Youth Marketing Statistics

Health and life insurance providers are much more likely to market to Baby Boomers than to younger consumers who fall into Generation X and Generation Y age groups, according to research from Mintel Comperemedia.

In the 12 months ending June 2009, a study found that Gen Xers (those born in the mid 1960s to the early 1980s) received 15% fewer health insurance marketing direct mail pieces than Boomers. Gen Y (those born in the mid 1980s to late 1990s) saw even fewer offers: 25% less than their parents’ generation.

For life insurance, the younger generations are equally ignored: Gen X and Gen Y got 18% and 23% fewer mailings, respectively, than Baby Boomers in the past year, Mintel said.

Despite this lack of attention from insurers, consumer data from Mintel shows Generation X is very interested in health and life insurance. Gen Xers are less likely than average to say they own non-employer based life or health insurance, but they’re more likely to say they’ll purchase these products in the near future (17% more likely for health insurance, 23% for life insurance).

Today’s challenging economy and low consumer confidence has led to a 14% decline in fashion spending among US teens and a shift toward value in both fashion and restaurant purchases, according to a survey published this spring by Piper Jaffray.

Despite these overall decreases, the survey found that video-game spending is increasing as a percentage of teens’ overall budgets, as is the percentage of teens who plan to buy an iPhone.

The 17th biannual ‘Taking Stock with Teens” survey, which polled students both online and at school,  revealed that teens and their parents are still buying new clothes, footwear and accessories, but are more selective and increasingly price conscious. Similarly, teen restaurant spending also reflects a similar shift toward value.

Fashion, Beauty & Apparel Preferences

• West Coast Brands (e.g. Pacific Sunwear, Volcom, Quicksilver, Zumiez) took the #1 spot in clothing brand preferences among teens, followed by Hollister, Nike, Forever 21, and American Eagle.
• Specifically among brands ranked by young women, Hollister took the “most preferred” position, while West Coast Brands continued to remain a favorite among young men.
• Spending in the junior apparel category has decreased 19%, but increased 9% for footwear and 8% for accessories.
• Footwear posted the strongest year-over-year and sequential results at a 4% and 21% gain respectively - an indication that the strong footwear cycle, particularly relative to the weakness in apparel, continues for the youth demographic.
• Beauty spending is down from last year, but is stabilizing from fall 2008 as lower-price categories of fragrance and cosmetics outpace skin care, and department stores continue to cede share to discount, drug, and specialty stores.