BabyCenter has recently released the 2012 U.S. Cost of Raising A Child report which shares new research around family finances. Moms are still wary of the economy, and rightfully so given the circumstances. However, there is a new generation of moms who are rapidly equipping themselves to handle their financial realities, and prepare for the future.
In order to keep up with budget-savvy new moms, here are three C’s you need to know:
BabyCenter found that 66% of moms are cutting back on going out to eat and 60% on buying clothes. With more moms cooking at home and in bulk to save money, restaurants will need to work a little harder to give her a reason to visit. For example, our client Applebee’s offers special theme nights where portions of the proceeds benefit local community groups. Many other chains also offer combo meal pricing or “kids eat free” promotions. These types of promotions allow moms to take their little ones out, without feeling guilty for spending on a night out.
New moms are embracing the simple things in life with a “we’re in this together” mentality. Cutting back on budgets means moms are spending more time seeking low-cost and free family outings. How can your brand help mom discover something special, without breaking the bank? We helped Dixie do just that with their new website, Meals Made Great, which gives moms fun (and free) ideas on how to make the most out of mealtime with their families.
This one’s a no-brainer, and coupons are not going away anytime soon. Research continues to show a rise in couponing as new moms tap into coupons and loyalty programs both online and via their smartphones. Brands and retailers must not only offer promotions and deals, but they must communicate these offers in an effective and engaging way.