There’s been lots of consternation about where the millennial generation is going to be steering us. The term refers to those born between 1980 and 2000. I was surprised to read that it’s actually a larger group than us baby boomers, which is why there’s so much interest in the direction they take. So when I ran into a couple of very interesting bits of info, I thought sharing would make a reasonable Sunday post.

First, while lots of retailers are dithering about whether millennials are going to be the ruin of their business models, there’s an outfit called Camping World Holdings which is riding a millennial tide. This is a company that has been consolidating the recreational vehicle sales business, buying dealerships and turning making them part of a chain. When I think of RVs, I have an image of retired couples heading off into the sunset driving or towing a big bloated camper. Apparently that’s a very dated view.

Camping World Holdings, Inc. has become “one of the most well-known destination for everything RV, with over 135 retail locations in 36 states and comprehensive e-commerce platform.”

And the company believes millennials are the wave it is riding.

Here’s an excerpt from the company’s earnings call with financial analysts following the release of its most recent quarterly earnings. One phrase knocked me over: ” Millennials remain the fastest-growing demographic across the RV industry…”

Demand for recreational vehicles continues to be strong and we’ve really seen no change in the underlying fundamentals driving this business. We continue to see a shift, however, to smaller towable units, and younger buyers entering the market. Our F&I penetration rates remain very good with the sale of our products and F&I margins increasing, and our consumer services and plans segment contributing to our strong profit margins.

Interestingly enough, Millennials remain the fastest-growing demographic across the RV industry and we believe this is partially driven by their active outdoor lifestyle and the way they are integrating RVs across a wider variety of activities such as weekend soccer tournaments, hunting, fishing trips, tailgating events, and other camping and outdoor activities.

With our focus on smaller less expensive units and driving down our RV selling price, we believe we are well-positioned to serve this younger outdoor enthusiasts. Not only does this widen our target market, but it allows us to cross out a comprehensive portfolio of higher margin recurring revenue products and services across a wider database of customers.

And the company sees this continuing.

Based on what we’re seeing on a daily basis through our stores and what we’re seeing in terms of our lead generation, which is a good canary in the coal mine, I still believe that we’re at the beginning of the game and we just don’t see anything. What’s that’s slowing us down.

What we believe is driving that compared to what we’ve seen historically is the fact that as we’ve driven down our average selling price and as millennials have become a bigger part of our universe because of their affinity to the outdoor lifestyle and our connection to it, we don’t see anything in the near future that gives us any reason to believe that we’re in the middle or the end of the game. We feel like we had plenty of room in front of us and I don’t feel one bit of headwind.

So Sears and Macy’s may be dying, but Camping World Holdings is on a millennial roll.

That led me to look for more info on this generation, which I found in a good infographic from, well, Goldman Sachs.

Check out the infographic here. It’s pretty rich with data.

The Goldman Sachs conclusion:

The Millennial generation is the largest in US history and as they reach their prime working and spending years, their impact on the economy is going to be huge.

Millennials have come of age during a time of technological change, globalization and economic disruption. That’s given them a different set of behaviors and experiences than their parents.

They have been slower to marry and move out on their own, and have shown different attitudes to ownership that have helped spawn what’s being called a “sharing economy.”

They’re also the first generation of digital natives, and their affinity for technology helps shape how they shop. They are used to instant access to price comparisons, product information and peer reviews.

Finally, they are dedicated to wellness, devoting time and money to exercising and eating right. Their active lifestyle influences trends in everything from food and drink to fashion.

I learned something today. I hope you find the info intriguing and potentially useful as well.