Millennials are now the largest demographic in the workforce,which has led to changing trends in consumer behaviour as their spending power increases.So how will the habits of millennials shape our circular economy aspirations? Tim Price,Marketing Director at DS Smith Recycling,discusses how the habits of millennials will shape our circular economy aspirations.The circular economy is not a new concept.In 1976,Walter Stahel and Genevieve Reday outlined their vision for an economy in loops for a European Commission research report.The drive to adopt circular economy practices has become more urgent in recent years,due in part to changing consumer attitudes and habits.Research focusing on these changes often identifies trends among 'millennials'-people born between 1981 and 1996,or the first generation to come of age in the new millennium-because the demographic balance of society is shifting.1 In 2016,millennials became the most populous generation in the workforce,with 1 in 3 workers in the US alone born after 1980.2 Between the increase in millennials' spending power and the rise of digital technologies,shopping trends and consumer habits are changing-and all this against a backdrop of increased recycling targets as part of legislative changes such as the EU Circular Economy Package.
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