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Britain's Young Consumers.
There are over 9 million of them in Britain and they are the most powerful group of consumers. Who are they7 Teenagers! A retailer's 'dream come true'. Each year they spend £6 billion.
Sweets and chocolates are still the number one best seller, but sales of mobile phone cards are catching up quickly, and they are expected to overtake sweets and chocolates very soon.
Modern technology is rapidly replacing traditional favourite pastimes such as board games and reading with video game consoles like PlayStation 2 and Xbox, which cost over £300. Quite a lot of teenagers have also joined clubs that involve extreme sports, such as gliding and parachuting This means that parents are digging deeper into their pockets than ever before. They are handing out a massive £3.3 billion to their teenagers every year, but is this enough? Obviously not, because this is only 60% of what they are spending!
Teenagers are making ends meet by doing odd jobs, such as helping with the chores around the house, delivering newspapers, and working weekends as sales assistants in shops. Although they earn and receive the same amount of money, girls spend more than boys.
How about you? Do you get enough money? Are you a big spender or a saver? Here is what some teenagers say.