CatzWillRise said:
Is this just a millennial thing though? I've read articles where they say millennials supposedly spend their money on experiences over material goods. Shouldn't this count?
There a lot of factors here. Increasing price inequality combined with increasing costs to attend games does not make for a frugal experience. To increase revenue, games that are on TV (which is most for any school nowadays) means tons of TV timeouts which kills the buzz. Overpriced gas station food. Increased security measures adds time and hassle to getting into the game.
It's a problem of a better product being produced at home, along with higher and higher ticket prices for an experience that doesn't always match that price (i.e. 50 bucks or more for nosebleed seats), and recent graduates dealing with all the modern issues of gong to a football game (which you laid out) while during their undergrad. So the stupid shenanigans that most would have gotten away with 30 years earlier doesn't fly anymore. It takes away some of the good memories that a lot of older people have that keep them coming to football games. If recent grads don't have that to draw on, it's a problem. They won't keep spending for an experience that doesn't quite live up to the hype.
CatzWillRise said:
Millennials earn roughly 20% less than Boomers did at the same stage in their life, and have about half as much net wealth.
Important to remember a thing called inflation here. You know, the thing that makes it so damn expensive to live in California or Seattle vs Montana? So, boomers, I really don't give a shit if you made $2.90 an hour in 1975 right out of high school, because that's the equivalent of 10 bucks an hour in today's money.
CatzWillRise said:
Plus the average monthly student loan payment for someone aged 20 to 30 years is $351 per month. The average salary for millennials is $35,000. Using those averages, your average college graduate millennial spends over 12% of their income on student loan debt.
Gonna be few people in this thread who will suggest that most americans shouldn't pursue higher ed, but the ceiling there for
damn near everyone without a college degree in the modern world is working at Kwikway or McDonald's.
CatzWillRise said:
So yes, there are going to be a lot of industries hurt by this frugal generation.
And yet, most of this generation will still be lumped in with the shitty "yoga and avocado toast" section of millennials, the select few who can still buy whatever shit they want and are "so broke" when they cant afford spotify premium.
