Tesla is the First Car Maker Up on a Millennial Trend
The word “millennial” often conjures an image of a single, underemployed barista with thousands of dollars in student loan debt living in her parents’ basement. And while one in three young adults do indeed live at home with their parents, most of them are out of the nest—and many are nesting themselves.
We identified this trend last year and got to looking at what millennial nesting looks like. The stats we found were fascinating.
While many millennials aren’t getting married (or at least not as early as previous generations), they are still settling down. The percentage of adults in cohabitating relationships has gone up by almost a third since 2007. Roughly half of the 18 million people in such relationships are millennials. For millennials ages 25-34, more than half are cohabitating or married.
First, everyone from The New York Times to VICE has declared that, for millennials, “staying in is the new going out” (think Grubhub and Netflix rather than dinner and a movie). It’s well-established that millennials spend more money in restaurants compared to other generations, but they’re increasingly spending that money on takeout and delivery.
For millennials, nesting also means improving their surroundings. They may be buying homes later than previous generations, but once they do, they spend big money on renovations. According to a survey by Better Homes and Gardens, 63% of millennials say customizing their home to their tastes is a top priority and another survey found that 25-to-34 year-old home owners spent an average of $26,200 last year on renovations.
But the biggest and cutest trend in millennial nesting is dog ownership. An astonishing three-quarters of Americans in their 30s—which is to say, mostly millennials—own dogs.
A survey even found that a third of millennials who purchased their first home did so, at least in part, to make space for their dog.
That’s why Tesla’s new Dog Mode is a brilliant addition to their product that speaks right to the millennial market. (It’s also the sort of idea that someone definitely should have thought of already!)
The feature will keep unattended pets inside a Tesla vehicle at a comfortable temperature and, using the massive screen that controls the car’s systems, will also let well-meaning passersby know that the pets are safe.