Born between 1981 and 1996, Millennials are fast becoming one of the most important generations when it comes to marketing. Now aged between 22-37, the generation is having a huge impact on the workforce and businesses of all kinds can no longer afford to ignore the preferences and interests of the age group.
When it comes to house buying and home renovations, there’s one thing that Millennials value above almost everything else: energy efficiency. As well as helping them do their bit for the environment, an energy efficient home helps to cut running costs and take the pressure off personal finances. Keep reading to find out more.
Why is energy efficiency important to Millennials?
Unlike the generations that came before them, Millennials grew up learning about the dangers of manmade climate change. From the disappearing ozone layer to melting ice caps and rising sea levels, Millennials have had to hear about the consequences of human activity since day one.
As a result, they’re a lot more interested in the environment and on minimising their impact on the world around them. Millennials instinctively understand that saving energy in the home is an important part of reducing carbon emissions, and are more likely than any other generation to actually take action and do something about it.
Millennials will pay more for energy efficiency
Energy efficiency is so important to Millennials that many are willing to pay more for products and services that boost energy efficiency or that are drawn from renewable sources. As @PRNewswire reports, “Although there is a growing willingness amongst all consumers to pay a surcharge on their electric bills for developing sources of renewable energy – the highest support was among millennials and lowest favorability was among matures.”
What Millennials love of energy efficiency means for wider markets
Businesses in a wide variety of industries need to be aware of the importance of energy efficiency for Millennials. Energy companies need to adjust their policies in order to take this interest in renewable and efficient fuel sources into account and builders need to ensure that the homes they erect meet the high energy efficiency standards Millennials have come to expect.
If you’re a homeowner currently looking to sell a property, there’s a good chance that Millennials are your target market. Making a few eco additions to your home could therefore help to make it more attractive to potential buyers.
Consider replacing your existing windows and doors with energy efficient new ones. This can have a big impact on the efficiency of your home and make the property a lot more appealing to environmentally aware buyers.
Find out more about the importance of energy efficiency, and how our windows and doors can help to make your home more attractive, by taking a look through our online galleries or getting in touch with a member of our team.