Today’s family units are very different to those of previous years. Only 3 in 10 Millennials now live with a spouse and a child, compared to 40% of Gen-Xers and 46% of Boomers when they were the same age, finds a report from Pew Research Center using data from the US Census Bureau’s Current Population Survey.
The report, which examines the nature of family life among 23-to-38-year-olds, finds some distinct differences between this much-discussed age-group and older generations.
Per the report’s definition of Millennial, the oldest of this age group will turn 39 this year, signifying a movement into a chapter that typically involves having started a family.
For marketers and advertisers, the difference in family structure can change buying habits. For example, the vast majority of parents state that their kids influence their buying decisions. In addition, parents are more frequent online shoppers.
In 1968, when the Silent generation was the equivalent age to Millennials now, a full 85% had a family of their own (living with a spouse, one’s own child or children, or both a spouse and child).
Some 7 in 10 (69%) Boomers lived with a family in 1987, and a slightly lower share of Gen-Xers (66%) did so in 2003.
The comparable figure for Millennials last year was 55%. Read the rest at MarketingCharts.