Young Australians have become overwhelmed by choice and are rejecting status brands for goods and services they know and trust, according to new research.
Their wealthy, wise and tired of choice and consumers aged between 10 and 17 are negotiating the cluttered brand path with an astute eye.
When purchasing, 75% of the demographic ignores marketing hype and seek information and advice from parents.
Today’s 10 to 17 year olds exhibit the buying habits of mature consumers and are less inclined than previous generations to let advertising influence their brand choice.
The findings were revealed in Quantum Market Research’s YouthScan study of 600 tweens and teens in New South Wales and Victoria.
The survey also found that the group has a far greater disposable income, now $77 per week up from $37 in 1995.
Imogen Randell of Quantum Market Research said young people are suffering “choice fatigue”.
“The YouthScan study has shown that young people today are smarter about what they spend their dollars on,” Randell said.
“They are more about individuality and bringing together a look or style rather than gravitating towards one or two brands.”
