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BizReport : Ecommerce : November 13, 2009
Study: College kids are spending in tech
Don't forget those college kids when targeting tech products. According to new research from Alloy Media + Marketing and Harris Interactive, the record number of college freshmen are spending money on all sorts of tech products; they are also spending more and more time in an online environment.
The 13.8 million freshmen, who are set to graduate in 2013, are expected to spend over $6 billion in the tech realm this year. They are buying new gadgets, computers, phones and music players with online connectivity more than ever. The kids' buying power has increased by 6% over 2008 numbers, with discretionary spending at just under $60 billion. And, although many are dependent on Mom and Dad to make the biggest purchases, they do determine which brands, items and products will be purchased and which will be passed over - meaning marketers need to target the kids rather than the parents who will ultimately make the purchases.
Other interesting findings include:
• Desktop computer use is down 46%
• Laptop computer use is up to 75% of the age group
• Three-quarters of college freshmen are using MP3 players and iPods regularly
• Students' biggest influencers are friends and family
• Time online is outpacing time spent watching television
"Mobility and media convergence appears to be the required curriculum on the quad," said Andy Sawyer, SVP, Media Services for Alloy Media + Marketing. "Perpetual advancements in technology have clearly given students increasing control and the ease with which to socialize, communicate and be entertained on demand. [...Rapidly] advancing technology is shifting the campus dynamic."
The 2009 Alloy College Explorer study was conducted during the month of April and surveyed more than 1,500 college students.
Tags: ecommerce, online advertising, students, tech purchases, technology advertising, technology purchases
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