They may not have earned the money themselves, but the Gen Alpha children of millennial parents do help decide how to spend it: six in 10 parents say their kids are very or somewhat influential when it comes to family purchase decisions, with 50% of parents saying they involve their children in purchasing decisions more than their own parents did when they were youngsters.
For many buying decisions, parents and children reach decisions collaboratively, with equal weight given to both groups in 64% of decisions regarding family time activities and 62% of decisions about where to go on vacation. Parents exert the most control over large purchases like cars or electronics, with only 45% of families getting input from both groups for these choices.
Learn more about marketing to millennials and their offspring in this infographic from Cassandra.
