From gender fluidity to the phenomenon that is millennial pink, we take a look at the aspirations, habits and trends colouring this oft-misunderstood generation.
From gender fluidity to the phenomenon that is millennial pink, we take a look at the aspirations, habits and trends colouring this oft-misunderstood generation.
Mae Tan | 22 | Marketing creative at Surrender
THE MILLENNIAL GENERATION
An umbrella term used to describe anyone born between 1982 to 2004 – is perhaps one of the 21st century’s greatest and long standing enigmas. Garnering both praise and criticism in equal measure, they’ve been labelled everything from “narcissistic” and “entitled”, to “innovators” and “game changers”.
According to the Pew Research Center, millennials account for 27 per cent of the global population, which translates roughly to around 2 billion people – a fast growing demographic that has got big brands to sit up and take notice. And rightly so.
Currently between 13 and 35 years of age, those millennials who are on the cusp of adulthood with prime spending power are driving the world’s consumer spending growth. According to a report published by financial services company The Motley Fool, millennials will have more spending power than baby boomers by next year. The report also suggests that the demographic will have a collective spending power of US$1.4 trillion (S$1.8 trillion) by the year 2020.
Wealthy millennials, on the other hand, are taking it up a notch. In June this year, a study by RBC Wealth Management revealed that high-net-worth individuals from this generation with an average of US$5.7 million (S$7.6 million) investable assets each were found to be largely involved in areas such as investment, savings and wealth management.
Unaffected by issues of general affordability, they are able to act on aspirations at the blink of an eye – thus, putting them in the driver’s seat to influence the mind sets and spending habits of their peers. Brands have wasted no time in tapping on their spheres of influence to get the word out on their products and services. Instead of spending millions of dollars on ad campaigns and billboards, they are seeking to convert affluent millennials into poster children for their causes, a much more effective way at reaching a target demographic who thrives on familiarity and authenticity when making purchase decisions.
They are revolutionising the way we work, too.
Millennials’ preference for part-time work and being self-employed has paved the way for the rise of the “gig economy”. Professor Paulin Straughan, a sociologist and dean of students at Singapore Management University, attributes this to a tight job market which has made full time employment not as easy to come by. Adding to this is a cultural shift where millennials are not willing to sacrifice passion for the mundane.
Work-life balance, Straughan adds, has never been more integral. “They have a clearer distinction between work and play based on the experiences of those around them. They’ve seen friends and family having had to clock long hours and the consequences that has on mental and physical health, family and other social relationships,” she says.
Which ever way you look at it, millennials are doing away with the rigmarole of the past. They’re the here-and now generation – an ever-evolving medley of dreamers, innovators and change-makers constantly pushing boundaries and challenging the status quo.
For Mae Tan, being a millennial means being bold enough to act on impulse – in a productive way, no less. “Taking full control of the here and the now, being in the present, and making sure you make a difference is what it’s all about. It means having the confidence and power to change what’s happening now,” she says.
The advent of technology means that access to unlimited information and a wealth of other resources is now more readily available than ever before, making it fair game for one and all. According to Tan, the only way for millennials to make their mark in times like these is to think fast and work smart.
The Surrender boutique, an undisputed pioneer in Singapore’s street fashion scene, is very much like Tan herself – edgy, chic and unpretentiously street. At just 22 years old, the marketing creative has etched herself firmly as one of the leading movers and shakers in the local fashion scene.
As someone who prefers to traverse the unknown, it comes as no surprise then that Tan’s idea of a perfect holiday involves strolling down the streets of Pyongyang, North Korea – not so much to jump on the sensationalist bandwagon, as to observe life in a wholly different light.
“Visiting places that tend to be off the beaten track gives you a different perspective in life. I want to travel to places where I can feel something – it’s not so much the destination, as the experiences I have there,” she adds.
With close to 70,000 followers on Instagram, Tan feels that social media has redefined what it means to be relevant in this day and age. Despite where life may take her, she hopes that her efforts today will leave a mark for generations to come.
“At the end of the day, I want to make an impact in this lifetime, be it through fashion or otherwise.”
RIGHT HERE, RIGHT NOW
“I want to travel to places where I can feel something – it’s not so much the destination, as the experiences I have there.”
TEXT PRABHU SILVAM
