Millennials make up the largest generation in the country –– all 72.1 million of us aged 25 to 40 reminiscing on 90s nostalgia –– but many 80s and early 90s babies could soon become parents of their own if experts' predictions are true.
According to a note published this week by Bank of America, pregnancy test sales are on the rise, which means a baby boom might soon be on the way. Since June 2020, pregnancy test sales have risen 13% compared to just 2% each year between 2016 and 2019.
The rise in pregnancy tests sales is good for major retailers like Walmart, Target, and Costco who would also see a rise in sales for baby food, clothes, toys, car seats, diapers, and more if the boom actually hits.
The impending boom might change current trends for first-time millennial parents, who previous studies showed were waiting later to have kids. The average age of first-time mothers in the US went up from 21 to 26 and fathers from 27 to 31–– some point to the 2008 financial crisis and student loan debt crisis for the delay.
Experts predict that we could see more babies as soon as this year, but the number of newborns born would most likely be seen next year. A monthly survey conducted by Bank of America found that over 11% of respondents said they or their partners were expecting a baby within next 12 months.
Additionally, the number of live births is up, too, further pointing to a whole new generation of change makers, trend setters and go getters on the way.
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