What’s Hot & Cool? #12: Toys for Parents
Moms and Dads are finding new gadgets to soothe, educate, monitor and entertain their kids.
What’s happening? At the 2017 Consumer Electronics Show in Las Vegas this year, gadgets designed for families were all the rage. Gizmos like Elmoji, the code-teaching sesame street robot and Snoo, the self-rocking baby bassinet are a just a few examples. As traditional nuclear families start to diversify in the U.S., one-parent households, divorce, cohabitation and breadwinner moms are on the riserising, according to Pew Research Center. Cue things like enhanced artificial nursing implants and nurturing baby monitors.
Why should you care? Parenting is hard and the modern family is busy. Technology offering things like convenience, comfort, extra companionship and efficiency is one way to solve that problem. What’s more, millennial American moms are lucrative customers, predicted to be more reliant on smart phones and bigger spenders than their parents on baby accessories, according to this report.
Who’s leading? Hina Zaman founded WellVine in 2014, an on-demand video platform based in London that offers parenting advice on baby sleep, nutrition, breastfeeding and more. Zaman’s business is set to break even this year at nearly $400K, with revenue flowing in from monthly subscriptions, single appointments and commercial partnerships. Next up, she told Financial Times that she plans to expand into India. “It is a big market with a lack of public healthcare support.”
What can you do? If you want to enter the baby product industry, you’ll need to target parents. Here’s how you can engage customers with your brand and build a successful startup.