Targeting Teen Consumers 2007

Resource Type:
Sales Collateral

Format(s):
N/A

Product Description:

The teen market still thrives with diverse interests and immense buying power. Despite less enthusiastic spending in 2004 and 2005, teens rebounded and spent a record $179 billion in 2006. Much of the increase [in 2006] was driven by teen girls, whose weekly spending outpaced guys throughout the year. Girls also received more income, in the forms of gifts and money from parents, than boys. Though teens seem to relish spending money, they have become careful surveyors of their product radar screens. Being “frugal” does not carry the same social stigma for teens that it might have in the past. Now teens believe that being smart is cool. This belief extends to being savvy consumers. When teens are spending more money, they shop for values and purchase wisely. They still want what’s new – camera phones, iPods and expensive jeans. But they are smart about what they buy, and will drive hard bargains to find real value for their money. So, teens still command the attention and respect of marketers. And advertisers will continue developing campaigns focused on teens. After all, teens (12-17) who say they will spend more money in the next 12 months greatly outpace those who say they will spend less money.