Teen Spending Could Boost Traditional Retailers During Holidays
Teens Shopping in Stores and Malls After Online Research
By
(BI) Nate Leaf
Story Created:
Nov 16, 2007 at 10:02 AM MST
Story Updated:
Nov 16, 2007 at 11:55 AM MST
LOS ANGELES -- A new study shows 95 percent of teens chose shopping at stores and malls, over catalog and online. However, 65 percent of teens say they use the Internet to find out about new, cool products, friends come in a close second at 62 percent, and 54 percent of teens find about new products from commercials on TV.
OTX, a global consumer research and consulting firm, conducted the Teen Topix, which taps into the complex lives of the 13-17 year old set and is done in conjunction with eCRUSH, a leading PG-13 social networking site.
750 teens across the country were surveyed about their gift buying behavior and preferences for the coming holiday season.
When asked about specific types of stores they will shop at this holiday season, Electronics (46 percent), Bath/body (45 percent), and music stores (41 percent) led the way. Much lower on the list were store websites (13 percent), online stores (12 percent), auction sites (8 percent), and home shopping channels (3 percent).
The study also found that holiday shopping remains a social experience as 84 percent of teens say they will shop with others, while 16 percent will shop alone, and 74 percent prefer to shop with their friends, versus 26 percent who say they would rather shop with their parents.
"As marketers and retailers begin their holiday push, it's critical for them to understand not just where teens shop, but how they find out about new products," said Amy Gibby, President of eCRUSH. "This latest release of Teen Topix data once again confirms that today's teens are social beings who turn to the Internet to find out the latest information."
Teens will spend a combination of their money and "someone else's money'" this holiday season. However 93 percent of teens plan to spend "their own money" on at least one person.
28 percent of teens plan to spend "$100 or more" of their own money on their boyfriend/girlfriend, parents (20 percent), and even grandparents (18 percent) fall into the "$100 or more" club for these teens.
Teens were also asked what they wanted for the holidays.
When asked to select from a list of holiday gifts they wanted, money topped the list (39 percent), followed by computers (30 percent), clothes (25 percent), and cars (24 percent). However, when asked about the "one" gift they wanted this holiday season, a computer (15 percent) topped money (12 percent) and a car (11 percent).
"The shopping behavior and spending patterns of teens, especially during the holiday season, is of great interest to marketers and retailers," said Bruce Friend, President for Media and Entertainment Insights for OTX. "As this study indicates, teens, like the rest of us, not only think in terms of products they want, but are well aware of and discriminating about the multitude of brands messaging directly to them."
When specifically asked about brands, Apple was the most cited brand in the music technology category, Dell was ranked #1 for computers/laptops, the Motorola RAZR phone led the mobile phone category, and Microsoft's X-Box 360 was the leading video game console, while Halo 3 was the leading video game.
Abercrombie and Fitch was the clothing brand most teens say they want and when it comes to cars, Ford and Cheverolet brands were most cited.
