COLUMBUS, Ohio, Jan. 10, 2012 /PRNewswire/ -- Big Red Rooster, a retail experience innovation firm that creates the touchpoints, environments, communications, products and services of tomorrow, announced its proprietary thought leadership study findings today.
The firm, which helps retailers, service-oriented businesses and consumer packaged goods (CPG) companies connect with their customers, uncovered the shopping behaviors, value systems and purchase decisions of Millennials who are transitioning into a new life stage: parenthood.
"Parenthood is one of the most significant life changes anyone could experience, so when Big Red Rooster discovered 34 percent of Millennials are already parents, we knew we had to dig deeper into their world," Executive Vice President Dan Stanek said.
Millennials will be 85 million strong in 2015, making them the largest living generation in history. As this group transitions into parenthood, tech-savvy, non-hierarchical Millennials will forever change the way brands must present themselves at point-of-sale, Stanek said.
The firm used its in-house research capabilities to reach more than 800 Millennial parents through in-home interviews, focus groups and a national survey.
Big Red Rooster's major findings included:
- Despite the modern family's diverse composition, Millennial parents still embrace traditional values like family dinners and multigenerational support systems. Three out of four Millennial parents live within a 30-mile radius of their own parents.
- Millennial parents take frugality to a new level. Ninety-eight percent said they pre-plan their grocery and shopping trips to some degree, and more than half plan to an exact budgeted amount. Eighty-seven percent said they take great strides to make their dollars stretch further.
- When it comes to shopping, connecting with others, seeking information and enjoying entertainment, the smartphone fulfills the Millennial parent's every need. While these parents are ready and eager to use mobile technology throughout the shopping process, a disconnect exists between what technology is available and what is truly relevant. While 69 percent of Millennial parents have shopping-related apps on their phones, 46 percent said they rarely use them.
- Although traditional Millennials seek customized specialty retail experiences, more than half of Millennial parents say they prefer a one-stop shop. This preference could directly affect the smaller-format store industry trend.
"It's vital for retailers to be aware of this growing demographic and its expectations in-store, online and at point of sale," Stanek said. "Millennial parents' spending power will continuously grow, and retailers must innovate to meet their evolving needs."
Pew Research defines the Millennial generation as those born between 1981 and 2000. Big Red Rooster focused on 18- to 29-year-old parents for its study.
This proprietary research study is the first in Big Red Rooster's thought leadership series, Point of View (POV). For more information, visit www.bigredrooster.com.
About Big Red Rooster
Founded in 2002 by Martin Beck and Aaron Spiess, Big Red Rooster (www.bigredrooster.com) is a retail experience innovation firm that creates the touchpoints, environments, communications, products, and services of tomorrow. With offices in Columbus, Atlanta, Boston and Phoenix, our global client roster includes world-class brands such as The Home Depot, American Express, Jack Daniel's, Wrigley, SC Johnson, Office Depot and Nike.
Contact: Vicki Eickelberger, (614) 255-0200
Editor's note: Dan Stanek is available for interview.
SOURCE Big Red Rooster