Kari Wells
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My Story by Kari Wells

Teen Spending: The Packaged Facts

girl power

The Business of Living starts early.

It begins while you are young, while your children are young.  We are not the only ones who know that young women have the potential to be powerful, valuable individuals.  Marketing companies know.

But our missions are definitely very different.

Packaged Facts, a publisher of marketing research, compiled an analysis of the 26 million 12 to 17-year-old teen consumer market.  They noted in their “The Teens Market in the US” report an increase in spending from “$189.7 billion in 2006 to $208.7 billion in 2011, despite an estimated 3% decline in the 12-17-year-old population in that same period.”

2012 total teen spending statistics—products bought for and by teens in the U.S.—on Static Brain show 208.7 billion in total consumer dollars. That is a lot of buying power.  And with the internet even more convenient: 26% of teens had shopped on line in the three months preceding the report.

teen-spending graph from study

 

Who uses these reports to target teens? Guess. Yes. Companies. Stock investors.

What is important for financial mentors such as me to note is that 80% of young girls consider shopping a “hobby” and “activity” not a need or a privilege.

Girl~Swag and Girl Power both have missions aimed at equipping young women to be strong, empowered, independent leaders.

My mission in speaking with young women is giving them the tools that teach them how to be financially responsible. Because when you learn what living within your means means at an early age, it will create a strong financial foundation for adulthood.

 

July 20, 2013

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