Spending by Kids to Hit $51.8 Billion by 2008
Young children are responsible for lots of dollars being spent on food, whether it’s by haranguing their parents in the grocery store to buy them treats or spending their own money.
By 2008, children ages four to 12 are expected to be responsible for $51.8 billion of total overall spending (including food), a big jump from $40 billion in 2002, according to a soon to be released report from market research firm, Mintel. And food marketers have taken note.
Last year, the food industry spent about $13 billion marketing to children, efforts that have at times been the subject of criticism by consumer advocates and politicians as childhood obesity gained national attention.
The research found that children’s’ eating habits change sharply after then turn 12, when the influence about what to eat comes primarily from peers. On the other hand, children ages six to 11 are influenced primarily by their parent’s eating habits. The younger set tends to eat a wider variety of foods including fruits and vegetables, but as they turn 12, they eat less fruit and more potato chips and candy, spending more time in fast food restaurants and selecting foods from vending machines.
Kids and teens eat an average 4.4 times per day. Girls ages six to 17 tend to eat a wider variety of snacks than boys and have developed a focus on healthier foods that they carry into adulthood, Mintel said.
The research found that over the past few years, the beginnings of a fundamental shift may be taking place in the kinds of products the food industry develops for young people and the way it markets those products. With the increased public awareness of the nutritional crises facing kids and the possibility of government regulation of advertising, the industry is looking more closely at its marketing strategies and steering product development towards healthier food offerings.
Mintel has offices in Chicago, London and Sydney.
