While adulting has become a popular meme over the years, Adulting School is no joke. Launched in Portland, Maine, earlier this year, this school is attracting Millennials who want to learn things like how to budget their income, pay their credit card bills and efficiently manage their time. According to data from Pew Research, many Millennials are postponing marriage and buying houses later in life. As a result, many have deprioritized learning some of these life skills.
While it may seem silly to have to learn some of these things in a special school, not knowing how to do them is becoming a real source of stress for the Millennial generation. Marketers and brands have responded full-on to what we at Mindshare have identified as the Peter Pan Market, catering to the needs of those who are anxious about transitioning into adulthood.
And while many adult responsibilities are either a hassle or just mundane, brands are finding ways to incentivize getting the important things done. For example, Manulife Canada created a new life insurance policy dubbed Vitality. It rewards people for completing healthy activities, such as scheduling an annual checkup or taking an exercise class.
By appealing to everyone’s inner child, brands and marketers can engage consumers through playful marketing tactics or strategies. Millennials may resist growing up, but at least they’re finding ways to make the process more enjoyable.
Originally posted on MediaVillage.