9/1/13
There are 10.8 million millennials ages 25-34 with children, according to Barkley ad agency. Two in three (63%) are married, with annual median incomes of $50,000.
Nike, Sony, and the Gap rank as the favorite brands for millennials without children. However, those with children prefer Nike, Target, and Apple. One in two millennial parents (50%) try to buy products that support causes.
Also, before they were parents, 57% of millennial buying decisions are based on quality; after parenthood, 50% buy based on quality. And the shift away from quality to price is more notable with dining, entertainment, apparel, and digital purchases.
Walmart beats Amazon.com and Target as the one place millennial parents would shop at for the rest of their lives. More affluent millennial parents select Target, and politically conservative millennial parents select Amazon.com.
One in two millennial parents are “raising my kids they way I was raised.” These parents want their children to know they don’t need possessions to make them happy (82%), to graduate from college (77%), and to excel at sports (56%). More than six in 10 (61%) believe kids need more unstructured playtime, and only 21% think their own kids are overscheduled.
Two in three (64%) say the environment has become a top concern now that they are parents, and 52% closely monitor their children’s diet.
Nearly half of millennial parents (48%) feel children do best if they are raised by stay-at-home moms.
Millennial moms and dads agree that work-life balance issues have become more important after becoming parents (74%, 76%). However, women are less likely than men to say they are the same person after having children (30% vs. 45%).
SOURCE: Barkley US, Jeff Fromm, EVP, 1740 Main St., Kansas City, MO 64108; 816-423-6195; jfromm@barkleyus.com; www.barkleyus.com.
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