Wednesday, May 14, 2008

 

Businesses going ga-ga over new parents

First-time parents continue to be a growth opportunity for businesses as we experience a baby boom in America.

Gen X parents, ages 26 to 44, waited until later in life to have children and are now producing twins and triplets thanks to fertility treatments and the fact that multiples are more common in older women.

The oldest Gen Ys were making decisions about parenthood at an early age. Surveys conducted a few years ago revealed that Gen Ys would be even more family-focused than the Xers, which were dubbed the Family First generation by USA Today. Ys expressed an interest in co-parenting and co-working, splitting the child-rearing and paycheck-earning tasks equally among moms and dads.

The Y’s passion for parenting, combined with being the largest generation to ever walk this Earth, makes them a hot target for family-focused businesses.

Furthermore, the nation's Latino population grew 62% from births in 2007. That’s 868,000 new U.S. Latino babies! Indeed, the Pew Hispanic Center reports that the fertility rate of Latinas is one-third higher than that of non-Latinas.

Anyway you look at it, today’s baby boom spells opportunity for brands to make and maintain a family-centered connection and nurture a new generation of consumers (Generation Z). Here are just a few of the new baby businesses out there:

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