Thursday, April 17, 2014

Millennial Moms – An Update

I am always studying the different consumer demographics that drive U.S. retail sales.  Sales are now projected to top $4.732 trillion (source: eMarketer) this year.  One sub-group that especially piques my interest is Millennial Moms.  They have evolved into a lucrative consumer target for smart marketers.

Read On:
Back in March of 2013 I first addressed the defining characteristics of Millennial Moms who represent 22 percent of the estimated 80 million Millennials in the U.S.  In a nutshell, they tend to have higher income and thanks to their kids, they are extremely strapped for time. Consequently they are looking for lifestyle solutions that make their lives saner.  A key touch point to connect with Millennial Moms is via their smart devices (smartphones and tablets) by the use of informative content.  No more one and out aggressive couponing deals.  Equally important as value/price, Millennial Moms like to connect with family and friends, save time and be entertained.  

What smart mobile marketers are getting it right?  Starbucks and Target!  Starbucks mobile payment app, in addition to integrating its rewards program, includes an entertainment component – free music downloads.  Target utilizes their Cartwheel mobile coupon app to include deals, but also a persuasive Facebook component that helps moms find and share deals with family and friends.    
BSM Media recently reported that moms overall spent $2.5 trillion in 2013.  Data from comSource indicates that 65 percent of consumers in the U.S. own a smartphone; the percentage spikes up to 83 percent for moms between the ages of 22 and 44 years-old.

Are you a smart mobile marketer connecting with Millennial Moms?

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