Fast Company: Why Millennials Don’t Want To Buy Stuff

Awesome piece from Fast Company about the shifting attitudes towards “ownership” and how businesses can adapt.

Humanity is experiencing an evolution in consciousness. We are starting to think differently about what it means to “own” something. This is why a similar ambivalence towards ownership is emerging in all sorts of areas, from car-buying to music listening to entertainment consumption. Though technology facilitates this evolution and new generations champion it, the big push behind it all is that our thinking is changing.

The biggest insight we can glean from the death of ownership is about connection. This is the thing which is now scarce, because when we can easily acquire anything, the question becomes, “What do we do with this?” The value now lies in the doing.

In other words, the reason we acquire “stuff” is becoming more about what we get from the acquisition. Purchasing something isn’t really about the thing itself anymore. Today, a product or service is powerful because of how it connects people to something–or someone–else. It has impact because we can do something worthwhile with it, tell others about it, or have it say something about us. As leaders and entrepreneurs, we can intentionally use this knowledge to our advantage. We just have to think about the “stuff” we sell in a slightly new way.

Read the entire piece here.

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