Weekly Furniture World Media Note #139 from Lance Hanish: 90% Of All New American Mothers Are Millennials.

Furniture World News Desk on 5/26/2015

Nearly all new mothers, about 90%, were millennials last year compared to 50% a decade ago, according to Goldman Sachs. The average millennial's age this year is 25, while that of their average first-time mother is 26. In 1970 the average age of a first-time mother was about 21. By 2002, the average age of a first time mother was 23. In 2008 the average age was 25.1. By the way, in 1910, the average age was 20.9. As you can see, the average age is getting older.

The rise of this new generation of parents has sent marketers into a frenzy. They are busily sizing up this quarry in hopes of tapping into the enormous sums of money they will shell out on their kids. Goldman states that parents currently spend $1 trillion each year on their offspring, not including college costs, and that figure is slated to grow in coming years.

That's in part because the millennial generation, which Goldman defines as those born between 1980 and 2000, makes up a massive 29% chunk of the U.S. population. On top of that, the report estimates that raising a child from infancy through college graduation now costs parents north of half a million dollars raising a child from infancy through college graduation now costs parents north of half a million dollars.

Given all that economic clout, experts say this new breed of parents has the potential to shake up industries across the board, giving rise to smaller innovative companies and forcing established players to evolve or be left in the dust.

And, what is with the mother continuously throughout her busy day? Her smartphone is within 5 feet of her 24/7. If you want to reach her today, it will be via mobile.

It is important to understand that today’s mobile users are making shopping decisions whether away from the store or in the store. And, they are showing high levels of engagement.

Mobile in the world of integrated marketing today, is absolutely important. It is the most important aspect of your marketing strategy. That is why we say, MOBILENow!

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Lance Hanish is Co-Founding Partner in CNA | Sophis Integrated Marketing Communications. 

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