LSN : News : Stat: Millennials have counter-intuitive money habits

These flags warn beachgoers about dangerous UV levels

Heimat Berlin and German Cancer Aid, Germany

Germany – Most beachgoers are accustomed to flags alerting them to unsafe swimming conditions, but UV rays – one of the most threatening risks on the beach – rarely receive the same level of attention. Now, creative agency Heimat Berlin is partnering with German Cancer Aid on a flag and microsite that warns beachgoers of the risks of sun exposure in real time.

The new warning system, which has been dubbed Watch Out at the Beach, notifies beachgoers about how harsh the UV rays are. Whenever the flag is flown, sunbathers are prompted to consult the corresponding UV-Index chart, which is positioned at the flagpole’s base. There is also a QR code that grants access to a microsite with more resources and warning about the UV rays. ‘The flag design is simple, bold and eye-catching. It should alert people to the possible risks of the sun from the first minute they see it,’ says Tom Hauser, executive creative director at Heimat Berlin.

With temperatures soaring all over the world, and people visiting the beach to seek respite from the heat, it’s more important than ever for consumers to protect their skin. This campaign shows how companies and governments can design responses to the climate crisis.

Strategic opportunity

Warning systems like these shouldn’t just exist at the beach but in cities too, where pollution and smog compound the dangers of UV rays. Consider how your company can help protect urban consumers against sun exposure

An immersive art experience highlighting global issues

Wake The Tiger, UK

Bristol, UK – Combining both leisure and education, alternative art experience Wake The Tiger is inviting visitors to learn about global issues in an engaging and interactive way. Described as an Amazement Park, the venue invites guests into the fictional world of Meridia, where they can experience 27 creative activations, ranging from artwork and installations to soundscapes and secret passageways.

The journey focuses primarily on the relationship between humans and the world, considering practical insights relating to the climate crisis. Led by the team behind Boomtown Fair festival, with creative branding by Taxi Studio, Wake The Tiger captures the escapist nature of festivals and translates it into an evolving, collaborative space.

By exploring harrowing and complex topics in a digestible and entertainment-driven way, the concept sets an example to other venues hoping to embed knowledge exchange into leisure experiences. Stu Tallis, creative director at Taxi Studio, says: ‘The brand needed to be scalable to accommodate the possibility of replicating the experience across the country and becoming a multiverse.’ Here, the experience shows how the shift to Post-modern Museums continues to evolve.

Strategic opportunity

Sustainability-focused organisations should take note of this initiative and similarly consider how interactive public venues can be used to share important facts and practical ideas

CryptoPunk NFTs get the Tiffany treatment

US – After flaunting a custom-made pendant of his CryptoPunk non-fungible token (NFT) in April on Twitter, Alexandre Arnault, the head of fine jewellery company Tiffany & Co, is offering other CryptoPunk owners a chance to buy a hand-crafted necklace with a pendant modelled after their token.

The pendants, which will cost 30 ETH, about £46,185 ($55,750, €54,725), will be made of at least 30 diamonds or gemstones and hang from an 18ct gold chain with five pavé diamonds on the clasp. The necklace will be exclusively available to owners of a CryptoPunk NFT, giving them the chance to turn their digital asset into a piece of limited-edition jewellery.

On the brand’s website, the company talks about wanting to remain as faithful as possible to the imagery of the NFT. ‘To create the 3D glasses, Tiffany designers will leverage baguette stones,’ says the company. ‘CryptoPunk colours are represented as closely as possible using the natural colours of various gemstones.’

With only 250 pendants available, CryptoPunk holders must act quickly to secure their pendant on a first-come, first-served basis. By drumming up anticipation for the sale, and translating Crypto Affluence to the offline realm, this is a perfect example of Neo-wealth Wears.

Tiffany & Co and CryptoPunk, US

Strategic opportunity

How can companies plug into existing communities by issuing exclusive items for members that only they can redeem?

Stat: Millennials have counter-intuitive money habits

Photography by SHVETS production, Global

While Millennials are generally wise to money matters, and often considered better at managing their finances than other generations, a recent report by market research firm GWI reveals this group’s contradictory spending behaviours.

According to the report’s analysis of Millennial lifestyles, this group is more likely than other generations to be impulsive with their purchasing (35%). The research also outlines the paradoxical behaviours of this group, with many being cautious about money, while also being willing to invest in riskier assets. GWI reports that the number of Millennials investing in cryptocurrency, for example, has grown by 65% since 2019. ‘It's clear that this is a generation with an awareness of their responsibilities, but they still want to enjoy life, look after themselves and take some risks when it comes to investments,’ says Jason Mander, chief research officer at GWI.

With the Cost of Living crisis becoming an increasing concern across generations, Millennials are likely to benefit from brands’ and banks’ Financial Wellness initiatives that address or rebalance impulsive habits.

Strategic opportunity

Fintech services can consider creating accessible guidance to better educate Millennials about non-traditional assets such as cryptocurrencies and digital goods