The millennial mom:
Women are not only the biggest spenders but also the primary decision-makers in most households. They make 75% of decisions about buying new homes, 81% of the decisions about groceries, 85% of consumer goods and they influence at least 80% of all household spend. That women is most likely a mom. The mommy market is estimated to be worth $1.6 trillion. She is not just buying for herself; she’s also buying for the baby, the toddler, the teenager, her spouse or partner and the house. She’s not just buying Cheerios and baby wipes — she’s purchasing electronics and other household items.
They describe three generations of moms: Baby boomer moms (born between 1946 and 1964) , Gen X moms( born between 1964 – 1981) and Millennial new moms. If your company is still only marketing to soccer moms, you’re missing two-thirds of the moms. The millennial moms are mothers who were born between 1981 and 1994. Approximately one in five moms (22%) is a Millennial Mom, accounting for approximately 9 million people. They are trying to juggle career, family and their homes and lead very busy lives.
The millennial mom has 3.4 social media accounts, vs. 2.6 for moms in general. They spend an average of 17.4 hours per week with their social networks, 2 hours more than they spend watching TV and nearly 4 hours more than the average mom spends on social networks. Millennial Moms are decision-influencers. They are more likely than moms overall to provide opinions and recommendations. They also cite themselves as key advisors among their circle of friends as they are more likely to be asked for opinions on purchase decisions. With an average of 24 close friends, vs the 22 of the average mom. They are asked for a product recommendation an average of 9.6 times per month vs. 6.3 times for moms overall. Millennial Moms are spreading information on a wide range of products and services. Nine in 10 or more of them are sharing information about apparel, retail stores and groceries/food and beverages.
Millennial Moms are experiencing motherhood from a much different perspective than older moms. They are twice as likely to be single – whether that is by choice or circumstance – but yet just as likely as the average mom to be the majority income contributor in a multi-resident household.
Engaging millennial moms is key:
- Not all Millennial Moms are in two-parent families with dual-incomes. Many Millennial Moms may have difficulty identifying with images of the traditional two-parent family.
- Develop products – including digital ones like apps – that help make Millennial Moms’ lives simpler. They are looking for less complexity in their lives.
- The love e-commerce, not only do they buy online, they also browse, compare and read customer reviews. The primary reason is the time and convenience of online shopping, they are juggling jobs, children and household chores, so being able to shop online really helps.
- The rise of Facebook, Twitter, Instagram and blogs have given moms a place to congregate, share opinions and build friendships. Posting pictures, especially on Instagram of their family life, parenthood their career and social life.
- 70% of moms own smartphones, so she is on her phone a lot. A recent survey suggests that American moms spend an average of 2.3 hours per day on mobile devices, compared to just 1.4 hours a day watching TV.
- Their word of mouth is very powerful, moms love to socialize and share their latest finds anywhere they gather with friends and family. Consider outreach at community events and sponsoring school activities.
- They follow, trust and value comment from influencers. They sign up, follow and get involved.
- When marketing to moms, you need to take advantage of the networks they build. Moms love to talk about what they’re buying, so if you have a good product or message, the word will spread. Virtually all new moms join some sort of play group or support group, so it’s wise to get your message across.
Millennials care about many of the same things as women in their age group who don’t have children. They’re unique individuals with stories that deserve to be told. They’re social, and they love to share. They crave adventure and experience. They just want to bring their kids along for the ride. Of the 80 million millennials in the U.S., one-quarter are now parents. 83% of new moms are millennials. Millennial women control the purse strings in most households, and with millennial parents wielding $200 billion in spending power, with a considerable amount of purchasing power, millennial moms are worth every marketer’s attention.