5 Things to Know About Millennial Parents Now

Millennials are the new face of the family—here are five things they’re doing as parents right now…

Everything you know about Millennial spending habits is about to change, because they’re increasingly taking on their new roles as moms and dads. According to Crowdtap, about 80% of 18-35-year-olds are on track to become parents over the next decade. The era of Millennial parenting has begun. In 2014, 82.7% of children born were born to a Millennial mom, and a reported 90% of new mothers in 2015 were Millennials. According to Ypulse data, currently 8% of 21-24-year-olds, 20% of 25-29-year-olds, and 49% of 30-33-year-olds are self-reported parents. This new stage in life means they could increasingly be looking to own homes instead of rent, and buy cars instead of ubering—in fact, Millennials already made up 28% of the new-car market last year. They will also be choosing healthier options when it comes to dining and grocery shopping, giving way for businesses like Whole Foods and Starbucks to thrive with the health-conscious, convenience-seeking next-gen parent.

We've continued to help brands understand how Millennial parents are behaving, what they want, and the different approaches brands are taking to appeal to them. Here are five new things to know about how the new generation of parents is shaping up:

1. They’re relying on their own parents.

Millennial parents are getting by with a little—ok, maybe a lot—of help from their own parents. A TD Ameritrade survey has found that 19-37-year-olds who have kids get $11,000 on average from their parents through financial support or unpaid labor, and more than half get assistance through childcare or housekeeping weekly. But the assistance isn’t one-sided: three-quarters of 50-70-year-olds with Millennial children say they’re glad to help,…

 
 

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The Newsfeed

Quote of the Day: “The [financial] industry has been slow to adapt to the ways in which young people want to be communicated with and to communicate with each other.”—Ian Rosen, CEO, StockTwits (YPulse)

Instagram users can now purchase products without leaving the app. The platform’s shopping tags are evolving to allow users to check out directly inside the app from about 20 retailers using saved payment and shipping information. The move doesn’t just give Facebook a direct cut of each sale, but also allows the platform to collect data that they’ll leverage in their ad targeting. Instagram’s influence over young consumers’ purchases continues to skyrocket, and according to our Shoppability trend, 72% of Gen Z & Millennials are open to buying products on social media. (Recode)

Disney and MAC Cosmetics are debuting a nostalgic makeup line for Aladdin fans. The Disney Aladdin collection features lipstick, an eyeshadow palette, and bronzer in jewel and metallic hues that Princess Jasmine might wear with her bright turquoise outfit. The partnership is part of the lead-up to the live-action Aladdin’s debut, and isn’t MAC’s first time introducing fans to whole new worlds of Disney-themed cosmetics. In the past, they’ve also released Cinderella and Disney villains-themed lines. (Teen Vogue)

Google announced their ambitious plan to become “the future of gaming:” a cloud-based streaming service called Stadia. Gamers will be able to play across device (phones, TVs, tablets, etc.) without waiting for the title to load in a YouTube-connected setting. That means viewers can instantly play titles featured in videos and stream their own gameplay to YouTube—which could challenge industry leader, Amazon-owned Twitch. The Netflix-like service is set to launch this year. (The Verge)

Instagrammable dim sum is going global. The craze stared in Hong Kong, where Social Places serves up bao made to look like tiny pigs and charcoal custard bao filled with “a thick liquid that oozes out like lava,” introducing three or four new incarnations each month to keep customers coming back. Meanwhile at Disneyland Hong Kong, Crystal Lotus customers dine on buns that look like their favorite animated characters, including Frozen's Olaf. In the U.S., San Francisco’s Chili House and New York’s RedFarm are some of the first to take on the trend. (Bloomberg)

Netflix’s next choose-your-own-adventure series lets viewers chart Bear Grylls’ journey through the wilderness. Soon, Netflix viewers will have the chance to become outdoors experts from the comfort of their couches, as they make the survival show celebrity’s choices as he traverses tricky situations. Grylls himself says that he’s “giving viewers an all-access pass to explore the world and its landscapes in my boots” and that “For the first time, my survival is in your hands.” (THR)

Quote of the Day: “One of the biggest myths about Millennials is that they do not want to engage with human beings, especially if a chatbot, app, or a website can be deployed.”—Xiomara Lorenzo, Director, Society of Grownups (YPulse)

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