Teens let spending power shine
With Australia getting some positive economic results this week, it seems that it’s the teen demographic that have been propping up many of Australia’s industries – namely electronics and fashion. Around half of Australia’s 15-19 year olds are engaged in casual or part time employment and, as many of them have no other financial commitments their money is getting poured right back into the economy. For supporting evidence, just look toward the results electronics store JB Hi Fi have been reporting recently.
Meanwhile Aussie blogger Erica Bartle has been writing on The Punch about how the teens are in charge of the fashion world. Social networking and blogging sites are setting the agenda for all things ‘cool’; MySpace favourites are on the radio, tweens are on the screens (think Twilight and Harry Potter), and the same 16 year olds are heading advertising campaigns for some of the world’s biggest luxury fashion brands.
It’s no wonder that the younguns have taken so well to holding up the economy – they’re the ones seen out and about in all the best clothes, in all the magazines, having the high life pushed on them through every media source available. If you need an example of the way kids, tweens and teens are being taught to spend, just watch an episode of Gossip Girl.
In Australia at least, these patterns of spending seem to be working in our favour.
Signing off,
Louise.
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