MILLENNIAL KEY LEARNINGS — THE MAVERICKS

October 25th 2019

Airbnb bets on women hosts, millennial travellers for growth in India

• The company’s growth in India has not been limited to the top cities or tourist destinations
• “With India having the largest number of millennials, it will eventually have the largest population in the world, a fast growing middle class and will be a fast growing global economic player,” said Lehane, referring to those born between the mid 1980s and early 2000s.
• While 55% of Airbnb’s hosts globally are women, in India that number is more than a third and is growing, said Lehane, adding that the company was focusing on women in India to give them an equal chance at participating in the economy.
• Bajaj said women in rural India have opened up their homes, taken lessons on hospitality and now welcome guests from all over the world, helping them earn a secondary livelihood.

Source: Mint

Online Poker is the next big thing for Indian millennials

• One hand of poker takes barely a minute online which of course appeals to millennials used to multi-tasking and jumping between things.
• Millennials fall in the age group of the 20s to mid-30s and have grown up with smartphones, tablets, and laptops. They are “always on” and have a strong inclination for fast-paced entertainment, which naturally draws them to online gaming, including Poker.
• And best of all, poker allows millennials to use their skills and earn a good income while still fitting within their self-paced environment.
• Studies reveal that younger generations relish spending on consumption — eating out, drinks and entertainment. Online gaming, including poker competes with other forms of entertainment for a share of their wallet — very often they choose between playing games, going out for a movie, streaming Netflix, or watching sports.Mobile gaming has been rising in the favourite list of Millennials as the number of mobile gamers has reached 42 per cent.
• Catering to the fascination of Millennials, these websites diligently strategize their advertisements and promotions. Creative ads, exciting offers and gift bonanzas, referral points, challenging tournaments and attractive awards, all are a part of promotional campaigns that appeal the most to Millennials.

Source: Asian Age

News, social media, gaming drive Indian millennials’ mobile app consumption, finds study

• The average Indian user has 50 apps (including pre-installed ones) on their smartphone, a study by MoMAGIC Technologies revealed. MoMAGIC, a data science-driven mobile tech startup based in New Delhi, surveyed 6,000 Indian millennials to deconstruct their app usage behaviour.
• The study found that mobile app consumption in India is evenly distributed across genders, with an average man installing 50.5 apps, and an average woman downloading 49.8.
• According to the study, ‘foodies’ and ‘travellers’ are the key segments, besides millennials, for app usage. Students and ‘fashionistas’ follow.
• Since 2017, the average app usage time has grown 90 percent, the report stated.
• The study also found that digital marketing is driving customer acquisition on apps, and ad spends by companies are slated to grow 20 percent annually until 2021.

Source: YourStory

Millennials choose both puja and parties this Diwali

• Among the app`s over a million users in India, the Diwali-related questions were answered by around 1 lakh millennials from three metropolitan cities — Mumbai, Delhi and Bengaluru — the finds of which are nothing short of interesting.
• Fifty-six per cent of users say that `pujas` and parties are an equally important part of Diwali celebrations, while 18 per cent said puja is significantly more important than parties
• Indian millennials hold strong family ties and feel very strongly about spending Diwali with them. A staggering majority, 88 per cent, pan-India hold the same strong family values
• Answering questions about a green, pollution-free Diwali, 70 percent respondents agree with the ban on firecrackers and do not associate bursting crackers as part of celebrations and traditions

Source: Zee Business

Tech-happy millennials like their mutual funds

• Millennials are overwhelmingly invested in equity funds, especially tax-saving ELSS
• Among debt funds, the insta redemption facility in liquid funds rather than traditional debt is the big draw
• According to a report by Deloitte India and lobby group Retailers Association of India, millennials are now 47% of India’s workforce.
• Further, according to data from Computer Age Management Services (Cams), a transfer agency which services 68% of MFs in India, of the 3.6 million new MF investors it on-boarded in FY18–19, 47% (1.7 million) were millennials (between 20 and 35 years).
• The survey found that investment in equity and mutual funds is far more a function of income than age. Looking at a sub-sample of 1,490 respondents, the survey found that 40% of those earning ₹20,000 or less per month had invested in mutual funds or in stocks. However, the figure rose to 80% for those with a pay cheque above ₹1 lakh per month.

Source: Mint

Airbnb’s ‘trust currency’ to drive India business

• We have seen a 2X growth since 2016 in terms of overall business activity in India. Three million guests in India have used us. And India is a top-three market for Airbnb in the long-term
• India is a low-trust market. How does Airbnb work in the country considering that the platform is about one stranger staying with another while travelling?
• Lehane, however, believes that India has a great tradition of being wonderful hosts where families welcome other people. Besides, the country’s millennial factor is driving many economic sectors such as the Experiences Economy.
• Millennials are looking to spend less on material acquisition and more on some type of human-based interaction — food, drink, art, culture, history, sports.
• Travel is at the centre of that. India has a hosting culture and the largest number of millennials. At the same time, India is a developing economy, has an emerging middle class.

Source: Business Today