New TrendHunter Report on The Modern Parent Available for Members
November 20, 2017 | TrendHunter.com’s latest free monthly report for Toy Association members highlights the characteristics of today’s modern parent, including parenting techniques, lifestyle habits, and preferences when it comes to engaging with their kids.
“The generation is unique in that they are very digitally savvy, yet they still want to preserve traditional values,” says Anne McConnell, senior director of market research & data strategy at The Toy Association. “Understanding their unique preferences for tools, products, and services to help them raise their children will be an important competitive advantage for toy companies going forward.”
The following trends are highlighted in the report:
- Economical Parenting – Facing large student loans, millennial parents are looking for economical services and products that offer more “bang for their buck,” and offer a balance between aesthetically-appealing services and cost savings. London’s Sling Libraries rents out gently used baby equipment, which provides a way for parents to test out different baby equipment before making a financial commitment.
- Kid-Curated Events – Modern parents increasingly want their children to have an entrepreneurial mindset from a young age, resulting in a shift from play-focused family activities towards educational and empowering activities that encourage personal growth. Child-focused entrepreneurial events, such as Kid Talks, inspire young attendees to reach their goals. The event features kid speakers sharing motivational stories and tips about their success at a young age.
- Fad-Focused Parenting – Millennial parents like to integrate their personal brand into their family, such Snapchat-inspired baby albums. The online interactive albums allow parents to track their baby’s growth and important moments. Users of this service are provided with private accounts in which they can store photos and videos, share chosen moments with friends, and print the albums or receive video stories.
- Multi-Stage Home – Parents favor adaptable furniture that grows with their kids as homes get smaller and the need for customization gains prominence. One of the biggest problems with purchasing furniture for kids is how quickly they outgrow pieces like small beds, chairs, and activity tables. The Land of Nod’s “Extracurricular Play Table” doubles as a desk and a coffee table.
- Trackable Child – Worried parents look to keep an eye on their children and technology is adapting to meet their needs. Parents suggest these products can help reduce their stress and improve parenting skills. The Joey Tag is a wearable GPS bracelet that keeps track of children within a set range.
This value-added report is the latest in a series from the research company offering in-depth perspectives and trends in various areas related to the toy industry. Last month’s report centered on digital marketing. Members are encouraged to send topic suggestions for future trend reports to The Toy Association’s Anne McConnell.
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