Monday, July 25, 2005

What Would You Do With $485 Billion

From New Age Media Young adult consumers will drive mobile marketing strategies for $485B spending of 15 to 24 yr olds

If you were an advertiser in charge of a brand new medium and it was required that you get permission before you advertise, what would you do?

Youth” consumers-those ages 15-24 - are the wave of the future for mobile marketing strategies using text messaging and the Internet on cell phones, according to The U.S. Youth Market

Technology, including cell phones, hand-held computer devices, and MP3 players, continues to threaten the traditional hold of the apparel industry on the spending priorities in the youth market.

Based on data supplied by Simmons Market Research Bureau, the report found that younger consumers are seen as the largest growth segment for the wireless industry, and older teens are driving an exponential increase in text messaging volumes. Packaged Facts estimates that the youth market has a spending power of $485 billion.

Companies that target the 15-24-year-old crowd need to realize that traditional marketing and advertising venues may not be effective for young adults,” said Don Montuori, acquisitions editor of Packaged Facts.

“Along those same lines, marketers should note that women in this age group are more likely than men to use a computer, and more likely to own a cell phone and use it for text messaging.”

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