Secondhand Comes First
So much for birthing babies into the lap of luxury. This morning’s New York Times points out that even high-income couples are now looking first to second-hand sources when buying for their kids. Craig’s List, hand-me-downs and other money-saving options have become the purchasing preference for many parents.
The reasons: Beyond the practical – in this recession, you never know if you’ll have a job tomorrow – there are both philosophical and perceptual. In the current economy, even couples who are OK financially don’t want to openly champion conspicuous consumption. No longer are moms and dads pointedly asking retailers for the most expensive item in the shop.
What the Times calls the “play and discover” market – a $343 million category for toys and goods marketed to parents of children under a year old – has declined by more than a third in the past 18 months. According to the article, “New purchases have become more considered, less spontaneous.”
Moms – how have your shopping habits changed? Are you going second-hand for the first time? Marketers, are you experiencing this trend – and how are you responding?
For more, see the New York Times article here.
