Food is emotional. This emotional connection couldn't be more true than among semi-acculturated Latina Millennials aged 18-34.
The role of women has changed substantially over the past few generations. As a result, today's moms are empowered by a different set of tools and are confronted with a different set of obstacles.
As a working mom, I am starting to feel the heat of a waning summer season. How am I supposed to relax when I am juggling work, parenting a kid with too much free time and starting to prep for the new school year?
When was the last time you watched a TV commercial and thought, "Wow, I do need to buy that vacuum!"? Or how about the time you clicked a digital banner ad featuring the shoes you just admired? Guess what? it's not the way mom shops, either.
Recently, The New York Times turned its attention to women without children and marketing to this group. If you missed the article on July 10, you can read it here. I was fortunate enough to be a part of Alina Tugend's article that referenced the lucrative mom market. Tugend worked on this piece for over a month and gathered extensive data on women, both childless and with children. It reminded me of how often we read statistics, census data and research and react to the numbers without knowing the story behind them.
To brands, the Millennial Mom is a highly coveted sub-species within the ever-desirable Millennial market. For those newbies, she is anyone born between 1978 and 1994 with a child. She's such an exciting prospect for brands as she represents 90% of all current moms of children. Her spending power is estimated to be $1 trillion over the course of her child's life (0-17), according to a recent Goldman Sachs study. Who wouldn't want to try and get a piece of her spending?
Shopping for family vacations takes on a new level of effort when you're in the market for travel arrangements and sleeping accommodations for six. Can the rental car fit four car seats along with all our luggage? Did I remember to pack must-have blankies and binkies? Are we ready for inevitable delays and temper tantrums? I'm exhausted just thinking about it.
Over the last 40 years, it was not uncommon to see moms (and increasingly dads) huddled around kitchen tables, scissors in hand, clipping out all those little squares of savings known as coupons. From penny savers to local newspapers, budget-minded families made coupons a part of every shopping trip. It seems that Millennials learned a lot from their parents as they are now keeping couponing alive, but in a much more tech-savvy way.
In this space where we focus on millennial moms, it's a good time to shine the spotlight on millennial dads on this Father's Day weekend. After all, it's good to remember that moms wouldn't get the title without dads (or whatever term fits in today's family dynamic). Marketers could find valuable opportunities with millennial dads, a young generation of men who are rewriting the script for what fathers look like and how families are shaped. Today's dads are influential, involved and interested in new ways to approach parenting. Sound familiar?
Mom is a hard word in business. I know firsthand that women can be both productive professionals and happy parents. It's not that difficult. Still, it requires a little rethinking of the old-fashioned, male-dominated leadership hierarchy in most businesses, especially in marketing and advertising.