Market for teens and tweens boosted by more pocket money

With current sales annual US sales for this category hitting $6.9bn, market report experts Packaged Facts believes that growth will continue apace, and will increase by 16 percent to reach $8bn by 2009. The strong forecast growth contrasts with lukewarm growth for the category in recent years, growing just 11 percent, from $6.2m in 2003. However, the report's authors point out that this translates into targeted marketing by leading personal care players, which has been growing at a faster and faster rate each year since 2003. All of this points to the fact that market growth is set to expand exponentially, but is relative to the aggressive marketing and branding campaigns implemented by the larger players, who are also most likely to be the beneficiaries of this future growth. Many experts point to a huge increase in marketing campaigns that target tweens and teens with a range of fast moving consumer goods that include personal care products such as fragrances and cosmetics. In turn, this is leading youngsters to pressurize their parents into giving them more pocket money, particularly with the tween category. The report outlines how the 'growing worldliness' of teens and tweens is being answered by the continued launch of new product offerings covering a fast evolving number of categories. Categorizing tweens as those aged 8-14 and teenagers as those aged 15-19, the report also highlights how the more developed market for teenage personal care products has helped to feed the market for tween products. One of the main reasons for this is that tweens often want to mimic the habits of their older peers and siblings in the teenage category, leading to demand for similar products. The market report looks at the youth hair care, cosmetics, skin care and ethnic health and beauty products currently being marketed in the US and where they are sold. The main retail outlets include mass channels such as supermarkets and chain drugstores, department stores, specialty stores, prestige outlets, pop-prestige stores - including The Body Shop and Sephora - together with spas and retail salons. However, the report also points out the fact that tracking these categories is difficult as the two groups often converge in many of the personal care consuming habits, combined with the fact that consumption also comprises adult or family products. In the skin care category targeted products include facial care products, hand and body lotions, acne treatments, body washes and deodorants, while in the hair care category products include targeted shampoos, conditioners and hair styling products, together with accessories. Color cosmetics include products such as facial make-up, eye make-up, lip color, nail care and fragrances, while for boys products include hair color, hair care and skin care products and shaving products. All of the above categories also have ethnic dedicated products targeted at both teens and tweens.