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The Top 10 Shopping List for Class of 2011
We spent the entire month of October talking to 404’S (that’s form 4’s to the unschooled) about their post high school shopping habits. We figured; if 404’s are going to blow about US$ 1 million within weeks after clearing high school, wouldn’t it be great if we got to find out what they’re going to spend it on? The insights varied from the expected to mind boggling! So after sifting through tones of data and hundreds of shopping lists, we’ve compiled this very simple Top 10 list of the stuff the Class of 2011 will buy… Class of 2011 - Top 10 Shopping Items View more presentations from Teenwise Media Group
Meet The Million Dollar Teen
Every year, over 400,000 youth aged between 18 - 20 complete their high school education. However, just because they are leaving high school does not mean that they should leave your marketing radar. High School Leavers' Gift Tradition Completing high school is somewhat of a rite of passage. In fact, in this country, it's a big deal. The process that is leaving high school culminates with a sense of new found freedom. Social, political, economic, religious and otherwise. As a teen grows older, the gatekeeping "barriers' that prevent him/her from making truly independent purchasing decisions are slowly brought down. At the same time, this individual's brand preferences become stronger and more heavily influenced by peers and friends. The chart below helps to illustrate this fact:
Form Four Leavers Become Legal It is that time in a person's life where they can say they are "legal." It's also that time in a person's life where they receive gifts for "clearing high school." Monetary gifts to be more specific. In fact, conservative estimates value the total sum of "clearing high school" gifts at KShs. 100 million! According to the Youth Dynamix Back To School Trax study (2009), it washighlighted that on a national average, high school leavers will receive a cash reward equivalent to KShs. 250 (US$ 2.50). Given that there are about 400,000 high school leavers in 2011, this loosely translates to about KShs. 100,000,000 (US$ 1,000,000). Most importantly, these cash rewards are usually spend within weeks of being received. This means that high school leavers blow about 1 million US Dollars in a matter of weeks! In recent years, the bulk of these funds have gone to purchasing mobile handsets. Freedom To Express Themselves Through Brands At this crucial stage in their lives, high school leavers begin experiencing a new kind of freedom; that of expressing themselves through their favourite brands. This begins to manifest itself through trying new products & brands for the 1st time. For instance; 1) Alcohol consumption gradually overtakes juices and carbonated soft drinks
2) The importance of owning their own music system completely replaces the need to use the ‘communal’ music system in the living room
3) The need for an iPod replaces the MP3 player
4) The SIM card they already have in possesion finally gets a mobile phone
5) Clubbing at night replaces going for jam sessions during the day
How Do You Win? In conclusion, there's really only one winning strategy. Brands that enable youth to express their new found freedom will beat the rest to the US$ 1,000,000 loot. Remember; youth don't buy brands, they buy what brands do for them. Form four leavers are about to experience a new found freedom - how will you help them embrace it? ngaruiya@theinsyder.com |
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