02 Jun Moms Now Top Household Income in 40% of Homes

According to the Pew Research Center, in a dramatic shift over the last 50+ years, an astounding 40% of American homes with kids are now led by a mother who is the sole or main breadwinner. This includes households led by both married and single moms. In 1960 this number was a mere 11%.

There are several forces at work. Of course the feminist movement has encouraged women to build careers and work outside the home. In many cases it is also simply necessary. The cost of raising children, especially college, has risen dramatically, and many moms just feel the family needs the extra income. In other cases, the dad is laid off and again there is no choice. Society also has become more accepting of the Mr. Moms of the world who choose to stay home with the kids.

As businesspeople we should think about the implications of this. What opportunities to create products and services result from this trend? Certainly the women’s business fashion industry benefits. Services for children, including nannies (and the cameras that watch them), children’s classes such as Gymboree, become even more important. How about a stroller that an average size man doesn’t have to lean down to push? Some of the greatest products were designed in the face of new trends. Find your moment!