Most significantly, many couples have continued to defer having children as a result of significantly lower levels of disposable income. The resultant decline in birth rate has, obviously, had a negative effect on all sectors of the market.
For those couples who have had babies, many have been forced to make economies. For example, the baby meals market has been deleteriously affected as parents opt for either home-made meals or for the less expensive dry meal products. Similarly, in the nursery equipment market, there has been little growth as usage of second-hand equipment becomes increasingly commonplace.
In 2011, the total market for baby products was valued at £1.645bn. The fastest-growing sector in the market is that of baby wipes, which have rapidly become perceived as commodity items by parents. Key
Note estimates the total market in 2013 to be worth £1.65bn.
The supply structure has seen a shift towards own-label products — a trend which is predicted to magnify in 2014. In the distribution of baby products, the trend towards grocery multiples is also
A growing market
In 2018, the global revenue of the baby care products market is estimated to generate 11.4 billion U.S. dollars. By 2021, the market is projected to grow to 13.3 billion U.S. dollars. What does this mean for brands in the United States?
As we continue in such a digital era, the power and competitiveness of Internet shopping is pushing the industry into its next chapter. According to recent data, funding for startups focusing on products and marketplaces geared toward parents of newborns and kids is on the rise. From 2016 to March of 2018, these startups have made a splash with investors, generating over $300 million in funding.
These big changes and the greater spending power of consumers are creating many opportunities for marketing professionals to capitalize on the needs of parents and their interest of baby and parenting products.
Are you launching new baby and parenting products? Here are our top tips for marketing baby and parenting products.
1. Reach the decider:
Who will be the primary purchaser of your product? Whether it be a mother, father or a grandparent, target your marketing message around their needs and the reason why they would buy the item you’re promoting.
Put yourself in the shoes of your target customer – what’s the value of your product to them? What need do they fulfill? Once you’ve nailed down these questions, you can move ahead with a more streamlined approach to your marketing message.
2. Safety first:
Safety is the number one concern of parents. In order to properly market your product, a feeling of trust and security must be felt by your target customer. To achieve this, your marketing strategy cannot be all smiling parents and happy babies.
Demonstrate the safety record as well as the testing of the product. Incorporate information on its design and construction as a central part of your marketing strategy, be transparent. You will easier earn the trust of a parent if they can read up on any safety concerns they may have. Take this as an opportunity to soothe their worries before any arise, and you will be in good standing.
3. Make life easy:
With the stresses and strains of normal everyday life, parents want to select and use products that will make their lives and the life of their child easier. Your strategy should appeal to this desire.
Through your marketing campaign, show how the product will resolve any ‘problem’ that the parent may have, making the parenting experience hassle-free and enjoyable.
expected to continue.