” In the U.S., eight- to 24-year-olds are expected to spend $224 billion of their projected $348 billion annual income, according to Harris Interactive, a market research and consulting firm.”
An article in Maclean’s Magazine discussed about the issue of excessive consumer consumption in the generation of buyers. In the past decade, many companies emerged in the market targeting teenagers. The Ipod Phenomenon was a like a disease spreading to everyone around the globe. These marketing strategies used by many companies to target young consumers have caused a problem to their spending behaviour.
Social networking sites are emerging to be the popular advertising medium in the 21st century. And it’s because of these sites that many young consumers are hooked onto buying things without thinking about their financial situation.
Online marketing has become a huge phenomenon, but how ethical is this trend for advertising? Many young consumers suffer from debt because they are unconsciously reeled in the world of consumption.
Slice TV hosted a show called Princess, where a financial consultant works with young consumers manage their spendings.
