The Millennials’ Hit List
Over the last few years, the number of reports and articles blaming millennials for killing this-or-that industry has become something of a meme or funny saying. Yes, there has been a steady decline in the sales of certain things since millennials came of age, like diamonds and breakfast cereal (yeah, weird right?), but these are not the targets of a generational animosity. As times change, tastes change.
Today, more people prefer to eat breakfast on the go with as little clean up as possible, and cereal just doesn't fit into that category. As for diamonds, millennials are far more likely to spend money on experiences rather than material possessions. Couple that with how the diamonds are acquired and the fact that millennials are experiencing more and more debt each year, and it's easy to see their decline as a desirable consumer item.
No business or service is immune to the changes in taste, preference and style accompanying the transition from one generation to the next. To some, it may seem as if millennials have their sights set on killing old-school industries, but others can see how millennials are breathing new life into old-school traditions. While we can’t speak for other industries, we know a thing or two about the world of challenge coins and have seen how millennials are making sure the industry stays strong.
A New Generation With New Ideas
Today, the traditions and uses for challenge coins are changing with the times. Instead of killing the industry of challenge coins, the growing population of millennials in the workplace are finding new ways to use challenge coins, changing up the old-school traditions. Small businesses in everything from entertainment to brewing beer have created custom coins to give to supporters and patrons, while charities and nonprofits create special coins for fundraisers and for spreading the word on important topics like breast cancer and autism awareness.
Millennials value organizations that are trying to make a meaningful difference in the world. This means that nonprofits and strong mission-driven companies are more attractive employment options for millennials who are looking for opportunities to do good in the world, rather than trade their time for nothing more than a paycheck. These values are evident in the challenge coins they make as well. Instead of creating coins for themselves or their team, they will often times create coins specifically to fundraise or help in an important cause.
Personal coins that are handed out as a calling card or substitute business card are still a popular option as well, but they are no longer reserved for the big name corporations of the world or high ranking military officers. These coins, for example, were created by an author named Trent Ready who brings the coins along to book signings and other promotional events. Not only do the coins help promote his brand and image as an author, but they are also meant to show his appreciation to the people helping him along the way.
Millennials are finding new and interesting ways to use custom coins. Whether it's making a unique challenge coin program for customers and supporters, recognizing staff members for their efforts or spreading the word on important causes, the purpose for making coins is always something unique. You don’t have to be in the military to appreciate the important sense of identity, purpose and camaraderie that custom coins are created to represent.
Taking Perspective On The Industry
The idea that millennials are killing off something like cereal or some other familiar industry is all a matter of framing. If you read an article titled Millennials Are Killing Breakfast Cereal as opposed to an article titled Millennials Prefer Breakfast On the Go, you will probably get the same information but come out on the other side feeling differently about it. When you look at something through a different lens or from a different perspective, you will likely find new meaning in it. This, in essence, is how millennials are saving the challenge coin industry. While they are not changing what challenge coins are, they are bringing a new perspective to the industry.
Every generation leaves their mark on the challenge coin industry, changing the way coins are designed, how they are used and where they go, but all generations relate to the feelings of camaraderie, mutual support, appreciation and honor that the coins represent. Instead of making coins only for themselves, millennials are finding ways to share their coins in a way that can make a difference in the world by raising awareness, raising money or simply raising someone’s spirits through an act of kindness.
