What you need to know
Travel and entertainment spending are forecast to fall by 59.2% and 15.7% respectively in 2020 due to the COVID-19 outbreak. Focusing on the parent-children demographic is important for business recovery, as families’ financial status is improving and leisure spending related to children is more resilient than parents’ own activities.
Parenting goals are evolving. More importance is attached to areas beyond academic excellence, such as children’s physical and mental health, character-shaping, hobbies and life skills. These introduce “white spaces” for leisure service innovation.
Empowering children via learning in leisure time has become a mainstream theme in family leisure. But the market is crowded with products that focus on children’s knowledge and intelligence. Parents’ interest in developing children’s life skills are new opportunities for brands to tap into.
As parents are increasingly aware of children’s emotional wellbeing, brands can also offer services helping children develop the capabilities to stay emotionally strong.
Information sourcing and shopping for children is moving towards digital channels. Given the fact that parents are eager to enrich their own knowledge about how to help children grow, brands can invest in fostering online parent communities based on children’s hobbies.
Covered in this report
Emerging trends and evolving attitudes towards parenting goals
Family leisure time allocation and future spending budget
Information channels for parenting knowledge
Innovations in family leisure products and activities
Trends in family leisure and potential business opportunities
