Commentary

Getting Your Share Of The Millennial Wallet

Today’s moms have an overwhelming amount of resources to turn to and more content to digest than any other generation before them. Search “new baby” and over 2 billion hits come up. That is information overload for a mom who is already feeling overloaded before the baby is even born and despite being a digital native. Thousands and thousands of recommendations, checklists, educational tips and opinions abound. There is no shortage of advice from friends, family, peers, influencers and celebrity moms, not to mention a huge selection of stores to buy from–large to boutique stores–both online and off. 

Whose information does she trust and what guides her decision today is a going to be critical for brands because she is highly social, highly connected. Nine out of 10 of Millennial moms are sharing information on everything from clothing, retails stores, electronic devices and more according to a study by Weber Shandwick and KRC Research. And in many households she is going to be the major contributor to the household income and have a vested interest in how the money is spent. 

I spoke to Austyn Stevens, associate creative director, and Emily Dimiero, senior strategist, both expectant moms at Siegel+Gale, a strategic branding firm. Hands down, the mere presence of a baby on the horizon changes how Millennial moms are buying everything. Each decision is carefully weighed. The Millennial mom is thinking through scenarios before they happen. For example, “What if I have to get up stumbling in the dark.” Or, “What if we have to transfer the car seat from one car to another. I want it to be easy for Grandma.” And “the ease of one-handed folding a stroller and knowing a baby means the need for an extra hand.” 

Austyn said, “Content/information is important. Sites that don’t fill their sites with sponsored content and feel more like a community are more relatable. I’m using a hybrid strategy. I’m shopping at big box stores for major purchases and day-to-day things. I’m going to smaller boutique or specialty stores for unique items and I’ll go online for diapers. Online is not my first choice because most stores don’t do a great job of showing the product and I need to touch the product.”

“I look for sites that are non-judgmental, relatable and reassuring, but authoritative with a clear point of view,” said Emily. “And communications can’t be dated. I also don’t want to be over communicated with. Everything should be highly targeted.” 

And both young moms-to-be said they are looking at this as being a fresh start and “doing things my way,” which is supported by numerous studies about Millennial moms. It doesn’t mean they aren’t going to their moms for advice. They are just taking advantage of the wealth of technology and sources offers. 

So, what are the factors a Millennial mom is weighing today?

• natural ingredients, impact on the environment and sustainability

• the brand’s sense of purpose: show that the experience with the brand is designed with mom in mind

• the cool factor: cool design versus cool functions

• her upbringing and the role it plays in her purchase decisions

• expense vs safety features

• time and convenience: she knows she is already overwhelmed before baby arrives

• clarity of information: how, where, ingredients, to name a few

• other mom’s judgments

So, what do brands need to keep in mind for getting it right with the Millennial mom? “It all comes down to three things: simplicity, design and cost,” Austyn and Emily agreed. 

Consider this: raising a child will cost new parents, according to the national average, between $11,000 and $13,000 a year and that number typically increases with the age of the child. Millennial moms, with a sea of options at their fingertips, are weighing these purchases deeply. To capture a piece of this mom’s wallet, brands today must break through the clutter with content created specifically with the new mom in mind.

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