Here are some consumer insights on teens for small business advertising. The market will undergo a slight growth spurt, increasing from $189.7 billion in 2006 to $208.7 billion in 2011, according to The Teens Market in the US report from Packaged Facts. There are 26 million teens in the US today. With an aggregate income of $80 billion, teens represent an important consumer segment in their own right. Moreover, parents spend another $110 billion on teens in key consumer categories such as apparel, food, personal care items, and entertainment.
You want this money, and they know it. There are a lot of you out there. Which makes the job tricky especially with kids processing an average of 3000 discreet advertisements each day.
Ideally, you should be investing in research and trend-watching in order to find out what theyll respond to but being a small business, you may not always have the budget for this. This article will provide you with some insights on this market and hopefully, some of it are applicable to your business. Remember that these are insights, only when you know how to use will it actually serve your business.
Helpful Statistics on Teens:
Teen spending money, accumulated through paying jobs, allowances from parents, as needed money from parents, and monetary gifts, will increase an estimated 3.5% annually, raising the aggregate teen income 14.4%, from $79.7 billion in 2006 to $91.1 billion in 2011.
Packaged Facts estimates that 12-14-year-olds have an average annual income of $2,167; teens in the 15-17-year-old age group generate an average annual income of $4,023.
The amount of money families spend on teens for food, apparel, personal-care items, and entertainment is expected to grow approximately 7%, from $110 billion in 2006 to $117.6 billion in 2011.
Though non-Hispanic Whites account for 82% of those age 65 and over, they comprise only 61% of those in the 14-17-year-old age group. Multicultural kids in the 12-17-year-old age group now account for around 40% of the teen population.
- Nearly two out of three (64.9%) teens live in two-parent families.
- A substantial minority (35.1%) live with only one parent (29.1%) or with neither parent (6.0%).
- Around 40% of teens live in a household with an income of less than $50,000.
- Another 40% of teensÂ live in households with an income of $75,000 or more.
- Only 26% of all teens surveyed placed an online order in the previous three months, based on an analysis of Simmons Market Research Bureau data.
- But more than half (51.6%) of the teens surveyed said the internet has changed the way they spend their free time.
- Nearly one out of three view the internet as their primary source of entertainment.
- More than 90% use a computer either at home or at school .
Teens defend themselves against advertising:
Businesses study teens like an archaeologist would study an ancient Greece artifact. Companies hire cool-hunters young, bright, culture spies who could roam freely and undetected through the clubs and schoolyards and come back with snapshots of the latest, undiscovered trends.
But the minute a cool trend is discovered, repackaged, and sold to teens at the mall, its no longer cool. So the kids turn to something else. Making matters worse, teens started feeling this strategy and rejected being a part of the mass market so they rebelled and adopted a posture and lifestyle that resists the notion of cool itself. They opted to be ugly and dirty. Enter the grunge era. They used the remote control when ads are on tv, they looked away when they see posters, they skipped the magazine or newspaper when a print ad is there. They would not be moved.
Nirvana and Stone Temple Pilots became more cool than New Kids On The Block and Kurt Cobains suicide (actually a result of depression and drug abuse) became the epitome of the young market resistance to the corporate machine. So Sprite and Levis, developed commercials applauding kids for their hatred of marketing with slogans like Image is Nothing, Thirst is Everything . The message was clear, businesses were telling teens. We know you hate marketing, were on your side.
Teens have seen through this strategy too. Everything had gotten so confusing, so marketed, so fleeting, that nothing seems real anymore. If its authenticity they want, its authenticity you should provide them. Use real life situations, wear the clothes they wear, speak the language they use.
They Like Being The Center of Attention:
They may resent you for your attempt to muddle their fleeting sense of what is genuinely, authentically cool but they enjoy all the attention. They are exhibitionists, aware of corporate Americas obsession with their every move, their language, their thinking.
That is why there are 50 million status updates on facebook, they like letting the world know what they had for dinner, what they think of the shoes the woman sitting across them in the train is wearing, how confused she got when trying to choose what bag to buy and how hard they prayed for the Chile miners to be rescued.
They long for venues and opportunities to shine but they dont like working hard for it. That is why reality star is suddenly a new profession. It allows them to shine and its not hard to do.
Find Them On The Internet:
- 14% of online teens now say they blog, down from 28% of teen internet users in 2006. This decline is also reflected in the lower incidence of teen commenting on blogs within social networking websites; 52% of teen social network users report commenting on friends blogs, down from the 76% who did so in 2006.
- 73% of wired American teens now use social networking websites, a significant increase from previous surveys.
- Teens are not using Twitter in large numbers. While teens are bigger users of almost all other online applications, Twitter is an exception. Only 8% of internet users ages 12-17 use Twitter. This makes Twitter as common among teens as visiting a virtual world, and far less common than sending or receiving text messages as 66% of teens do or going online for news and political information, done by 62% of online teens.
- Older teens are more likely to use Twitter than their younger counterparts; 10% of online teens ages 14-17 do so, compared with 5% of those ages 12-13.
- High-school-age girls are particularly likely to use Twitter. 13% of online girls ages 14-17 use Twitter, compared with 7% of boys that age.
- Cell phone ownership is nearly ubiquitous among teens and much of the growth in teen cell-phone ownership has been driven by adoption among the youngest teens. Three-quarters (75%) of teens and 93% of adults ages 18-29 now have a cell phone.
- In the past five years, cell phone ownership has become mainstream among even the youngest teens. Fully 58% of 12-year-olds now own a cell phone, up from just 18% of such teens as recently as 2004.
- Internet use is near ubiquitous among teens and young adults. In the last decade, the young adult internet population has remained the most likely to go online.
- 93% of teens ages 12-17 go online, as do 93% of young adults ages 18-29. One quarter (74%) of all adults ages 18 and older go online.
- Over the past 10 years, teens and young adults have been consistently the two groups most likely to go online, even as the internet population has grown and even with documented larger increases in certain age cohorts (e.g. adults 65 and older).
- 62% of online teens get news about current events and politics online.
- 48% of wired teens have bought things online like books, clothing or music, up from 31% who had done so in 2000 when we first asked about this.
- 31% of online teens get health, dieting or physical fitness information from the internet. And 17% of online teens report they use the internet to gather information about health topics that are hard to discuss with others such as drug use and sexual health topics.