Hot Market: Yoga Moms
Cash in by meeting the demands of discerning moms.
You know you've seen them. You may even be one yourself--the highly educated, fashionable, health-conscious and, yes, affluent mom. The sort of mom who will spare no expense when it comes to her child. She buys organic products and shops at Whole Foods while squiring her baby around in a pricey Bugaboo stroller.
Whether it's the boomer moms in their 40s who've just started families, Gen Yers who are used to stylish things, or Gen X moms who have chosen when and how to bring their kids into the world and have made them the focal point, the language of Yoga Mamas is the same: They want the best for their kids, and they're willing to spend top dollar for it. In fact, this hot market helped boost sales of infant, toddler and preschool home furnishings and accessories to $8 billion in 2005--a 5.2 percent increase over the year before. That figure is expected to hit $9 billion by 2010, according to Packaged Facts.
Look for opportunities in anything organic, and be aware that moms want facts to back up natural and organic claims, says Maria Bailey, author of Marketing to Moms. Creating high-quality hard-bound photo keepsakes for moms is another niche to explore. Think customization, says Bailey, as the Yoga Mama is striving for her child to be unique.
Still, affluent moms aren't the only ones who prize distinctive products and services for their children. There is a trickle-down market for moms in other income brackets who aspire to the same things--healthy and happy youngsters with the best shoes, strollers, baby food, clothes, educational toys and accessories around. "Look at what moms are selling mom-to-mom online and see how you can modify those products [to the trickle-down market]," says Bailey. Word-of-mouth marketing is key: The Yoga Mama trusts other moms' recommendations above anything else.