Hipster dollar carries heavy weight as millennials come to market
Now hipster products are spreading beyond urban centres like Brooklyn, San Francisco and London’s Shoreditch, where they originated. Mainland China imports a lot of its hipster culture, often from South Korea, which has been enjoying a surge in microbreweries as the country’s younger, affluent seek a change from the limited array of drinks enjoyed by their parents’ generation.
In his book, Flat White Economy, named after the milky coffee favoured by “advanced techie geeks, marketing people to creative types”, he forecast that one-third of the UK’s economic output will depend on the digital industry by 2025.
“Hipsters don’t have many dependants. They’ve got identifiable spending patterns and homogenous tastes. But they don’t want others to copy them, so they keep up by changing their tastes, by moving on to the next things,” said Mr McWilliams.