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

Even in this strange new world, the economic laws of scarcity apply, and they are precisely what’s shifting. To “own something” in the traditional sense is becoming less important, because what’s scarce has changed. Ownership just isn’t hard anymore. We can now find and own practically anything we want, at any time, through the unending flea market of the Internet. Because of this, the balance between supply and demand has been altered, and the value has moved elsewhere.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.

via Why Millennials Don’t Want To Buy Stuff | Fast Company.

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