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Three spending trends having an impact in 2022

Young parents’ rising trust in influencers and the increasing social awareness of kids are both driving family consumption decisions.
April 29, 2022

The Insights Family has released its latest report, diving into what’s driving the spending habits of kids and families in 2022.

The power of “kidfluence” stood out, with the younger demos looking for meaningful brand interactions to match their greater awareness of societal issues. Meanwhile, young parents are increasingly turning to the internet for reviews and recommendations before they make purchases.

More than 469,040 three- to 18-year-olds and 228,800 parents were surveyed across 22 countries.

Community leads the way for kids

For businesses looking to connect with kids, authentic interactions go a long way.

The popularity of shopping from local and independent stores is on the rise with the six-to-nine demo. Since 2021, there’s been a 13% in this behavior in US, 29% in Canada, 10% in Mexico, and 18% in China.

The report highlights that the sense of feeling close to a community plays a big role in encouraging kids to go local and indie with their shopping. Six- to nine-year-olds in the US are 25% more likely than average to consider community engagement as “essential” to their buying decisions.

The changing face of trust for young parents

With information from a variety of sources at their fingertips, families are no longer limited to relying on traditional marketing to guide their purchases.

According to the report, gen Z parents (18 to 25)  are 72% more likely to turn to the internet before they commit to buying a product than baby boomers (over 56), and they’re also more likely to plan their purchases than past generations. In terms of what they look for, influencer recommendations are as important as online reviews and discussions.

The generation of empathy and awareness

Sompared to last year, the report highlights that kids are more concerned about issues such as bullying (up 64%), animal cruelty (up 79%), gender equality (up 38%), racism (up 18%) and human rights (up 42%).

Parents, meanwhile, are also looking for strong values in the brands and products they buy. The number of them who prioritize the importance of businesses being socially responsible increased by 9% overall this year, with the biggest lifts coming from countries like the Philippines (78%), Brazil (75%) and Indonesia (75%).

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