruise line draws in the older crowd but it's definitely something.
Well, good. Sigh of relief for the cruising industry.
We've only done trans-Atlantic cruising and it was only seniors there, maybe 3 families with children.
I wasn't sure if cruising even appealed to the younger cohort.
When I travel, I like to "roam." I don't like being tied down to one area for more than three or four days at the most. I could handle a short cruise, but wouldn't want to be on a longer one.
As others pointed out it seems to depend on the cruise type.
One that stands out is Viking River Cruises, we've seen their tour groups shuffling past in a few locations around the world and I'd be surprised if any of them were under age 70. I've no idea what specifically about that cruise line draws in the older crowd but it's definitely something.
Cheaper than living in a nursing home, and the housekeeping and food are better.
When I travel, I like to "roam." I don't like being tied down to one area for more than three or four days at the most. I could handle a short cruise, but wouldn't want to be on a longer one.
Even with activities all day long, and a Las Vegas-type show every night? And all the food...
Probably what you and other millennials would hate is no internet for 2 weeks. Unless you pay an exorbitant fee like $30 for 15 min. for spotty reception. I've never seen so many people with a book, LOL.
If nothing else, it is a civilized, totally relaxing way to cross the Atlantic, as opposed to flying!
As others pointed out it seems to depend on the cruise type.
One that stands out is Viking River Cruises, we've seen their tour groups shuffling past in a few locations around the world and I'd be surprised if any of them were under age 70. I've no idea what specifically about that cruise line draws in the older crowd but it's definitely something.
Probably cost or duration? I looked into River Cruises but they are super expensive. Maybe not enough activities on a smaller boat, for the youngers.
I don't think huge houses are a Boomer thing. When Boomers were most actively homebuying during the 70s through the 90s, average home sizes rose from 1,500 to about 1,800 square feet over those three decades. That's less than double the 1930 average of about 1,120 square feet.
Average home size didn't go over 2,000 until the 90s, when Xers were moving into their peak.
And now the average home size is 2600 square feet and Millennials are buying homes in a huge way. Remember that Millennials are ages 23 to 38. In January 2017, Millennials surpassed Generation Xers in home buying numbers and they are now the largest segment of home buyers. By the end of 2018, Millennials made up over 45 percent of all new mortgages, compared to 36 percent for Gen Xers and only 17 percent for Boomers. https://www.housingwire.com/articles...housing-market
And they're not going cheap. They also make up the largest volume dollar wise as well.
From the article above:
Quote:
“At the end of 2018, the median price of a mortgaged home purchased by Millennials was $238,000, $26,000 less than the median price of a home mortgaged by Baby Boomers and $51,000 than Generation X.”
They also make a lower down payment than any other generation. But that's understandable since this is often their first home and so they are not typically bringing over equity from a previous home.
When I travel, I like to "roam." I don't like being tied down to one area for more than three or four days at the most. I could handle a short cruise, but wouldn't want to be on a longer one.
This Boomer loves to roam too. I have only ever been on one or two group vacations of any sort and I HATED every minute of it! When my husband and I travel, we always rent a vehicle and hit the road, free as a bird. This includes England where they drive on the "wrong" side of the road! LOL Good times!
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