A new study from Packaged Facts entitled "The Kids Market in the US" reports that there are an estimated 36 million children in the US between the ages of three and 11 and that they have a combined purchasing power of $18 billion. Furthermore, according to the study, by 2010 this will increase to $21.4 billion in combine purchasing power.
- KC's View:
And, of course, virtually none of this purchasing power comes from money that actually belongs to them.
That doesn’t mean that we, as marketers, don’t have to pay attention to it. We do.
But it always has been our experience that most kids – most people – have a different relationship with money that they actually earn than they do with money that is just given to them to spend. And maybe this difference has to be factored into how one markets to them.