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Economical Parenting

Pro-Millennial parents who are still in debt opt for value-focused parenting

Implications - Having gone through post-secondary education during the recession, Millennials have accumulated a fair amount of debt. This adds conflict to their transition into parenthood. As a response, services that are more economical in their approach to baby products are well received. In stark contrast to "budget-conscious" services, these focus on giving the Millennial more bang for their buck, enabling a happy balance between aesthetic-friendly services, and those that offer savings.
Workshop Question - What are two conflicting desires of your customer, and how can you consolidate them?
Trend Themes
1. Economical Parenting - The trend of economical parenting is influencing products and services for millennials that offer savings and more bang for their buck.
2. Circular Economy - The trend of circular economy is influencing sustainable baby products and clothing, offering an opportunity for innovative recycling and refurbishing practices.
3. Direct-to-consumer - The trend of direct-to-consumer is disrupting the baby products industry by providing affordable and accessible options for parents.
Industry Implications
1. Sustainability - The sustainability industry can explore innovative ways to recycle and refurbish baby products and clothing in a circular economy.
2. E-commerce - The e-commerce industry can explore opportunities to disrupt the baby products industry by offering direct-to-consumer models for affordable and accessible options.
3. Retail - The retail industry can explore trends of economical parenting and offer products and services that focus on savings and more bang for the buck for millennials.
5.5
Score
Popularity
Activity
Freshness
Patterns
Megatrends
7 Featured, 62 Examples:
236,155 Total Clicks
Date Range:
May 17 — Mar 19
Trending:
Warm
Consumer Insight Topics:

Featured Examples

Cardboard Baby Cribs
Cardboard Baby Cribs
This Flatpack Baby Crib Saves Space and Could Help Save the Environment
Baby cribs often tend to be rather cumbersome and heavy, which is why Romania-based product designer Nicolae Baciu decided to switch things up by designing an innovative new flatpack baby crib that... MORE
Water-Saving Baby Baths
Water-Saving Baby Baths
The 'BabyDam' Bathtub Divider Instantly Creates a Baby Bath in an Instant
Many parents take to giving young babies a bath in the bathroom or kitchen sink, so the ‘BabyDam’ bathtub divider is intended to offer a way to help create the optimal tub using your... MORE
Affordable Baby Subscription Boxes
Affordable Baby Subscription Boxes
Target Created a New Monthly Subscription Box for Babies
Well-known retailer Target created a new subscription box for babies, attempting to make shopping for little ones easier and more affordable. The monthly box named ‘Cat and Jack’ is... MORE
Affordable Long-Lasting Babywear
Affordable Long-Lasting Babywear
The Hanes Ultimate Baby Line Grows with a Child Over 24 Months
Babies quickly grow out of apparel and accessories, which is why there are six standard baby clothing sizes to suit young ones up to 24 months of age—and with the Hanes Ultimate Baby line, parents... MORE
Affordable Plant-Based Baby Products
Affordable Plant-Based Baby Products
Hello Bello Shares Quality Baby Necessities Through Walmart
‘Hello Bello’ is a new brand founded by Kristen Bell and Dax Shepard that offers plant-based baby products at accessible prices. The premium products from Hello Bello are exclusively... MORE
Compact D2C Strollers
Compact D2C Strollers
Colugo is a D2C Brand Sharing Baby Transport Systems for Millennial Parents
‘Colugo’ is the name of a newly launched direct-to-consumer brand that targets Millennial parents who are looking for affordable baby transport systems that offer plenty of value and... MORE
play_circle_filledRecycled Baby Clothing
Recycled Baby Clothing
Vigga Creates a Circular Economy for Baby and Maternity Clothes
Parents always talk about how kids grow up so fast, but Vigga was one of the first companies to recognize that those comments aren’t nostalgic salvos about the passage of time — they’... MORE

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