Youth (8-22 years of age) makes up more than 50% of the South African population. Last year, it was estimated that the youth spend was close to R90-billion per annum. According to HDI, their perceptions of brands are well developed by age eight so as future consumers they already have a large influence in comparison to other generations.
The youth markets have a tremendous amount of persuasion power over parents to purchase one brand over another. These young minds are also streets ahead of older generations when it comes to embracing new technologies and trends.
"They are more outspoken and vocal than their older peers and have the tools to broadcast their opinions across the globe. Marketers should tune in and heed the cues as credible brand insights like these are few and far between," encourages Enver Groenewald, GM of advertising revenue and strategic communications at Sunday Times.
This years survey has eleven new 'coolest' categories- including coolest petrol station, coolest hair-care product, coolest 2010 FIFA star and coolest local celebrity. The most noteworthy insight from this year's survey is the tech consumption explosion, mainly due to the evolved versatility of cellphone usage.
The report will be published in Sunday Times on 3 June or may be purchased in June from HDI; go to www.hdiyouth.co.za for more details.
