ARE BABIES THE NEW TREND FOR OLDER MILLENNIALS???
I don’t want to leapfrog the importance of the Millennials and the wedding market because we think it’s going to be important, but I must comment on another phenomenon that I observed over this past weekend.
A little background…My husband and I will soon be empty nest Baby Boomers and we are considering where we want to settle after the last child has left for college. We have already lived the “country/suburban” lifestyle in the NY Metro area and have a New England mountain/lake home where we will live for the majority of the year, but where to settle for winter and “mud season”?? We are thinking we would like to be close to a city, preferably New York, in an affordable area with some degree of charm. Since prices in Brooklyn and Hoboken are reaching into the clouds, we decided to take a look at Jersey City. We had heard a lot about gentrifying brownstones, high rises with hotel amenities and quasi-affordability. What we had not heard about was HOW YOUNG the area is and HOW OLD we seemed by comparison! It was great to see so many young people – we certainly don’t want to live solely among senior citizens – but we didn’t see ANYONE our age the whole afternoon. (Until we stopped to eat a mid afternoon prix fixe meal at a dockside restaurant…where we realized that we were taking advantage of the “Early Bird Special.” UGH! We are our parents!!)
But I digress… In light of the opportunity to observe clusters of Millennials firsthand, we sat for several hours just watching the crowds walk by. It was like a laboratory reinforcing all the trends we’ve been watching at AIM over the past several years. Here are a few of my observations:
1. Everyone was about 25 years old (and at most early 30’s)
2. The crowd was quite diverse in terms of ethnicity and couple/combinations
3. The coffee bars were packed
4. Over half of the young people were pushing baby carriages with very young babies
So is the baby thing a new trend? Is the Recession over and now it’s time to start a family? Jersey City sits squarely across the Hudson River from Lower Manhattan and Wall Street. We have been hearing for over a year that the financial industry is back and strong, so maybe this baby thing is not a national trend. I’d like to hear from some people in other parts of the country. What do you think?
-Robin A @ Albing International Marketing
Click here to see what Pew Research has to say about this Trend.