Millennials have been a pivotal force in the resurgence in America’s urban areas. According to a Journal of Regional Science study, they are 21% more likely to buy homes near city centers than Gen Xers. This is positive news for urban markets; however, as congestion in cities rises due to growing populations, so does the strain on existing transportation systems.
To solve this issue there has been an increase in the number of micromobility start-ups — including ride-hailing platforms like Uber and Lyft, bike-share programs like New York City’s Citi Bike, and electric-scooter rental services like Bird, Lime, and others.
Micromobility refers to short-distance transport, [...]
Use of sharing economy services can require a good deal of trust — agreeing to get into a stranger’s car or showing up at their home to spend the night requires a leap of faith by the consumer that doing so will not put them in danger — or at least no more so than the taxicabs or hotels they would be utilizing otherwise. Thus it isn’t surprising that a large majority of users (60%) said they considered personal safety a key factor they thought about when choosing a sharing economy service, according to our latest report on the sharing economy.
Meanwhile, the second most prevalent factor in their consideration was “saving money” at 46%. Because of their increased [...]
Over a third of Millennials (23-38) carry less than $10 in cash with them daily according to recent data from our Mobile Technology Monitor™. In fact, Millennials (23-28) were more likely to spend money via a mobile payment system than they were to use cash, with 43% of total purchases bought by a mobile transaction.
The study found that 68% of Millennials (23-38) that use mobile payments do so every week. This age group is rapidly transitioning from cash transactions to digital ones.
When asked what mobile payment platforms they have used, Apple Pay led the way with 44% followed by Google Pay at 34% and Samsung Pay at 22%, for [...]