Millennials tend to choose experiences over possessions
What’s more, they would rather take a nice trip than have money in the bank, because saving is always possible later. These preferences make a kind of psychological sense, for while the happiness of new things quickly disappears, an experience provides ongoing happiness through the accessing and reliving your pleasant memories. Moreover, experiences connect people with each other, because you take them in together, or share them later with others. It’s not for nothing that the term “bucket list” – a collection of experiences that you want to experience before your death – is now included in the Van Dale dictionary. A Dutch brand that has capitalized well on this shift toward experiences is Polarsteps. With the Polarsteps app, friends and family can follow you closely and enjoy your trip live and in the moment. Forget the old-fashioned hours of tinkering with your photo album – instead, Polarsteps automatically registers where you have been and leaves a trail of footsteps to which you can later add photos and text. It’s a simple way to immortalize and share travel experiences, including with those left behind at home. The app inspires and connects – a purpose that is completely in line with the new generations and its focus on experiences instead of possessions. This holds a wise lesson for other brands, because by understanding the needs of the target group, Polarsteps has raised 1.25 million euros in funding, all with a marketing budget of zero.