Forecast: Kids and Teens to Spend $1.3B Online in 2002
Kids (5-12) and teens (13-18) have become two of the largest growth sectors online, according to research by Jupiter Commmunications, with sales from this demographic estimated to reach $1.3 billion within three years. Today, 67% of teens and 37% of kids have researched or bought products online. In 1998, 8.9 million kids and 8.4 million teens were online. By 2002, Jupiter predicts that 21.9 million kids (a 155% increase) and 16.6 million teens (a 97% increase) will be wired. Parents are increasingly concered about kid- and teen-directed marketing efforts by online marketers. In 1998, 17% of parents were concerned about advertising to kids; today 45% are concerned. Anya Sacharow, a Jupiter analyst said, "Online players that are looking to target these younger consumers risk alientating parents, creating a negative brand image, and fostering greedy customers." Since Jupiter predicts that kid and teen consumers will influence rather than make online purchases, a key challenge for marketers will be to build parental support as they target kids and teens.
Source: Jupiter Communications
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