Consumerism in crisis as millennials stay away from shops

Press/Media: Expert Comment

Description

Brendan Canavan argues that the most serious long-term threat to traditional retail — more than Brexit or even Amazon - may be that consumerism is in terminal decline, with millennials staying away from shops, not only in the UK but in many other leading economies around the world.

Period16 Jan 2019 → 10 Feb 2019

Media contributions

4

Media contributions

  • TitleCommentary: Consumerism is hitting a crisis - millennials staying away from shops Read more at https://www.channelnewsasia.com/news/commentary/consumerism-hitting-crisis-millennial-shop-online-11194338
    Degree of recognitionInternational
    Media name/outletchannelnewsasia.com
    Media typeWeb
    CountryUnited Kingdom
    Date10/02/19
    DescriptionPeople are buying less and are increasingly interested in experiences instead.

    Consumerism is arguably in terminal decline, with millennials leading the change, not only in the UK but in many other leading economies around the world.

    This includes an increased ambivalence towards consumption itself: People are buying less often and less overall. This is particularly true in the clothing industry, where research shows that millenials are especially unforthcoming – even after you factor in the shift to online retail.
    URLhttps://www.channelnewsasia.com/news/commentary/consumerism-hitting-crisis-millennial-shop-online-11194338
    PersonsBrendan Canavan
  • TitleConsumerism in terminal decline as millennials stay away from shops
    Media name/outletbusinesstimes.com.sg
    CountryUnited Kingdom
    Date26/01/19
    DescriptionWith passive consumption on the wane, retailers must build long-term relationships with customers by offering enriching experiences.

    Consumerism is arguably in terminal decline, with millennials leading the change, not only in the UK but in many other leading economies around the world.
    URLhttps://www.businesstimes.com.sg/consumer/consumerism-in-terminal-decline-as-millennials-stay-away-from-shops
    PersonsBrendan Canavan
  • TitleConsumerism in crisis as millennials stay away from shops
    Degree of recognitionInternational
    Media name/outletMetro news
    Media typeWeb
    CountryUnited Kingdom
    Date16/01/19
    DescriptionYet there is another crucially important culprit that is mostly overlooked. It happens to be the one that poses the most serious long-term threat to traditional retail — more than Brexit or even Amazon. Consumerism is arguably in terminal decline, with millennials leading the change, not only in the UK but in many other leading economies around the world.
    URLhttps://www.metro.news/consumerism-in-crisis-as-millennials-stay-away-from-shops/1395144/
    PersonsBrendan Canavan
  • TitleConsumerism in crisis as millennials stay away from shops
    Degree of recognitionInternational
    Media name/outletTimes Of Malta
    Media typeWeb
    CountryUnited Kingdom
    Date16/01/19
    DescriptionConsumer studies academics have been picking up on changing habits for a number of years. This includes an increased ambivalence towards consumption itself: people are buying less often and less overall. This is particularly true in the clothing industry, where research shows that millenials are especially unforthcoming – even after you factor in the shift to online retail.
    URLhttps://www.timesofmalta.com/articles/view/20190116/business/consumerism-in-crisis-as-millennials-stay-away-from-shops.699401
    PersonsBrendan Canavan