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Trend Watch: Millennial Parents Shift To Cheaper Brands

[ 0 ] Oct. 8, 2013 | SBO Editor

About 40% of Americans between the ages of 18 and 34 are already parents, and the percentage is on track to double in the next decade or so, according to a study from Barkley that calls into question some of the conventional wisdom surrounding Generation Y. Millennials are every bit as pragmatic and frugal as their older counterparts after they become parents, shifting from brands such as H&M and Apple to Dollar General, Kohl’s and Lowe’s, the report says. “People are looking for problems to be solved, and we better be able to prove to the customers that brands can make life better,” said David Gutting, Barkley vice president and strategy director.

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Category: Features