It’s not just your imagination: babies and toddlers are indeed everywhere these days. New data from Statistics Canada says the demographic group of those four and under is growing at the fastest pace since the 1950s—we’re effectively witnessing a new baby boom.
According to the Financial Post, the so-called “Echo” generation has grown 11 per cent from 2006-2011, and the financial industry is already taking note of it:
Craig Alexander, chief economist with Toronto-Dominion Bank, says the trend has the potential to change the financial industry, noting how mutual funds once defined Boomers.
“As the Baby Boomer goes through its life cycle, there will be increasing attention paid to what the echo generation needs,” said Mr. Alexander. The Baby Boomers throughout their entire life cycle had a profound impact. They changed product markets. Why were minivans created, we had the technology long before they appeared but they appeared because they had kids and there was demand.”
Wednesday, May 30, 2012