There’s a new found respect and admiration for the people that are commonly referred to as Millennials. That tech savvy generation is a social media using, money spending, group that does things differently from the generations that came before them. The baby boomers on Instagram have gotten most of the attention from retail and wholesale companies over the last 30 years, but those folks are going into retirement mode and they are spending less money on the things that make the American economy grow. Big corporations are depending on the Millennials to pick up the slack, but most companies don’t know how to reach the people in their 20s and 30s.
Millennials appreciate value and service, but they also depend on social engagement to a fault, according to some experts in the marketing industry. But a young New Yorker disagrees with the experts. That New Yorker is Billy McFarland, the founder of Magnises, and the founder of the online platform Spling. Magnises is the private club that offers Millennials a black card that resembles the black American Express card that some baby boomers cherish so much. The black Magnises card can be linked to a debit or credit card for a $250 yearly fee and when it is activated, a world of perks open for the Magnises members. Magnises is up and running in New York and Washington, but McFarland plans to open Atlanta, Boston, Los Angeles, and London soon.
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The Magnises private club concept is something that 12,000 Millennials have cozied up to in New York and Washington because McFarland knows what young professional Millennials want to spend their money on. Magnises offers members a $99 a year HotelPass and a ClubPass that gets them into the trendiest nightclubs in New York. A Magnises membership also can get them a table at the top restaurants in the Big Apple and in Washington. Members can also book a $99 a night hotel room at Dream Hotel locations. Magnises gives Millennials that work in the fashion, tech, and finance industries a reputable voice in the retail and wholesale industries. Magnises members are more than Millennials, according to McFarland. They are card carrying consumers with clout.
The Member only club concept has been around for years, but Magnises is different, according to some of the companies that are hosting events for Magnises members. Those companies know that Magnises members want things their way and big companies want to give them what they want when they want it.
McFarland is quick to point out that Magnises isn’t for every Millennial. There is a segment of the Millennial market that is deeply in debt because of student loans and the inability to find a job for various reasons. Magnises members are the cream of the Millennial market, according to McFarland. McFarland wants to cater to young professionals that have the money to buy expensive toys and take extravagant trips. He knows his private club concept will catch on in big cities around the country, so he’s not wasting time trying to get Magnises going in the small cities. Millennials like McFarland don’t like to waste time.
Learn more about Magnises: https://en.wikipedia.org/wiki/Billy_McFarland_%28entrepreneur%29