Cruise Directors are not trying to win over millennials

[John&LaLa]

35 minutes ago, xpcdoojk said:

 

That high?  

 

JC

 

Its proving to be an overly ambitious number 😉

[CRUISEFAN0001]

19 minutes ago, rbschultz said:

 

It is the state of business now. MOST companies follow this practice. Your Fortune 500 and tens-of-thousands of employee companies don't represent the large majority of the US workforce. If most companies followed the large merit-based raise practice we'd see a larger than 4% wage growth YOY. 

We'll just have to agree to disagree - as almost no one in my technology industry meets your situation but they actually DO GET larger merit raises. Apparently their employers feel they're worth it and desire retention. That line of discussion is off-topic anyway. 

 

The post right above inspired an interesting thought...maybe the parents of millennials is a more opportune and profitable marketing target, as they already house (and fund) plenty of that demographic segment.

 

[HBE4]

25 minutes ago, CRUISEFAN0001 said:

Since no one has yet proven there is any financial or business benefit to cater to this population segment based on age demographic alone, we're all still floating along on opinions, mine being no more or less than yours.

 

I kinda forgot what your original point was.

 

But these people may have an opinion that counts more than yours, mine and everybody else on this thread. And they think millennial's are willing spend $$$.

 

https://www.travelagentcentral.com/cruises/clia-millennials-seeking-out-luxury-cruises-at-record-pace

 

Feel free to google "millennial and cruising" and you'll come up with a dozen other links supporting this.

[Don'tNeedAName]

17 minutes ago, CRUISEFAN0001 said:

Exceptions to every rule. My own millennials are as well.

 

WOW - myopic - that's a big word for some folks.

 

Since no one has yet proven there is any financial or business benefit to cater to this population segment based on age demographic alone, we're all still floating along on opinions, mine being no more or less than yours.

 

Happy sailing.

 

For some folks, I guess, but it fits your comments to a T.  I suspect no amount of back and forth will serve to "prove" anything to you.  And yet...

 

No financial or business benefit?  Plenty of studies have concluded that millennials spend more money on experiences than other groups.  One example, see here: https://www.mckinsey.com/industries/private-equity-and-principal-investors/our-insights/cashing-in-on-the-us-experience-economy.

A couple of key quotes:

• Consumers of all ages are opting for experiences, with millennials leading the charge.
• Millennials spend more than Gen Xers and boomers on experiences.
• The fact that millennials are now the largest spending cohort, and that the cohort of higher-income consumers is growing as well, creates greater confidence in the sustainability of the trend.

Emphasis mine.  So yes, I would say your opinion that there is no financial/business benefit to catering to millennials is lacking.  The summary of McKinsey study also included this part on travel:

"In addition to shifting spending toward local events, activities, and restaurants, consumers have been splurging on travel. A foreign-travel boom has lifted expenditures by 6.6 percent a year, while spending on domestic hotels and motels has increased at an annual rate of 6.0 percent. Spending on packaged tours has increased at a slightly lower rate than overall PCE—but one higher than spending on goods."

 

For a cruise line like RCI that seems focused on experiences and "ship as a destination" type cruising, especially, that seems like a demographic ripe for the picking.  Get them on board, and give them experiences they want to throw money at (as studies have shown they are willing to do).

[CRUISEFAN0001]

3 minutes ago, HBE4 said:

 

I kinda forgot what your original point was.

 

But these people may have an opinion that counts more than yours, mine and everybody else on this thread. And they think millennial's are willing spend $$$.

 

https://www.travelagentcentral.com/cruises/clia-millennials-seeking-out-luxury-cruises-at-record-pace

 

Feel free to google "millennial and cruising" and you'll come up with a dozen other links supporting this.

Statistics can be manipulated to support almost any thought...learned that a long time ago. Candidates don't mean customers - not until they are qualified candidates. That's where values, attitudes, and needs come into play...not at all part of mundane market segment estimates.

 

Posts 202 & 203 say it all, as far as what really matters on this topic.

Edited February 21, 2019 by CRUISEFAN0001

[HBE4]

7 minutes ago, CRUISEFAN0001 said:

 

The post right above inspired an interesting thought...maybe the parents of millennials is a more opportune and profitable marketing target, as they already house (and fund) plenty of that demographic segment.

 

 

Or, another way to look at it, is that since the millennial is living at home with their parents, they have more disposable income. Even if they are paying rent to the 'rents and contributing to the shopping, it's still probably less then if they lived on their own. Hence more money for fun & experiences.

[CRUISEFAN0001]

2 minutes ago, HBE4 said:

 

Or, another way to look at it, is that since the millennial is living at home with their parents, they have more disposable income. Even if they are paying rent to the 'rents and contributing to the shopping, it's still probably less then if they lived on their own. Hence more money for fun & experiences.

If that were true...they'd likely be disposing it on things that matter.

 

 

[Don'tNeedAName]

4 minutes ago, CRUISEFAN0001 said:

If that were true...they'd likely be disposing it on things that matter.

 

 

 

Matter to whom?  I suppose you are also the final arbiter on what "matters" as well.

[Iamcruzin]

40 minutes ago, HBE4 said:

 

Funny thing. Every time I go to Atlantic City or Foxwoods, there is always several groups of "younger people" partying in their hotel rooms all night long.  I don't get it. Why spend hundred's of dollars to hang out in a hotel room? Why not just stay home & party in their own bedrooms?

 

I think you might have answered my own question. It never occurred to me that many of them might still be living with their parents.  Still, with the plethora of bars and clubs available downstairs, it's baffling....

If they don't leave their room why do they even need a Cruise Director? Free room service would a plus.

[CRUISEFAN0001]

50 minutes ago, Don'tNeedAName said:

 

Matter to whom?  I suppose you are also the final arbiter on what "matters" as well.

Nope.  No one here is.

 

Interesting piece - suspect the only reason it was published is that it is such a rare exception case proving "it can be done" the old fashioned way...hard work, dedication, commitment, and good things will happen.  All her life tests and eventual successes happened as a millennial. Now she's 37. She can go on a cruise anytime she wants.

 

https://www.msn.com/en-us/money/personalfinance/the-budget-breakdown-of-a-37-year-old-ex-cia-analyst-turned-energy-healer-who-makes-dollar108000-a-year/ar-BBTOGzK?li=BBnbfcN

 

By the way...I work with, have raised, and know plenty of successful millennials - and most of them are among the biggest critics of their own peer group. The also can all go on a cruise if they so choose...and actually....many of them have done so.

 

So yes...there is a market in this demographic group. But not one that necessarily warrants the world being turned upside down for just them - there's no proven profit incentive yet to earn that distinction - only some "could be customers maybe" statistics.

[mcatmcat]

On 2/13/2019 at 7:09 PM, gsb said:

There will never be another Richard Spacey.

agree

[jstraw20]

Imo (and I'm marginalizing myself in the process) it makes complete sense to cater try your best to cater to the 30-50 age group, that's where the money is. Younger and they don't have the $$, older and you're catering to a dwindling demographic. Harsh but true. So.. catering to millennials makes good business sense as they're your potential long term customers.