Scrolling through the generations, we have finally come up with a new demographic cohort that has real influence, buying power, and hasn’t been studied to death. This collection of diverse, affluent, educated women were born between 1980 and 1994, making them 22 to 36 years of age. Of the almost 80 million of these consumers, about 9 million are moms, quick math, about 11 percent. They also account for 90% of the new mothers in 2016, about 1.5 million.
So, what should we know about this important, influencer group? Here are 10 facts to embrace for your retail and entertainment businesses to grab their attention and keep this business:
- These ladies are highly connected with their social media accounts. They spend 17 hours per week with Facebook, Twitter and Pinterest.
- On that same not, 83% use video-sharing sites to keep connected with friends and family and to show off their adorable offspring!
- Less than half are stay-at-home moms, at 45%, (according to a BabyCenter.Com survey). However 60% think a parent should stay home to care for children, compared to 55% of Baby Boomers. Not too much of a difference with these two cohorts Millennials are teaching their kids to be open-minded and encouraging them to find ways to develop their own thinking skills and unique personality.
- Millennial parenting is all about experiences!!!!! This means they will play, shop, work and eat with these kids. What an opportunity for our industry!
- Roughly 90 percent share information about a purchase they have made and services they have used.
- Millennials believe their careers do not mean 9 to 5 cubicle work. They embrace working from home, cutting down on office costs and commute times.
- One in five moms survey by BabyCenter have started a blog with substantial followers and half report plans to start their own businesses.
- A Nielsen study shows that 62% of Millennials prefer living near amenities associated with urban centers, so maybe they aren’t all moving to the burbs!
- These moms are very health conscious. They are switching fast food for more healthy, fresh local sourced food.
- They are not tied to one form of parenting including a “baby-wise parent”, “a metric parent”, or a “free-range parent”, or a “helicopter parent”. For every type of parent there are meet-up groups, online forums, blogs or communities that offer support and advice.
Based on these trends, who is doing a good job in terms of marketing to these ladies?