We use first party and third-party Cookies to help us understand Website usage and to improve the content and offerings and to provide you advertising, analytics and other purposes related to your navigation habits. If you continue scrolling, we consider you accept the policy. You can read more about our cookie policy.


The global fashion business journal

Dec 8, 20196:07am

Millennial parents: more experience and rent, but loyal to retail

When forming a family, Millennial consumers reproduce their consumption habits also when buying for their children, according to the Millennial Parents report, prepared by Euromonitor.

Jun 12, 2019 — 8:05am
MDS
Save

On the hunt for 'millennials' parents: more experience and rent, but faithful to retail

 

Millennials have become the consumer most persecuted by brands. Although they still do not have the purchasing power of their parents, this generation is set to become one of the most attractive targets for the future, but they have their own way of buying and interacting with the firms. But what happens when millennials are parents? How do millennial families behave?


According to the Millennial Parents study, prepared by the consultancy Euromonitor, this generation reproduces a large part of their consumption habits when forming a family. In this sense, parents born between the end of the eighties and the beginning of the nineties value experience more than possession, and prioritize experiences over objects.

In this sense, online second-hand sales platforms have greater penetration among families of millennial parents than among previous generations, especially regarding items for children, as accessories or clothing.

 




The report explains that these young people have seen their lifestyle conditioned by the economic circumstances in which they have grown, as well as by an increase in the cost of living and university studies.

Millennials living in India and China, who have increased their disposable income compared to previous generations, take advantage of their resources buying luxury goods such as automobiles and designer clothes, something that in these markets is indicative of the social level.

In parallel, although they are the first digitized generation, the report also indicates that millennial parents have not left aside purchases in physical stores, since they are still interested in acquiring products of specific brands in their establishments.

Advertising
Comment
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...