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BizReport : E-commerce : November 05, 2007
Youth to spend 10% more this holiday season
E-tailers may want to pay a bit more attention to the youth market in this upcoming holiday shopping season, and they shouldn't wait until the last minute. That is because according to a report from Youth Trends, youths will spend about 10% more this holiday season than in 2006.
Youth Trends surveyed 800 young people in October.
Youths are expected to spend an average of $634; most of their cash will be spent on clothing, electronics and gaming devices.
According to the report teens and college students (ages 16-24) will spend about $266 on gifts for family, about $210 on friends and significant others and about $158 on themselves this holiday season.
About 78% of the holiday budgets will be spent on clothing, 64% will spend the bulk of their cash on gift cards while 41% will spend their dough on electronics and communication devices. Video games, dorm furnishings and DVDs also place high on the list of hot buys this holiday season.
And don't think because these shoppers are young they will wait until the last minute to buy their gifts. About 40% say they have already purchased one gift this holiday season, which means e-tailers need to have their online ads going very quickly.
Tags: ecommerce, online shopping
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Comments
thank you.
Posted by: Alex Owusu on November 5, 2007 17:14