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How Millennials are Fueling the New Service Based Economy

Starting in the early 2000’s, we saw a shift in America’s economy from manufacturing to service. There were many factors that lead up to this change including automation and a few unfortunate recessions that set the country back. However, one of the largest influencers of this economy change was the millennial generation and their intense usage of technology. Industries have adapted and formed in order to cater to this generation’s daily needs and wants.
Mobile payment is set to take over the merchants and financial institutions, dry cleaning can now be picked up and delivered at your convenience and on demand car services have transformed transportation for good. The future of the service based economy is based off of this generation’s needs in mind and aims to satisfy their want for instant gratification, individualized experiences and seamless purchasing. Read our infographic to learn more about the industries that are leading America’s service based economy including Venmo, Regalia Club, Uber and Netflix.

 

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