It looks like the country could be headed toward a “millennial baby boom” season soon. According to a note published by Bank of America, big retailers like Target, Walmart, and Costco are looking to profit off the boom. Researchers have found that the country is experiencing higher sales in pregnancy tests which is the leading piece of evidence that more babies are on the way.
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CNBC reports that “sales of pregnancy tests have grown by an average of 13% year over year since June 2020, according to data from Nielsen and research by Bank of America. This compares with an average of up 2% year over year from 2016 to 2019.”
The U.S. Census Bureau is crediting millennials as the largest generation in the country now, surpassing baby boomers, making up roughly 72.1 million people from ages 25 to 40 years old.
According to Bank of America, along with the sales of pregnancy tests on the rise, since June 2021 live births have increased 3.3%, which is the highest it’s been since 2013. This has the possibility of reversing the effects of decline of births due to the pandemic.
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