According to new research from Mintel on family leisure preferences, Millennial (aged 18-35 in 2012) moms and dads have family entertainment spending habits that contrast with their older counterparts. While 42% of parents surveyed are spending less on family entertainment now than they were a year ago, more than one-third of Millennials are spending more, compared to just 17% of non-Millennial parents.
Parents And Family Entertainment Spending (March, 2013; % of Respondents)
% of Respondents
Millennial parents (18-35) spending more on family than a year ago
Non-millennial parents spending more (42% spending less)
18-34 year old fathers spending over $300/month
Men >35 spending over $300/month
Women (18-34) spending over $300/month
Parents saying budget precludes family from activities of choice
Source: Mintel, March 2013
Younger dads’ (aged 18-34) spending habits in this sector show a disparity with older fathers and all mothers. 79% of younger dads spend less than $300 per month on family entertainment. However, 21% of this segment spends more than $300 a month, versus only 11% of men over 35 and 7% of women 18-34-years-old.
Gretchen Grabowski, travel and leisure analyst at Mintel, notes that “... dads’... take a more relaxed approach to family activities... compared to moms who are typically the budget makers and enforcers... dads see their role... choosing fun activities that instantly gratify their kids... “
Nearly three in 10 parents say budget restrictions prevent their families from participating in their entertainment activities of choice, and 25% say that kids’ extracurricular obligations lessen their available time.
Work obligations are also a primary barrier for young parents. One quarter of 18-34-year-olds say their spouse or partner doesn’t have time for family activities due to time spent working, a larger share than any older age group surveyed.
91% of parents surveyed agree their family usually has a good time when they’re together, 77% of kids aged 6-11 say they like spending time with their family and 73% of 12-17-year-olds say they really like to be with their family.
Grabowski opines that “...the likelihood that dads are the primary spenders in this sector... opens the door for marketers to target this group... (and) the fact that kids enjoy family bonding is... important to their development... (suggests) marketers should... focus their promotions on family activities that are recreational... educational... and (promote) social development of young children...”
For additional information from Mintel, please visit here.