- Millennials are the generation most worried about coronavirus.
- They’ve stopped shopping in physical stores, while tech conferences and music festivals are canceling events.
- But will millennials give up “Netflix and Chill” to avoid getting sick with COVID-19? Record high STD outbreaks in the U.S. suggest they probably won’t.
It’s not just their portfolios that millennials are changing in response to coronavirus. Although they are doing exactly that by betting big on “plague stocks.”
But the nation’s youth are also staying away from crowds in droves to avoid infection.
Millennials Are Taking Drastic Steps to Avoid Coronavirus
Millennials are taking drastic precautions to stay safe from coronavirus. Consequently, the industries that cater to them are canceling events left and right.
And the businesses that employ them are testing out more work-from-home arrangements.
A First Insight survey from last week found that 54% of millennials have already significantly or somewhat changed their shopping habits.
- 39% have cut down on brick-and-mortar shopping trips.
- 46% are spending less time in public places.
It’s no surprise that shopping mall retailers are expecting to take a hard hit to sales in the coming months.
Meanwhile, concert cancellations across Asia are beginning to spread stateside.
Organizers canceled this year’s Miami Ultra Music Festival Friday. Several artists have pulled out of SXSW as coronavirus fears mount. And Coachella 2020’s fate hangs in the balance too.
Kevin Lyman, founder of Vans Warped Tour – the largest and longest-running traveling music festival in the U.S. – said:
I wouldn’t doubt over the next 20 days if we see a festival a day canceled.