No industry is exempt from their influences, including the death care industry. Millennials impact will change the way business is conducted in the funeral home and cemetery industries. As one of the largest generations in history is about to become the prime spending source, it is important to be cognizant of their ideas and beliefs and be prepared to adapt as necessary to meet their needs.
Millennials have been raised in a period of unprecedented technology growth and are considered the most marketed generation of all time. As such, their spending habits and beliefs have been impacted in ways that no generation has before. This will impact the way business needs to be conducted in the death care industry. As providers of death care services, you need to consider the following when working with this generation of consumers;
Millennials are more than just consumers of your services. By the year 2030, only 13 years away, the prediction is that millennials will comprise up to 75% of the workforce in the death care industry. Current owners of funeral homes and cemeteries need to invest in and make millennials an integral part of their service teams. Not only are they able to multi-task to accomplish more job responsibilities in shorter periods of time, they also possess a unique perspective on media and advertising that you will find beneficial when discussing your future advertising.
As Goldman Sachs says “One of the largest generations in history is about to move into its prime spending years. Millennials are poised to reshape the economy; their unique experiences will change the ways we buy and sell, forcing companies to examine how they do business for decades to come.”
Take advantage of these opportunities and don’t get left behind!
If you have any questions or would like additional information, please fill out the form below.
|William Newman, CPA, Partner
T (609) 520 1188
[gravityform id=”3″ title=”false” description=”false”]
To ensure compliance with U.S. Treasury rules, unless expressly stated otherwise, any U.S. tax advice contained in this communication is not intended or written to be used, and cannot be used, by the recipient for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code.