Canadian Business, markets observer Bruce Philip noted that the rise of the “millennial mom” should provide ample food for thought among those who are planning to capture this market.
“Kids may dictate fashion, but 30-somethings buy homes. And the furniture and appliances to go in them. And the cars. And the groceries for growing families. Not only do they spend more, but the brand preferences they form tend to stick,” Philip wrote.
“Millennial moms and their families are happy to affect the clothes, gadgets and selfies of their generation at large, but the worst mistake you could make is to dismiss them as merely older specimens of marketing’s favourite hothouse flowers. They are at least different, and at best vanguards of the kind of consumer all millennials may eventually become.”
Citing a BMO Economics report, Philip said that those born from the early 1980s to the early 2000s are now earning more and enjoying a higher net worth than Baby Boomers ever did at the same point in their lives.
Coupled with the fact that the oldest of the millennial generation is now dealing with the responsibilities of adulthood (such as home ownership), a more refined approach towards enticing them is thus needed.
“As fun as broad brushes are, there is a time in marketing for nuance—and if your business thinks in terms of households rather than individuals, this is it,” Philip wrote. “Thinking about consumers as generational cohorts can be a useful shorthand. But for marketers, its value has much more to do with shared experience than with birth year.”
In a recent column for