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.
Welcome, summer. For moms, this can be the worst of times. But this year, when the days have blurred together and the 9 a.m. toast to the first day of a new school year remains far in the future, some distraction will arrive, thanks to Mila Kunis.
There is something about Memorial Day that evokes all sensory emotions - the taste of barbecue right off the grill, the feel of new clothes from great sales, and the emotions of commemorating those who served. It is the complete build-up to the excitement of summer.
A 2015 market research industry paper reports a 52% increase in online communities, a tool that smart marketers will leverage when engaging with moms. Traditional research tools that my team uses every day, such as focus groups and surveys, have value and will continue to play a role in keeping a finger on the pulse of opinions and trends. However, the increase in online communities resonates with the hottest consumer segment today - millennial moms.
Marketers tend to focus much attention on various cohorts - Baby Boomers, Gen X, and Millennials being the primary groups on everyone's radar today. Yet, another important element of deeply understanding your target consumer is an understanding of their life-stage.
A year ago, inMarket reported that 38% of Millennial moms -- about 3.4 million of the approximately 9 million Millennial moms -- are taking advantage of location-based marketing while they are shopping. These Millennial moms are always on the go, with their smartphones in one hand and balancing a baby on a hip. I recently spoke with Andrea McFarling, director of marketing at Adlucent, a digital advertising and intelligence agency which focuses on paid search, including mobile and location-based marketing, for retailers.