Parents & Family Entertainment Spending, March 2013 [TABLE]
Millennial (18-35 in 2012) parents are twice as likely as non-Millennial parents to say they’re spending more on family entertainment than they were a year ago (36% vs. 17%), finds Mintel in new research. Young fathers in particular seem willing to open their wallets: 21% say they spend more than $300 a month on family entertainment. That’s almost double the proportion of fathers over 35 who report spending that amount (11%), and triple the proportion of young (18-34) mothers.
According to the researchers, the young fathers’ larger spending habits are a reflection of their relaxed attitude towards family activities, while mothers are more likely to adhere to budgets. As such “the likelihood that dads are the primary spenders in this sector, both in money and time, opens the door for marketers to target this group for family entertainment promotions.”
Standing in the way of higher spending on entertainment activities are budget and time considerations. 29% of parents overall say that budget restrictions hinder them from participating in their entertainment activities of choice, while about one-quarter cite their kids’ extracurricular obligations as a factor. Read the rest at MarketingCharts.