Do kids have buying power? If you’re a parent you might believe that you’re the voice of reason and frugality when pleas for the newest coolest thing are screamed from the back seat. If this week’s podcast of Manipulating The Masses will teach you anything, it’s that the kids are in control and there’s almost nothing that we can do about it.
Don’t believe us?
According to the 2015 U.S. Census, there are 50 million kids age 11 and under who wield $1.2 trillion in annual purchasing power in direct and indirect spending. To be clear, this dollar amount includes things outside of toys, video games and the newest Nikes. Still, this number at first glance feels a bit shocking.
Kids are future adult consumers and brand preferences often persist from childhood to adulthood. Marketing companies know this. In 1983 marketing agencies spent $100 million marketing to kids. Today? Upwards of $17 billion.
So who’s being manipulated? Find out in this week’s podcast.
Listen to the podcast on Spotify