THE FUTURE OF DATING FOR URBAN MILLENIALSFALL 2012 PATRINA CHAN, EMILY LO
FALL 2012 CHAN 3 Forces Economics Technology Social Shifts
FALL 2012 CHAN Economics Dissatisfaction and Youthful Optimism! SOURCE: PEW RESEARCH CENTER Earn enough now! MILLENIAL 31% GEN X 46% BOOMER 52% Will earn enough in the 88% MILLENIAL future! GEN X 76% BOOMER 46% • Critical issue: Job/Unemployment • 1/8 Americans moved back in with parents after recession • More prepared to adapt and are more ﬂexible • Going to college more, full-time and not part time • College degree is the best defense against a recession
FALL 2012 CHAN Technology • Major efﬁciencies in communication, workﬂow and processing • Life events ﬂow through technical communication channels • Sharing information immediately and obviously • Grown up being comfortable with virtual relationships • Shift in privacy attitudes: ﬁguring out how to balance what is virtual and what is real
FALL 2012 CHAN Social Shifts • Delay in marriage • Higher education, higher standards • Greater acceptance of interracial relationships • All about the network
FALL 2012 CHAN Urban Millennials are… Conﬁdent. Connected. Open to change.
FALL 2012 CHAN Hypothesis: The future of dating for Urban Millennials is mobile. Dating is one of the few applications of technology that requires an in-person meeting for success.
FALL 2012 CHAN Client Proﬁle • Ambitious growth plans: 3,000 new stores in Americas by 2017 • China will be Starbuck’s second-largest market • Will double global channel development • Bought tea company Teavana, which will supplement existing Tazo brand
FALL 2012 CHAN Trend Actions 1 Update the Verismo 2 Build future Starbucks coffee houses around communities