More spending power than ever
When it comes to marketing, the big challenge is always what strategy works best for each demographic. Brands can’t just look to tap into, say, “30-40 year olds” and hope for the best.
Nope, within that demographic are sub-categories like males and females, singles, parents and even single parents just to name a few. Parents are savvier now more than ever before, particularly web-connected, millennial moms ages 18-34. Today’s mother (and millennial women in general) is more tuned in to the internet and mobile devices than Gen X and previous generations.
According to Digiday, brands are focused on what moms say and do online, and as a result that’s where the majority of marketing is aimed.
It turns out the top five favorite websites among millennial moms are Facebook, Google, Yahoo, Amazon and Ebay.
Just on Facebook alone (#1 website ranking) the sites that get the most hits are Tide, Bounty, Pampers, Walmart and Kraft.
Just how vast?
Certainly the millennial market is big. Industry experts point out that there is somewhere in the neighborhood of 123 million women in the 18 and over category and out of that, millennial moms account for about 22-25 million. Also consider that millennials in general are perhaps the most culturally diverse generation ever.
Latina women are responsible for 1 in 4 births nationwide and 1 in 2 births in California and Texas alone.
POPSUGAR’s latest study of more than 800 women shows that young millennial mothers have created their own demographic. Complete with their own specific needs and platform preferences. Nothing especially new here.
You can apply this type of categorizing to any specific age group and see what you come up with. But in terms of millennial moms, brands that tap into what young mothers are thinking (and better yet, what they are thinking about purchasing) means they have access to some $200 billion in potential purchasing power.