Tuesday, May 6, 2008

Ten Insights About Student Spending From Market Research

By Linda P. Morton

Student Spending Market Research Insight 1: Today, high school students impact the economy with a whooping $187 billion in annual spending power.

Student Spending Market Research Insight 2: Students in high school earn nearly $100 a week from their jobs.

Student Spending Market Research Insight 3: College students together spend another $100 billion per year.

Student Spending Market Research Insight 4: College students have an average of four credit cards and carry balances between $3,000 and $7,000. They pay this debt slowly, but surely.

Student Spending Market Research Insight 5: High school students mostly use the Internet for information, but college students buy online.

Student Spending Market Research Insight 6: Male students like to shop as much as females. They got used to shopping for themselves because their mothers were too busy working to do it for them.

Student Spending Market Research Insight 7: To market effectively to today's students, business owners and personnel must avoid hard sales techniques and traditional advertising. Students don't respond well to either.

Student Spending Market Research Insight 8: Word-of-mouth marketing works best because students trust one another most.

Student Spending Market Research Insight 9: Advertising that works with students show them in real-life situations, use humor, plays to their emotions, and features their music preferences.

Student Spending Market Research Insight 10: When making a large purchase like a vehicle, students want quality at a good value, good warranties, with reasonably-priced insurance coverage.

About the Author:

No comments: