As the large population of Baby Boomers moves out of our view, investors around the world are shifting their focus onto Millennials.Approximately 80 million Americans were born into the millennial generation, illustrating the significant power that this age group will have in the years ahead.Which industries are affected?So, what are the industries Millennials are leaning away from for the next few decades? Jeff Reeves from InvestorPlace.com illustrates five industries that run the risk of not having the millennial stamp of approval: cars, cable TV, brick-and-mortar retail, homebuilders and soft drinks.The majority of Millennials prefer living in urban areas where a hop, skip, or a walk to work is the norm. Even when car commute is needed, the Millennials would rather opt into car-sharing services like ZipCar or share rides using services like Uber.Millennials are also shifting away from traditional cablevision companies such as Time Warner Cable and Comcast to more flexible and affordable video streaming options like Netflix and YouTube.Not new to investors is the trend towards ecommerce. Online sales continue to outgrow retail sales, and the stores that do not shift fast enough to build an online presence will quickly be left in the dark and out of the Millennials' wallets.Millennials are not interested in taking on a mortgage on top of their current financial struggles, making homebuilding a dwindling industry over the next few years. Millennials are not the suburbia-living type, nor do they want to work the rest of their lives to pay off a mortgage.What companies can do about itCompanies like Coca-Cola and Pepsi will have to continue diversifying their product range beyond their classic sodas. In general, Millennials drink much less soda, which reflects the growing trend towards energy and sport drinks.Investors and businesses will have to think strategically about which industries to avoid in order to attract the Millennials and their growing consumer power.Original ArticleReeves, Jeff. "5 Industries That Millennials Are Destroying Jeff Reeves's Strength in Numbers." MarketWatch. N.p., 23 June 2014. Web. 23 June 2014.
