A piece in the Financial Times looks at some of the economic characteristics of millennials as a group in the UK and the effect on the economy. Arguably, some of those observations may be pertinent more widely. For this section of the population, home ownership rates have collapsed, wages have dropped and degrees have become wildly expensive. The shifts in pensions, housing, and employment have transferred more risk and instability onto the shoulders of young people. Ironically, the best-educated generation ever, who can, furthermore, start companies from their bedrooms, are more risk-averse, will move less far and less frequently, and are therefore using these opportunities less. The consequences for retail need to be drawn out.

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