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Thursday, November 17, 2011

The impact of those who aren’t leaving the nest… on Mom, Dad, and the economy

Observation:   It turns out that when college grads return home instead of striking off on their own, it’s not just Mom and Dad’s bottom line that feels the effect.  Stalled starts are impacting the overall economy, according to this summary from today’s New York Times (click to link).

Implications:   When it comes to college grads who are returning home, or other adult offspring that never left, or boomerangs who’ve returned to the safety net of their parents after a job loss… what kinds of marketing opportunities might surface? 

From apparel that helps provide confidence for the job interview to the furniture store that can provide smaller furnishings for a more crowded house, or even the bank that can provide a plan to stash-away savings for the day when a son or daughter ultimately moves out on their own…

There are still opportunities in a world where folks don’t move away from home as early as they used to.  The opportunities just look different.  One example:  The new "age of acquisition" consumer might not be 18-34, but instead, the baby boomer, as they increasingly fund the needs of their adult children.  An example of those expenditures is found in this story from Engage:  Boomers (click to link).

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

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