Young teenage consumers between the ages of 13 and 14 not only spend $600-billion each year on products, they also frequently talk about the brands they buy, according to a new study.
Starcom MediaVest Group and CNET Networks, Inc., collaborated to survey today's youth to identify the brand sirens of today's era, determine who influences today's youth market along with identifying who they are and what they do. The study showed that two-thirds of today's youth feel there are significant differences between brands. More than half of the youth surveyed wish they could find brands to stick with as they seek loyalty in the brands they choose to buy.
However, more than 40 percent said they would switch over to a new brand if the latest brand seems better. More than half of today's youth are talking about brands, with 87 percent sharing brand information with one another while another 77 percent are posting reviews and product feedback online. According to the survey, teenagers are loyal when selecting a brand as they look for one they can trust to keep its promises over and over again.
Historically, young people have demonstrated brand skepticism. It has also been generally accepted that they are losing interest in television, they donâ€™t pursue brand loyalty, they are impossible to reach, and that getting into their inner circle is almost impossible. By putting the youth market under the microscope, we ultimately learned that brands still matter to them, and we gained invaluable insights about how to engage them in a dialogue. said Renetta McCann, CEO of Starcom MediaVest Group.
Media companies SMG and CNET Networks partnered on this youth study aimed at helping marketers better understand this consumer group. The companies talked to more than 10,000 young people through 30 ethnographies, along with a variety of online surveys and conversations.