At a staggering 75.4 million, millennials represent the largest living generation in the country and American workforce, with purchasing power at $200 billion per year and rising. Furthermore, one quarter of this generation have now become parents who are becoming increasingly reliant on social media when making purchasing decisions.
Beyond citing social media as a helpful component to their parenting, 75% indicate an openness to branded videos on YouTube when seeking parenting-related support, and most agree that YouTube enables them to make better purchases for their child(ren). Brands targeting this audience should not only maintain a consistent presence across social media channels, but look for opportunities to further engage, inform and educate consumers on the value offered by their products/services, particularly from the lens of better parenting.
Additional insight into millennial parents reveals an interesting change in gender roles and the family dynamic as it has evolved from earlier generations. To start, where women are often typecast as the primary childrearing parent, 21% of millennial dads are now stay-at-home parents, and nearly 9 in 10 dads turn to YouTube for parenting advice on topics such as food preparation and product assembly, a strong indicator of their increased involvement in their children’s lives.
Regarding the relationship between parents and their children, where there was once, perhaps, more of a deference to parents and a household hierarchy in the home, nearly 80% of parents now say they consider their children as not only friends, but as best friends. The weight of children’s input has also shown an increase, with 74% of millennial parents citing their kids as being involved in household decisions.
Finally, while life after kids does truly revolve around selflessness, more parents are continuing to delight in pastimes post having children; 75% say they have continued to pursue their passions, which is a departure from the reality for older, Gen X parents. This insight certainly sheds new light on previous attempts to pigeonhole parents solely as those whose lives revolve around their children and nothing else.
Keeping these ever-evolving family dynamics in mind will be important to marketers looking to reach this group; For example, by targeting messaging across all members of the household, ensuring YouTube support is available and comprehensive for dad’s and sharing meaningful storylines that showcase millennial families in scenarios that mirror reality.
Sources: Think with Google, Forbes, Forbes
