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Annual spending potential of Indian kids a staggering Rs 22,594 crore, Turner study

Annual spending potential of Indian kids a staggering Rs 22,594 crore, Turner study

Author | exchange4media News Service | Friday, May 13,2016 8:10 AM

Annual spending potential of Indian kids a staggering Rs 22,594 crore, Turner study

Turner International India has released its flagship research study, New Generations 2016, which puts the spotlight on lifestyle, opinion, behavioural patterns and spending habits of nearly 7,000 kids across 28 towns in India. Now in its 12th edition, the study unravels the trends in the consumption patterns and spending habits of kids. The study was conducted in the first week of last December and concluded in January 2016.

This year’s research focuses on the 'The Plurals', who by definition, are born between 1997 and 2015. The Plurals, however, differ intuitively from the millennials primarily on the basis of learned versus native behaviour. Plurals are comfortable to curate their own experiences and expect as well as demand choices. Plurals are defined by the new and different career choices, higher spending power, strong world awareness and being socially active.

Siddharth Jain, Managing Director, South Asia, Turner International India Pvt. Ltd, explains the idea behind the study, “We want to understand the psyche of our consumers, who are the kids. There’s a constant evolution in the mindset of this young generation. We don’t want to limit our study to content but expand it to cover every aspect of our customers.  This helps our partners, like the marketers, advertisers, and businesses that work with us, to help reach out to their target group. Kids today have a lot of influences on the purchases, whether it’s consumer durable goods or mobile phones, car or the house that you buy. This is why it’s very important for us to do a comprehensive study.”

He adds, ‘New Generations 2016’ study throws up data and trends that define the kids of today—The Plurals. We are certain that these insights will help create an industry benchmark and will change the way in not just how we, but also how marketers, businesses and advertisers engage with kids, as a category altogether.”

Rahul Sachdev, Research Head, Turner International India highlights the key points from their survey, “Television viewing activity ranks the highest in media consumption at 97%, followed by reading newspapers and books (49% and 44% respectively). When it comes to social media, 5% of the parents believe that their child is active on social media while 25% of children claim to be active on social media. Facebook is the most-preferred social media application, where 54% kids are active through somebody else’s account and 47% through their own account. 94% of the parents monitor their kid’s usage of social networking sites. Both boys and girls prefer video games. 55% parents encourage kids to read physical books. 64% kids are aware of government’s Swachch Bharat Abhiyaan”

Another interesting finding is that since 2012 there has been 100% increase in pocket money to Rs 555 and the gift money to Rs 1100 per year. “At an annual spending potential of Rs 22,594 crore, Indian kids have more money to spend than the GDP of countries like Bhutan, Aruba and Maldives,” Sachdev points out.

When it comes to marketing and advertising the study reports that over 65% children and parents are attracted towards character based product packaging. “67% kids have influence on the purchase of consumer durables,” adds Sachdev. 

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