Whatever happens on this planet older generations are not too happy about, they point fingers at millennials. Restaurants are closing? It’s because those pesky millennials prefer to order in. The diamond industry is not going too well? No wonder since Generation Y doesn’t want to splurge on expensive jewelry. The cereal industry is in decline? Well, millennials are just too lazy to have cereal for breakfast. Although it is so easy to put the blame on the younger generation, one thing is for sure – no one can say that millennials are killing the toy industry, but they are surely transforming the way it works. Shopping online , preferring brands that give a part of their profit to charity, staying loyal to one brand… Let’s see just how much millennials do things differently than Baby Boomers when it comes to choosing toys for their precious bundles of joy.
Smart(phone) shopping
Shopping for a toy in a store is never a peaceful experience. Every five seconds you can hear a screaming toddler yelling: “Mom, buy me this, Mom buy me that”. Well, millennials have found a way to overcome this problem by shopping online. Studies show that the majority of younger mothers use their phones to research products, check prices and place orders. Before buying a toy, they will go online and look for recommendations on resourceful sites. After buying a toy for their young one, most millennial Moms will leave a review or chat with customer service.
Splurging on digital toys
If a digital toy will help their children’s development millennials will buy it, no matter what the cost. According to Media Post, today’s tech-savvy moms are willing to spend big bucks for smart connected toys. In fact, 65 percent of millennials said they’d pay 60 dollars for a gadget for their little one, while 23 percent of parents claim they will spend upwards to 80 dollars or more.
They want it all, and they want it now
Who has time to wait for a delivery when you can pay extra and use the same-day shipping option? Millennial parents are obviously in a hurry since 86 percent of them don’t hesitate to pay for this convenience.
They are choosy
To millennials don’t just go ahead and buy any toy their kid likes. In fact, they are loyal to brands that reflect their social and political views, and according to research four in ten young parents will only shop brands that reflect their values. Once they’ve found the brand they love, they are likely to stick with it even if there are cheaper options out there. According to the same research, 49 percent of millennials will remain loyal to a brand despite more convenient options.
Santa Claus is coming to town
Judging by the
statistics, millennials want to surprise their kids with new toys during the
holidays and they are not afraid to spend a lot of money on them. In fact, they
are shelling out cash on gifts more than consumers aged 38 and older, and spend
about 495 dollars per child.
Embracing the change
This race car is for
Mike, while Julie gets a doll. Well, not anymore since millennials are
departing from traditional gender roles in raising their kids and are
cultivating gender neutrality more than any generation before. When buying a
gift for their kid, half of the young moms will contentiously choose
gender-neutral toys.
Most new moms are
millennials and these ladies are well- informed, engaged and not that easy to
please. They want only the best for their offspring and are not afraid to
pay the price. However, even though his generation is single-handedly saving
the toy industry, toy companies need to make necessary changes and play by new
rules if they want to stay in the game.
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