By 2006 – U.S. Teens Can Buy and Sell Russia.

By 2006, 12- to 19-year-olds in the United States are projected to have a buying power that will top the $182 billion gross domestic product of Russia. The U.S. Teens Market report estimates that the buying power of teens will reach $190 billion, increasing a staggering 27.7% between 2001 and 2006 due to higher earnings from jobs held by teens, as well as a jump in family expenditures on teens.

“Teens are increasingly in control of purchasing decisions, both for themselves and within families,” said Don Montuori, Acquisitions Editor of Packaged Facts. “Since 1999 we have seen jumps in the economic influence of teens’ preferences in almost every product area, including clothing, personal care items, technology and entertainment.”

As the buying power of teens increases, the percentage of teens that come from multicultural backgrounds is also projected to grow. According to The U.S. Teens Market, by 2006 non-Hispanic Whites will only account for 60% of the total teens population and the Hispanic population will constitute the largest minority group. Not surprisingly, an increasingly diverse and wealthy population of teens has caught the attention of marketers who are quickly moving to position their products as appealing to a multicultural audience.

The U.S. Teens Market delivers analysis of the evolving structure of family environments, as well as an overview of the changing racial and ethnic composition of the teens population. Also included is analysis of the consumer behavior of the teenage population and data regarding the shopping behavior and buying style of both teens and their families.

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