WORKPLACE CHANGES
VACATION HOMES
Travelling Millennials often rent homes while traveling, a decision made easier by user-friendly websites such as Airbnb, which flawlessly facilitates the temporary rental of luxury homes worldwide. Yong adds that these sites speak to the fiscally hesitant Millennial, who is urged by a post 2008 discernment to “try it before they buy it.”
“
EXPANDING SOCIAL MEDIA
IT DOESN’T SEEM POSSIBLE, BUT JUST WAIT.
“
MOZ
In the workplace, the value of the individual office declines as open floor plans with amenities such as “game rooms” that foster brainstorming sessions are favored. Progressive landlords and tenants are paying attention and reacting accordingly, as companies like Moz (which increases SEO for its clients) cater to the experiential needs of Millennial employees by bringing ping-pong tables, activities, and more to the office. Yong described the success of collaborative workspaces including MAKERS and WeWork, that “allow entrepreneurs to be more connected and empowered,” and shared excitement of a future space in Kirkland called Remote.
SOME BRANDS WILL GET IT RIGHT & MAKE A KILLING.
-Nelson Yong, Partner at ReignLabs
As mobile interfaces become the norm, communication online continues to expand. Innovative websites such as FWx, a Food and Wine experience where “foodie” and lifestyle converge, pairing quirky, share-able content with seamless user participation pushed to another level: users can nominate themselves or other artists to “doodle” on the logo using a hash tag. Yong adds that social media is a force in the workplace too, with “the emergence of job descriptions like social media manager.”
FWx
NEW TECHNOLOGY
URBAN LIVING
A desire to live, work, and play in close proximity means Millennials prefer urban locales. Even those outside the city crave a sense of “urbanity,” a trend reflected in new construction both in and out of downtown areas. Cities are accommodating with permanent and mobile businesses; from “pop-up” shops to top-rated food trucks where dishes ranging from Marination Mobile’s miso ginger chicken tacos to pulled pork sandwiches topped with Beecher’s Flagship cheese courtesy of Maximus/ Minimus are steps away.
In terms of technology, innovation continues, from the growing tablet industry to 3-D printers and smaller acquisitions, such as Mathieu Lehanneur’s Boom Boom. A geometric speaker, its variety of uses speaks to the Millennial demographic: it can be played in virtually any position, engages with the user, and can even be used as a speakerphone. Yong sees a multifunction future where the cell phone replaces our wallets, car keys, and the like. A trend Yong calls “apropos,” given the “large number of technology companies dwell here.”
F
rom smartphones and social media, to urban living and workspaces, to shopping habits and recreation, changes that thrive on the experiential mantra of Millennials and innovate or incorporate technology are commanding attention and changing the face of business as we know it. Changes that will only be amplified as more diversification to reflect their economic influence takes place and we continue to welcome a Millennial future. REALOGICSSOTHEBYSREALTY.COM I 29