With a world population of approximately 1.8 billion, Millennials currently constitute the largest adult population, and in India they make up over 50% of the country's population and are the most important part of today's workforce. , Millennials have a lot of influence and are responsible for making decisions. There are many future trends and graphs for the service sector. They are on the brink of an economic revolution and are playing an important role in home buying and home improvement.
Unlike previous generations, Millennials, also known as Generation Y, are diverse, tech-savvy, and value authenticity, individuality, and social responsibility. This year's Millennials have been seen to be attracted to options that align with their values and clear beliefs, preferring the energy to express their creativity and drive change in the paint industry.
In an interview with HT Lifestyle, Ashok Gupta, MD and CEO of Shalimar Paints, said that 2023 will be decided by the millennial generation, which could also be a hit in the new year of 2024. This trend was emphasized.
- comprehensive color scheme
Millennials lead the pack when it comes to spending on home improvement projects. They are hyper-connected, yet value customization and self-expression. They prefer minimalist designs, rather neutral tones, organic shades, but often prefer options that encourage a sense of retreat. This has led paint manufacturers to introduce a variety of new shades to meet the evolving needs of this consumer group. Painting walls is a unique experience that shapes their attitudes, expectations, and outlooks and provides them with the opportunity to play with the designs that create their dream home. Each stroke of the brush is a conscious decision. With muted pastels, vibrant accents, and earthy hues, they reflect their unique style and vision. This comprehensive and diverse color scheme allows you to create not only a beautiful home, but one with deep meaning. It also creates a calm and welcoming atmosphere that fits well with their lifestyle and meets their individual needs, ethos and style.
- Convenient personalized color palette
One of the hallmarks of the Millennial generation is an emphasis on individuality and self-expression, which is often coupled with a heavy reliance on technology. This unique blend is immediately evident in the way they approach their daily decision-making and thought processes. Millennials tend to take an experimental approach when it comes to home decor. They frequently conduct online research for design inspiration and DIY painting techniques, especially for trendy and customized painting options. Given the inherently laborious nature of the painting process, customers are now gravitating toward quick-drying paints and mechanized painting tools, aiming to minimize disruption to daily life. This change in taste has increased the demand for personalized and convenient painting solutions. These solutions include features such as fast-drying formulations, user-friendly application methods, and the flexibility to customize and blend colors to suit your unique preferences. The integration of technology and innovation not only allows you to experiment with different color schemes, but also increases your confidence in making informed decisions, ultimately simplifying the challenges associated with traditional home painting projects.
- Sustainable and environmentally friendly practices
Sustainability and eco-friendly practices are important to Millennials and lead to greater emotional satisfaction. They are seeking environmentally friendly housing, resulting in increased demand for sustainable options that are long-term investments that align with their values. Millennials are no longer satisfied with just walls and shelter. They are also looking for spaces that reflect their ethical commitments. As a result, paint manufacturers understand these demands and provide a healthier living environment. One of the key changes in the industry has been the introduction of paints that use fewer chemicals, metals, and volatile organic compounds (VOCs). It has been specifically designed to reduce the rapid impact on the environment, making it an ideal choice for those seeking an eco-friendly lifestyle. Additionally, a range of environmentally friendly paints featuring minimal fume emissions, biodegradability, low odor, low VOCs, and water-based alternative paints are also in high demand. This harmony of sustainability, well-being and environmental awareness represents a significant step forward in creating aesthetically beautiful homes that positively contribute to the world.
Ashok Gupta concluded: “Millennials are economically powerful and are leading a new wave of change in the paint industry. Recognizing their tastes and priorities, the industry is becoming more technologically advanced and tailored to their choices and lifestyles. In conclusion, the future is likely to continue to be characterized by a continued emphasis on authenticity, individuality and social responsibility. It will continue to play an important role. But consumers don't just want palette choices, they also want to know what the brand stands for and what it wants to create.”
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