Understanding Millennial’s Options to Live Now
Did you catch the article in Sunday’s New York Times by Sapna Maheshwari, “Let’s Subscribe to That Sofa”? It mentions ways to save money by renting clothes, furniture, appliances along with the apps to do that. Those sites make United Rent-All look off the chain (cool). Who would have thought renting for those who couldn’t afford to buy, would become a choice for those who would rather save money for something else or be viewed as on fleek (fashionable)? But the philosophy of renting, not buying is indicative of Millennials. Even if you’re not a Millennial, could it be right for you?
One of the appeals, younger professionals appreciate high quality merchandise and the ability to have high quality options. There are a growing number of high-end fashion and high-end furniture sites (or applications) within the rental market. If one could stretch your wardrobe, gadgets, etc. by using what you want now, then exchange them for new ones, it can create an illusion that you have unlimited resources. Yet, in reality, you do not have to pay for these items outright and can change them frequently to suit your needs. Particularly in tight urban apartments without a lot of extra room, renters can have these luxury objects now and replace them when they want something else. (Perhaps an unintended benefit, with Instagram, Pinterest and Snapchat changing merchandise allows for a large quantity of varied photo and video opportunities.)
Then, there’s the allure of many options. In furniture, gadgets and clothing, as in entertainment, choices are limitless and it can be overwhelming. By renting, you are temporarily confining your choices knowing that you can make new ones soon. This way, overall, you can optimize your breadth of choices not limit them.
Most importantly to understand younger adults, and what I bring into discussions in my consulting projects, is their way of looking at life: living in the present. That means living in the moment, not thinking about the past or future, living immediately. This means using what’s at hand and not waiting or wanting for something that might come or happen. Renting things is a way to live now, immediately, like how they want their information, delivery and feedback.
Maybe you’re not “rental material”, still you can see the value of truly living now with the resources you have; not living in debt or on your credit card, or planning for things that may not happen. There are advantages in today’s fast moving and ever-changing times for being flexible and adaptable. Millennials understand that completely.
I work with clients everyday who are trying to navigate through different mindsets, workstyles and priorities to develop the best talent. If you’d like to increase your ability to attract, develop and retain emerging leaders, let’s talk. You can reach me at Susan@SusanGoldbergLeadership.com.