For them, winning with millennials is an innovative if-then statement: Plus when they do shop these children aren’t just buying toys for themselves generation Alpha is spending around $18 billion a year of their (“earned”) money on purchases for themselves, siblings, parents, friends and other family members.Īnd remember, to date the oldest member of the generation is only six years old.Ī few companies are leading the way with best in class examples of marketing to this new generation, subsequently appealing to their millennial parents. Since 2010 investors have plunged over $2 billion into startups addressing the US K-12 edtech market, and fast-food industry aside between $11 and $13 billion annually is spent by companies advertising to children in America. There are organizations leveraging that passionate, intense and borderline obsessive relationship, and using it to their advantage. Yet as engaged parents, they do pay close attention to their children. 84% of millennials tune out traditional strategies. Typically, the brands blaming millennials for causing the decline of their annual sales are those who historically don’t divert from traditional (outdated) strategies. This should sound familiar, as millennials are often categorized as having the same characteristics. Coincidentally because they’re more likely to be only children, members of Generation Alpha have a greater chance of growing up selfish and expecting instant gratification. One-child families have gained ground today 18% of women at the end of their childbearing years have an only child, up from 10% in 1976. And only four-in-ten millennials can admit they consider themselves a parent who sometimes praises their generation Alpha child too much.įor many millennials, their generation Alpha offspring will be their only gift to our world. Fully six-in-ten parents whose oldest (or only) child is a member of generation Alpha say being a parent is rewarding all of the time. They place high value on good parenting and are somewhat more likely than other generations to say being a parent is extremely important to their identity. However it appears that never before has there been such a passionate, intense and borderline obsessive relationship between two generations as the one between millennials and generation Alpha.Īs children, only about six-in-ten millennials were raised by both parents, so naturally as parents millennials place parenthood and marriage far above career and financial success. It has been reported children under 12 and teens influence parental purchases totaling between $130 to 670 billion a year. Obviously, children have influenced their parent’s spending behaviors for decades. When all the members of this generation have been born, they will number almost two billion. The eldest members of this generation started kindergarten this year but in 2050 (when they turn 40) the Generation Alpha population is predicted to reach 35 million. Research Director Dan Schawbel at Future Workplace cites that as of July 2014 there were nearly 21 million children under the age of four years old in the U.S. According to social researcher Mark McCrindle, 2.5 million members of Generation Alpha are born every week around the world. More than 22 million millennial parents live in the U.S., with about 9,000 generation Alpha babies born to them each day. This new generation hasn’t even established credit, and yet they’re impacting the spending behaviors of their millennial parents (who also happen to be entering their prime spending years). Born since the year 2010 (and until the year 2025), generation Alpha are the children of millennials. Still, though so many analysts have quantified the importance of the millennial generation, few have examined the effect of their diverse offspring, generation Alpha.
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