More than 80 percent of new parents are millennials. And, as they step into their new role, millennial parents are also redefining the role of child-centered businesses. From lifestyle to spending habits, millennial parents – a subgroup sometimes called “parennials” – are a unique, new breed of consumer. As parennials continue to flood the marketplace, adapting to appeal to these consumers is crucial. Still, many brands have struggled to familiarize themselves with the idiosyncratic cohort that largely values experiences over products.
At Pigtails & Crewcuts, however, we resonate with the growing population of millennial moms and dads. With an engaging concept that inherently caters to experience-driven parents, our kids’ salon franchise brand puts our franchisees in prime position to capitalize on climbing consumer demand.
Inside the Millennial Marketplace
Millennials have gained a reputation for their tendency to prioritize experiences over products. Nearly three in four millennials say they would rather open their wallets based on experiences rather than material items, giving rise to the “experience economy.” And because millennials also have more buying power than any other demographic, brands across industries have been eager to capitalize on the shift.
Millennials not only lead the entire marketplace in buying power, they’re also responsible for the majority of the $1 trillion that U.S. families spend annually on their kids. That amount is only expected to grow, alongside rising rates of dual-income households and more spending money among families. Unprecedented levels of parennial spending go beyond just the dollars and cents, however. Millennial parents also spend more time with their children than any previous generation, so it makes sense they would seek out experiences they can enjoy as a family.
Cashing in on the Experience Economy with Pigtails & Crewcuts
When it comes to creating unparalleled experiences for parents and their children, Pigtails & Crewcuts is a cut above the rest. That’s because our mission has always been rooted in providing a memorable, stress-free haircut experience for the entire family.
Kids come first at Pigtails & Crewcuts, a welcome change for countless parents who have had to navigate negative experiences at salons or barber shops that don’t specialize in children’s haircuts. Sitting still is rarely a strong suit for children, and a simple haircut can easily turn into a stressful, trying experience for parents struggling to keep their child calm. Conversely, at Pigtails & Crewcuts, parents and children are welcomed with open arms by kid-friendly stylists and staff who are trained help make the experience easy and enjoyable for everyone. Each of our salons is brightly-colored and inviting, and comes fully-stocked with movies, games and toys that ensure a fun and happy experience for guests. Children are encouraged to choose their own themed chair, and parents are provided their own seat to engage with the stylist and be involved in the haircutting process.
During their visit, kids love looking at our whimsical artwork and playing with an endless array of toys and games. Afterwards, they also get to pick out their post-haircut prize from the treasure chest. As part of the experience-driven nature of our business, Pigtails & Crewcuts franchises even offer a first haircut package for parents looking to mark the important milestone. The package includes a souvenir card personalized with the child’s name and date of the haircut, along with a lock of hair and take-home photo, so parents can look back on the memory later on.
Parents not only love the innovation of our kid-focused concept, they appreciate the stress-free and hassle-free nature of our specialized and family-friendly brand. By prioritizing the importance of experience as much as new parents, Pigtails & Crewcuts franchisees are able to capitalize on strong consumer demand. And, by running a kid-friendly salon that creates meaningful experiences and memories for families, it’s also a business they can feel proud of.