Millennial parents are changing the way they raise their children compared with previous generations. These changes, whether they are career-driven, health-conscious or equality-focused, are affecting how they spend their money and make purchasing decisions, as well as affecting the opinions and environment in which future generations grow up.
As the "traditional" household changes and gender roles are moving away from stereotypical expectations, millennial parents are transforming the dynamic of their homes.
Decisions are no longer made by the head of the household; instead, millennial parents value teamwork and democratic decision-making. Parents and children have equal influence on their daily habits and longer-term lifestyle.
Millennial parents want it all, and highly value time spent with their family, alongside their personal happiness and career development.
Millennials have faced tough times, from getting jobs to increasing living costs, and remain thrifty. Using apps and online services to access resale sites, rent their homes and share everything from utensils to appliances, millennial parents try to save and make money where they can.
Although millennial parents continue to save money where they can, they are willing to spend on quality items and enjoy treating themselves, whether this includes a delicious meal or a holiday.
Millennial parents are constantly looking for guidance and advice from various sources, whether this is friends, family, bloggers or brands. They are open to different parenting styles and want the best for their children, building relationships with whoever can help them through a variety of online and in-person platforms.
Safety scares, welfare concerns and eco-conscious opinions continue to grow. With more information available about products than ever before, millennial parents look for transparency on how products are created and what they contain.
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