GfK has recently analysis the peculiar approach that Millennials have in their parental role, having now an age in which most of them have become moms and dads. Research from GfK Consumer Life shows, for example, that they reject “over-scheduling” by reducing the amount of time their children spend on extracurricular activities, are more liberal when it comes to limits on a child’s technology and media exposure, and are eager to spend more time with their kids on a variety of activities, from video and board games to shopping and exercising. So, GfK experts underline that with less of a strict dividing line between parent and child preferences across categories like media, entertainment, and health, brands can rethink how their offerings are classified and marketed; they can also create more opportunities & platforms for parents and kids to interact.
Another very specific and interesting trend of Millenials habits is the strong wish to have fun. Despite their stress – financial and otherwise – Millennials have not yet outgrown the focus that has long distinguished them from other cohorts: their desire to have a good time. GfK Consumer Life research finds that personal values such as enjoying life, excitement, and having fun are still prioritized more highly among this generation than older age groups.
This characteristic is reflected on purchasing too and on the choice of products and brands.
“Millennials – Rachel Bonsignore, GfK experts of trend and forecasting explains – are more likely than average to seek novelty and fun in everyday products. Appealing to Millennials’ pleasure-seeking tendencies, and giving them enjoyable outlets in their daily lives, will inspire brand loyalty. Brands will understand that Millennial parents enjoy a closer bond with their children compared to their predecessors and their future still needs to include fun”. So, as she specifies – producers and brands should communicate to the entire family and not just the parent or the child and should give them opportunities to enjoy life.
