Millennials May Be Accused Of Killing The Housing Market But They Are Keeping This Business Niche Alive And Well
Millennials have been accused of killing a great many industries from diamonds to chain restaurants to the housing market. The generation reportedly doesn’t patronize certain businesses as loyal as their counterparts in previous generations.
The group’s use of their purchasing power is affected by a variety of factors including the inability to afford the same milestone purchases that their parents did at the same age. However, there’s a certain type of business that millennials are keeping alive.
Walls of Green
With housing prices being unattainable for the current generation, it looks like they’ve found a new way to make their current apartments feel a little more like home. Apparently, the trend among millennials these days is buying plants.
This phenomenon is evident in 28-year-old Elizabeth Margulis’ case. The Chicago-based wardrobe stylist has decked out her two-bedroom rental with 30 plants, which total cost is $1,500. In comparison, she pays a $2,000 rent for her place. And instead of saving up to buy her own home, she’s cutting corners to buy a $250 cactus plant for $250.
While spending this much on plants instead of a house downpayment may seem ridiculous to some, it’s a situation many 20 and 30-somethings find themselves in. With the traditional house with a white picket fence seemingly out of their means, the group is choosing a greener alternative to give their rentals some homey vibes.
Plant Shopping Habits
In fact, millennials are spending so much money on their house plants that their purchases account for a quarter of the $48 billion worth of expenditures made on garden products in 2018 alone. This, despite the fact that the age group’s household income is lower than that of older generations. Meanwhile, Bloomscape founder Justin Mast confirms the reality that more and more people are now preferring to buy plants before springing for a home.
Another interesting thing is the popularity of services like, the Sill, Rooted and Bloomscape, which cater to millennials’ online plant shopping habits. A certain hype for keeping plants is also spread on social media tempting other people to do the same.
A Way to Cope
Another reason why millennials are willing to make changes to their budgets to afford their indoor gardens is that they see it as a form of self-care. Plagued with having insecure jobs and living in cramped urban spaces, the group reportedly see their purchases as part of their health and wellness. Their decision is also driven by the desire to get closer to nature and interior design trends on social media.
More in Business Lounge
The High-Flying Life of ‘Homeless Billionaire’ Nicolas Berggruen
It’s time to discover Nicolas Berggruen and familiarize yourself with his extraordinary life – if you haven’t done so already. The businessman began...May 3, 2023
Creative Ways to Display Plants in Your Space
Indoor plants not only make your living space more inviting and luxurious; they also make your home’s air healthier. It’s easy...April 26, 2023
Japanese YouTuber-Turned MP Gets Fired For “Never Going To Work”
GaaSyy, the Japanese internet celebrity-turned-MP, has recently been dismissed from his position in Japan’s Parliament. The reason? Well, he simply never...April 22, 2023
Most Famous Celebrity Fueds in Hollywood History
Hollywood celebrities are known for their on-screen charisma, glamour, and larger-than-life personalities. However, when it comes to real-life clashes, they are...April 12, 2023
These Private Jet Tours Are Offering an Amazing Vacation At This Handsome Price!
Having seen celebrities jet off to some of the most exotic places around the world for what can only be described...April 10, 2023
Why Being A Celebrity Warrants Million-Dollar Paychecks
Celebrities are some of the highest-paid individuals in the world. These famous faces can command millions of dollars in annual earnings...April 8, 2023
How to Handle Hay Fever
While many people look forward to the arrival of Spring, if you are one of the one in five people who...April 2, 2023
How Walt Disney’s Former Housekeeper Secretly Died As A Multi-Millionaire
Walt Disneyland is the iconic theme park destination. Founded by Walt Disney and opened in 1955, the park has grown to...March 27, 2023
Shocking! Lisa Marie Presley Had Three Life Insurance Policies!
Lisa Marie Presley, daughter of the late music icon Elvis Presley and Priscilla Presley, passed away on April 1, 2021, at...March 14, 2023