Ypulse Mashup: How Millennial Parents Will Change Families

On June 27th, we’re dedicating our Ypulse Mashup event to Reassessing Millennials. It’s time to stop looking at Millennials as one massive group and pre-prescribing characteristics and misconceptions to all 80 million members. We’re digging into who they really are and the different personalities that exist within the generation by unveiling our first-ever segmentation of the generation. We’re also examining not only how they are changing as they begin to tackle adult milestones, but how they are changing the definition of the milestones themselves.

 The oldest edge of Millennials have entered their 30s, and 4% of Millennials are already parents. That’s over 3 million Millennial parents in the U.S. and growing. Though the generation as a whole has delayed parenthood, 70% of Millennials who aren’t yet parents say that they want kids, and 26% of them want kids within the next five years. That’s a huge wave of Millennials who are going to become parents in the relatively near future, and they’re approaching parenthood with their own expectations. Just as they have begun navigating adulthood by picking and choosing the things that work for them, we’re seeing that these influential and unique consumers are already attempting to tackle parenthood in their own way, and negotiate traditional parenting structures on their own terms. Here are just a few of the ways Millennials could reassess parenthood, and shift family culture:

 

1. Bringing Baby to the Biergarten

Many Millennials are children of helicopter parents who know what it’s like to be doted on from birth. Boomers tended to structure their own families so that their Millennial children were the focus, and gained a reputation for letting their lives and decisions revolve around the kids. And though they appreciate the attention…

 
 

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The Newsfeed

“The wedding trend I have noticed is the white wedding dress being phased out and an array of colors and styles being used.”

—Female, 32, FL

Millennials are about to receive “one of the largest intergenerational wealth transfers in history,” according to UBS. This comes right as they reach peak earning age, making Millennials a powerful spending force—so how can Wall Street pull their purse strings? Besides transparent business practices, they’re expecting on-demand everything across all channels. Easily-navigable banking apps and mobile-first financial advice services are must-haves to impress them. (Business Insider)

Today’s teens are having safer sex, according to a CDC report. Not only are fewer teens having sex, but those that are, are more likely to be using contraceptive methods. Compared to 1988, 9% fewer 15-19-year-old females and 16% fewer males have had sex. The teen pregnancy rate in the U.S. also hit a historic low, with 99.4% of female teens who have had sex using contraception at least once, compared to 97.7% in 2002. (CBS)

Most young consumers use ad blockers, but they don’t always mind seeing ads online—as long as their “space” is respected. Defy Media and TMI Strategy found that 13-25-year-olds were open to seeing ads that are contextually relevant and informative, and don’t interrupt their experience. Anything that “clogs their feed” is off the table, but they’re not averse to all ad placements: 78% don’t consider product placement offensive, 62% follow at least one branded account, and 44% are subscribed to a branded newsletter. (Adweek)

The future of Facebook is going to be a bit more private. Mark Zuckerberg recently announced that the platform’s new mission is to “give people the power to build community and bring the world closer together.” Connecting with friends and family will come back to the forefront, with Groups as a “lynchpin” of this “next era” to make smaller communities and more closed-circle communication a focus, instead of the cluttered public feed. (NYMag)

Japan’s Millennials would stay at one company for life, defying the job-hopping stereotype in favor of job security. From 2001-2015, the percentage of Japan’s Millennials who supported lifelong employment and one-company careers skyrocketed from 64% and 40% to 87% and 55%, respectively. In fact, last year, less than 7% of 25-34-year-olds switched jobs at all. Overall, Japanese employees leave jobs at less than half the rate of Americans, and younger Japanese workers are “even more risk averse.” (Bloomberg)

“I love reality TV shows. It's always fun to watch average people make themselves look foolish just for a shot at fame.”

—Female, 17, CA

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