The birth rate is dropping, and so is the need for kids’ entertainment and decorations.
Have you noticed a decline in your 1st birthday party business? Since 2007, the national birth rate in the USA has been declining. The economic decline of baby boomers, and the ever-increasing cost of raising a child are factoring into the equation of the decline in the birth rate.
According to the Centers for Disease Control and Prevention report, the poor economy is responsible for birth rates falling to their lowest rates since 2007, falling into the same pattern not seen since the Great Depression. Today’s birth rates are 65 births per 1,000 women – less than rates found in 1935 when birth rates were 77 per 1,000 women.
The decrease has a ripple effect through the balloon business. A reduction of children will result in fewer 1st birthday party entertainment, Christenings, baby showers, and kids programs. Schools, daycares, and libraries will be affected as they see budgets getting smaller and the child population decreasing.
This means that over the next decade we will see shrinking kids programs. It doesn’t mean the elimination of the programs but a reduction in the activities. Producers of events look at the number of attendees and hire entertainment appropriately; a drop in kids means smaller fairs and festivals. Entertainers will have to widen their entertainment skills and cater to teenagers and adults.
Chicago Taste of Chicago is downsizing again this year and is trying to reduce costs. Even though they bring thousands of people out to the Taste, attendees are not spending as in years past. Loss of revenue is forcing venue changes. With the decrease in families, organizer are going to be focusing on the larger attendees, who will be teenagers and young adults.
Restaurants, which have been hit bya bad economy, will see a drop in kid’s meals. I’m sure McDonald’s is watching the statistics closely. Could this be one reason they are now focusing on a more adult breakfast menu and new coffee drinks more geared to adults than kids?
When will things get back to normal? Until the economic environment improves and people learn how to start saving for families, a house, and parties, people who derive a career off of kid’s events will have to adapt or go out of business. Taxes are going higher, regulations are increasing, the kid population is decreasing, and kid entertainers must change or they too will be decreasing like the USA birth rate.
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