“Know your Customer”. That’s good advice, whether you are a small business, the Eagle Chamber of Commerce or the Town of Eagle. Who is your customer? Whoever it is today, within a few years most of our customers will be what we today call Millennials: those born between 1982 and 2000. They are a bigger generation than the Boomers (83 million vs 75 million); they are already in some ways more influential and 70% of them in the US rent rather than buy their home.
We, the Eagle Chamber, are excited by one very Millennial trend that is already changing the entrepreneurial landscape in Eagle: Co-Working (see simpatiCOWORKING above the Dusty Boot). Following close behind comes another trend dear to the hearts of many Millennials.
It’s called Co-Living, and it’s a lifestyle choice emerging among young people who favor Airbnb over hotels and Lyft rides over car ownership. Rather than seeking out housemates on Craigslist, city-dwellers in high-cost markets such as the Bay Area and New York City are now paying companies — some small and others, like WeWork, backed by millions in venture capital — a premium to live in a building with a curated roster of housemates, stocked kitchens and planned get-togethers.
Research conducted in 2015 by British life insurance firm Beagle Street found that more adults than ever are waiting to move out of their parents’ house, get married and have children. It’s not just because it’s economically harder, the research showed. Survey respondents also indicated that they don’t value living alone as much as earlier generations.
“The best way to describe the mentality that encapsulates where we’re at is the ‘modern nomad,'” said Benja Juster, 28, an interactive experience designer who lives in the Canopy, whose residents are all in their mid-20s to mid-30s. “It’s a desire to not be locked down to one physical location … to go with the wind and find where life may take you.”