Hey – its been a while and we are incredibly busy finalising the AQR purchasing model.
And Yes – we are close …. I know we keep saying it but it is true.
This is just a quick note on the new generation and the impact of digital marketing. What is interesting to note is that we all acknowledge that the teenagers don’t have a credit card to shop online (unless of course they “borrow” your own), but an interesting study by Don Tapscott, who draws on the $4 million research project that inspired his new book, Grown Up Digital, outlines that these kids spend all of their time researching online before buying.
The comments that we need to alter the traditional method of the 4 P’s strategy is important for all business owners. The “Net Generation” are ad resistant and being raised in the digital marketing age can see a cheezy ad from miles away.
And in case your not convinced on the power of this market here are a few stats from the article
“In the U.S., students earn almost $200 billion a year in part-time or full-time jobs, and in 2006, they purchased $190 billion worth of goods. What’s more, they influence their baby boomer parents. Net Geners age 21 and under influence 81% of their families’ apparel purchases and 52% of car choices. Even younger children have powerful sway, with those between 5 and 14 influencing 78% of total grocery purchases. And, as they age, their direct purchasing power will soar. In 2003, only 5% of cars were purchased by people born between 1980 and 1995; by 2020, this will climb to 40%. “
Lookout ….. their coming – better get ready.