As a consumer group, Millennials control an estimated $172 billion a year and influence $3,000 in family spending annually. Most Millennials enjoyed a prosperous childhood and are the most diverse population of women in the history of the U.S. (both socioeconomically and ethnically). Minorities make up 34% of this generation, up from 24% in the Baby Boomer category. For the baby market, the Millennials bring good news since it is predicted that these moms and moms-to-be will have more children than previous generations.
Millennials and Their Parents

Like generations before them, Millennial moms’ consumer behaviors are greatly influenced by their own mothers and the parenting style they experienced growing up. However, this parenting style was a distinct departure from previous generations.

To fully understand this concept, take a step back in time to their childhood. The Millennial mother today was raised by the Boomer mom of yesterday.  Boomers, as the first generation claiming a near majority of working mothers, passed along the benefits of cracking the glass ceiling to their children in the form of Baby Gap clothing, Coach handbags and manicure appointments before grade school. They were pampered and adored in part to relieve the guilt many working mothers felt leaving their babies at home. Birthday parties for this generation escalated to customized invitations on vellum and personalized M&Ms to bounce houses and professional entertainment. They were the apples of their parents’ eyes.

As a child, a Millennial was showered with trophies and awards for participating rather than winning. It was a time when parenting experts preached building confidence over anything else. As an adult, the Millennial mom still loves to be the center of attention. She seeks the feeling of receiving a trophy for participation; however, as a mom that trophy comes in the form of special discounts, coupons, and free products. She wants to be recognized by friends on Facebook, by brands in their marketing and by retailers at the register or online. Remember her childhood birthday parties? She certainly does, and she still loves to celebrate these occasions to the extent that if the special occasion doesn’t exist, she creates it. Millennial moms have launched whole new industries around Babymoons and gender reveal parties. These events not only put her at the center of attention but also give her the excuse for a celebration.

Millennials Give Back

As high school students, Millennial Moms were required to do service hours. Giving back was an acceptable part of life, and they developed a love for helping others. Technology allowed them to see the impact of their actions globally and they liked it. As consumers now, Millennial Moms look for ways to continue these acts of kindness by partnering with brands that share their values. For some, it may be providing shoes via a Tom’s purchase while using a credit card that gives back to their charity of choice.  Others will like or follow brands that align with their philosophies or views on a variety of issues.

Millennials Expect Choices

One final impact of their upbringing is their desire to discover new flavors, styles and designs. Two factors played a role in honing this characteristic; the birth of the new big box retailer and the disposable income of their parents. While it may be difficult to remember a time when Target and Wal-Mart didn’t exist, simply close your eyes and think back to the late 1980s when the Millennials were able to spend their allowance.

Target was coming on to the retail scene and helped Americans rediscover the fun of retail that had been lost with the death of “5 and 10” stores. Imagine being a 10-year-old child with your weekly allowance (which most likely was higher than any other generation’s), walking into a well-lit and well-stocked Target store with its shiny floor. Or the excitement of finding out how far her dollars would go at a Wal-Mart store. Compounded with the variety of products her parent’s two incomes provided for her, she became open to discovering new items, trying new flavors and exploring beyond her comfort zone.  As she shops for her own family today, she seeks the same excitement of discovery and choice.

It’s Back to School season for moms, and perhaps as a marketer you have overlooked the opportunity to tap into mom’s wallet because you don’t sell school supplies or computers. Don’t make this mistake. The start of the school year means much more to mothers than packing lunches and backpacks. It’s recognized as New Year’s Day on a mom’s calendar.

It’s the time of year when she sets her calendar of activities for the next 10 months and begins anew in areas of fitness, meal planning and organization. It’s even the time of the year that she considers employment options. In order to help you avoid missing this buying season, I’ve put together a short list of product categories and industries that should be talking to moms as she prepares for the back-to-school season.

Weight loss and fitness: For moms of preschoolers, it’s an idea that’s been on the “to-do” list for four to five years: Lose the baby weight and get in shape. She now has new time in her schedule for that gym membership or diet plan. As her child gains some independence, she is likely to turn toward regaining some of her own identity. Now is the perfect time to encourage her to set a fitness goal for the Fall.

Meal planning solutions: The first school bell rings, and suddenly the calendar is clogged with after-school practices and carpooling. Sixty-seven percent of moms do not know what they are cooking for dinner at 4 p.m. Now is the perfect time to remind mom that your brand offers quick, tasty and healthy meal options for her on-the-go family.

Activities for the little ones: Marketers often forget that most moms of school-age children have a preschooler or baby at home. As she’s thinking of her older child’s success in school, she’s also focused on preparing younger siblings for their future school days. This means there’s an opportunity for app makers, preschool activity centers and even on-the-go snack foods to market to moms during back-to-school season.

Organizational products: As with the Jan. 1 New Years’s Day, moms will use this time to get organized for the year. They organize their home in preparation for the holidays. They organize bedrooms while changing out seasonal clothing. Now is a great time for organizational brands to offer Moms a hand with all her tossing and packing needs.

Holiday: Our research shows that 75% of moms begin picking up holiday gifts in September. Whether it’s toys that they fear will sell out later or summer sale items for teacher gifts, they are open to holiday shopping during back-to-school season.

Allergies, Cold and Fever Brands: Let’s face it, you put 30 new students together in a room and suddenly there is an outbreak of allergies, colds and flu. Like clockwork, two weeks after school begins, moms will be running to the drugstore for Claritin or Children’s Advil. Help mom prepare for that, “Mom I don’t feel well” moment by reminding her to stock up while boosting your bottom line.