Millennial Mothers in Asia: How Marketers Can Engage with this Growing Demographic
Defining the Asian Millennial Mom
Asian millennials are leading the global consumer market. They eat out, buy more luxury products, and travel abroad more than millennials in the West. In China and India in particular, the burgeoning middle class are seeing their wages (and hence, purchasing power) increase year on year, and that trend shows no sign of slowing down. Many countries in Asia have aging populations that are set to cause economic strain on the younger generations due to slowing birth rates. However, the younger generations in emerging Asian markets are digitally savvy and comfortable with rapid change. They largely expect to be better off than their parents' generation — in stark contrast to developed markets.
According to a recent report from Goldman Sachs, there are 415 million millennials in China alone, which is more than the working population of Western Europe and the U.S. combined. They are expected to have an even bigger impact on the global consumer market in the next decade, as their average annual income is set to more than double by 2024. Asia-Pacific already leads the world in the purchase of baby care products online. 42 percent of consumers have purchased baby toys online, 39 percent have purchased baby clothes, and 31 percent have purchased diapers. With the rapid rate of mobile and internet penetration in Asia as a whole, and as more and more millennials enter into parenthood, those numbers are only set to rise.
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Source
"Millennial Mothers in Asia: How Marketers Can Engage with this Growing Demographic." R3 Worldwide, 2018.