The Millennials’ Case for Renting…Anything!

Millennial Technology

In recent weeks, there have been a slew of articles written about why the Millennial generation isn’t buying the way previous generations have bought. And we’re not just talking about the places we call home. From the way we choose to have our entertainment delivered, to how we shop for outfits, to our modes of transportation, Millennials like variety…almost as much as we like flexibility. Here’s a look at some of the ways Millennials are taking advantage of technology to add both variety and flexibility to our everyday lives.

Clothing
It can be hard for Millennials to justify spending hundreds of dollars on a dress we are only going to wear once or maybe twice a year. Rent the Runway is an incredible solution. The variety of gorgeous outfits initially sold me on the service, and the quality of the items I’ve rented has been impeccable. Order it online, or on their mobile app, and it shows up at your door two days later.

Television
With options such as Hulu Plus and Netflix, for a fraction of the cost of cable or satellite television, we are able to essentially rent the shows we want. Anything we can’t find via these subscription services, we can almost certainly find online for free. Not to mention that these subscription services are completely mobile – so we can watch our shows on an airplane, by the pool, or in a park.

Music
Like television, Millennials also have the opportunity to “rent” music through services such as Pandora. Not only is it inexpensive (and oftentimes free), but the spectrum of music available is vast to say the least. Why buy one album if we only want to hear one song from an artist? For this generation, variety really is the spice of life, and music subscriptions provide that variety.

Transportation
Car2Go, Uber and Lyft allow Millennials to get anywhere they need to without having to own a car. With low fares, we can catch a ride wherever we want to go in the cities we live, work and play. These car services also eliminate the added expenditure of auto insurance and maintenance/upkeep.

While an argument can likely always be made for owning your car, CDs, or perhaps even clothing, the case for renting is only getting stronger. Certainly for the Millennial generation the benefits of flexibility, variety, and convenience offered through renting many of our lifestyle amenities are far more attractive than being locked in to long contracts and expensive monthly bills.


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