Share The mom and pop retail sector is a $7.7 trillion industry, accounting for 10% of the U.S. gross domestic product.
But that market is still struggling to grow.
Its total annual sales are projected to shrink 1.7% this year, and the industry is already at risk of losing market share in a market dominated by online retail.
While moms have always been an important part of the retail industry, they’ve been largely invisible to the majority of shoppers and analysts alike.
While the mom and mom market grew to $8.6 trillion in 2011, the industry’s share of the market shrank from 11.2% to 11.0% from 2013 to 2014.
But analysts are starting to recognize that mom and baby shopping may be on the way to becoming a new business segment.
A new mom and a baby’s first-time shopping habits are driving a new mom’s economic health and wellness.
Here’s how to start your journey into mom and babe buying.
How many moms do you know?
The share of women ages 20-44 with a new mother has increased over the past decade.
About a quarter of all mothers and new mothers are in their early 40s.
A growing number of new moms are taking advantage of online shopping platforms such as Amazon, Walmart, Target, and other retailers, where they can shop for products and supplies for their families.
There’s also a growing trend of mom and son shopping through online retailers.
In 2016, women between the ages of 30 and 40 bought an average of $5,800 on Amazon, compared to $2,400 for women in their 20s.
In a new era of consumerism, mothers are starting a new life for themselves, too.
According to the National Partnership for Women and Families, more women are working, and are living longer, than ever before.
There are now more mothers living with a partner than ever, and nearly one in five women ages 25-44 have an adult child.
And for the first time ever, more than half of all working moms report spending more than one hour a day with their kids.
“As we age, our lifestyles change and our needs change,” said Rachel Dutko, executive director of the National Association of Brand Management.
“As we look for a new career or retirement, our financial health is also an issue.”
What are moms doing to boost their business?
There’s a growing list of activities moms can engage in to help their businesses thrive.
In addition to shopping online, some moms can spend time with their families, cooking meals, or working with childcare and child care providers.
“The fact that a mom can get to know her family in a more personal way and connect with her kids through the internet and social media is really a gift to us and it creates more time for bonding and for sharing stories,” said Lauren Smith, CEO of the nonprofit Women for Kids.
As moms spend more time shopping for products online, they also may be using their savings for more purchases, which may be paying off for the mom’s overall health.
A study released by the Kaiser Family Foundation found that women ages 50-54 with a household income of $70,000 a year and a median age of 42 spend an average $1,800 per year on groceries.
That’s up from $900 in 2009, according to the study.
While mom and teen shopping may seem like a relatively new concept, they are a common phenomenon in today’s consumer culture.
According the Center for American Progress, “mom and baby spending is becoming a common and important part and source of household income for nearly half of American households.”
A growing share of millennials are opting to shop online, and they’re looking for things they can get from the internet that mom, dad, or other family members can’t.
The New York Times recently reported that millennials are spending $10 billion a year on shopping online.
While millennials may be shopping online for everything from cosmetics to food, there are a few items that they can’t get online without a big investment.
Here are the top 10 online shopping staples.1.
Home improvement items8.
Furniture and appliances9.
Furnishings, appliances, and electronicsThe number of online shoppers for each of these categories is increasing as a result of growing consumer awareness.
And while mom and dad shopping is more popular than ever with younger millennials, moms and children are increasingly turning to shopping for baby items online.
For example, in 2017, moms accounted for 31% of all online shoppers.
And in 2016, the percentage of mom shoppers increased to 44%, while baby shoppers accounted for 22% of online buyers.
“The mom shopping market is so much bigger than the mom shopping category, and it is growing as a group,” said Sarah Dutton, chief operating officer at Brand Partners.
“We see this trend as part of a