By TLI Staff
Cornered over slump in car sales, Finance Minister Nirmala Sitharaman recently blamed habit change of millennials. She was trolled big time on social media for her comments with tweeple going all out to make fun of it. So much so that the slow growth in air traffic is now being attributed to millennials flying in a PUBG plane!! So, who are these millennials and why are they on the firing line of the government?
Who are Millennials?
Millennials who are also referred to as Gen Y or snowflakes are born between years 1981 to 1996. The term was coined by William Strauss, an American author and playwright, and Neil Howe, an American author and consultant. Millennials are also referred to as echo boomers due to a major surge in birth rates in the 1980s and 1990s, and because millennials are often the children of the baby boomers (born between 1946-64).
Millennials across the globe tend to exhibit some common traits. Compared to the previous generation (X) millennials grew up in a more technology friendly environment and they naturally are tech savvy knowing well how to use gadgets, apps, and other technological advancements to their advantage. They are more pampered by their parents and are confident, ambitious and achievement oriented. At workplace, they are more assertive about their needs and are looking for fresh challenges and aren’t afraid of questioning authority. The downside is they are known for being whiney and having an inflated sense of uniqueness and an unwarranted sense of entitlement. In their quest for finding something better and new, millennials tend to not stick to a job for a long time and are prone to job hopping.
Why #BoyCottMillennials is trending
When Finance Minister Nirmala Sitharaman quoted studies and attributed the slump in the automobile sector to the change in the mindset of millennials as one of the factors. Twitteratii found the statement quite bizarre and amusing. Soon hashtags like #BoyCottMillennials and #SayItLikeNirmalaTai started trending as people mocked Sitharaman with memes on how Millennials could after all be behind the slowdown of Indian economy.
“The automobile and components industry has been affected by BS-VI (Bharat Stage VI) [norms] and the mindsets of millennial, who now prefer to have Ola and Uber rather than committing to buying an automobile,” Sitharaman had told reporters in Chennai on September 10. She added that millennials do not want to commit to taking an equated monthly instalment.
How millennials in west are blamed for killing industries
India seems to have taken a cue from the West to blame millennials for killing industries and contributing to economic slowdown. In America for example, there are a host of industries that have apparently been killed by millenials. Napkins, chain restaurants, realty, diamond and doorbells being a couple of them. “Millennial consumers are more attracted than their elders to cooking at home, ordering delivery restaurants and eating quickly in fast-casual or quick serve restaurants, Buffalo Wild Wings’ then-CEO Sally Smith wrote in a letter to share holders in 2017 before leaving the company. Millennials in west are also less inclined to buy a home and pay for EMIs and stick to the flexibility of rented accommodations. Millennials delaying marriages or being in debt are also blamed for slowdown in diamond industry.
(Photo credit: Twitter)
Also read: Modi government fails to deliver on economy, yet again