Generation Alpha are still being born, but they're already on the minds of marketers.
The big picture:as children under 9, the generation is expected to have a solid financial foundation, and many are already having an influence on household purchases.
The youngest generation's parents — many of them millennials — came of age during the Great Recession and are teaching their kids early on to think about money, according to Morning Consult’s latest analysis.millennial caretakers, attuned to their children’s sense of self-worth, want their young ones to exercise decision-making skills, Emily Moquin, Morning Consult’s food and beverage analyst, noted in a virtual event today.
One way parents are going about it is making sure their children's opinions are counted and heard in the household, said Moquin.State of play: Children’s influence on family purchases takes hold around age 5, when they become more skilled communicators and when school peers start informing their opinions, analysts write.Preferences for electronics, video games and restaurants come around 8–9, and apparel brands start creeping in around 10.
“One of our big takeaways from the overall report is that parents of Gen Alpha believe their children will be better off on every metric that we asked about, except for mental health.”
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