The Insights Family surveys more than 469,040 kids aged 3–18 and 228,800 different parents a year across 22 countries in 6 continents. Its latest report, Making It Matter, highlights changing family dynamics and the importance of organisations taking a “family first” approach.
Here, in its latest feature for ToyNews, the company outlines why toy firms need to take into account the views of children, not just their parents, when building a brand strategy.
As kids become more aware of global issues, it is crucial for the brands they support to embody the values they preach, placing a much greater emphasis on social responsibility.
On average, the number of kids aged 6-9 across the world who buy from brands who represent them and what they stand for has increased by +11% in the last six months.
Now, 91% of kids aged 6-12 in Europe agree that is it important for the products they buy, toys they play with and clothes they wear to come from companies that reflect their values.*
As kids become more conscious consumers, they are looking to support ethical businesses. They now recognise the power in their collective voice and they look to embody the notion of ‘voting with your wallet’. The attitudes and values of kids are passed round via word-of-mouth and also shared by key influencers on social media or YouTube. Tuning into these conversations and understanding how they can benefit business operations is key when looking to resonate with young consumers. It also means that brands which do not embody the same values as kids are likely to fall to the wayside.
Concerns over the environment are ever present; climate change ranks as the fourth highest concern amongst kids aged 6-9 globally (behind Coronavirus, Bullying and Animal Cruelty). As a result, the number of kids this age who are shopping with brands for their eco-friendly credentials has increased +9% on average globally since the start of 2021. In Europe, this is particularly high in the UK (48%) and Italy (46%), where almost half of this demographic would spend more on something that is environmentally friendly.
As kids look for more ways to improve their conscious consumption habits, there has been a rise in independent shopping also. Independent shopping amongst 6-9 year olds has grown year-on-year Europe, with 1 in 10 kids aged 6-12 saying that they mostly shop at independent retailers. This is particularly high in Spain, with 17% of this demographic favouring these shops.
Through supporting local businesses comes a growing sense of community. Kids aged 6-9 in the UK who shop at independent stores are +21% more likely than the average kid to consider it essential that their purchase engages them with a community. As a result of this, the number of parents with kids aged 6-9 in the UK who shop locally has more than doubled since the start of 2021.
Target audiences are people, not just consumers.
Brands aiming to engage with their target demographics must make concerted efforts to appeal to the humanistic element of brand interactions. For licensees, this means looking to give a platform to IPs and characters who embody these values. For licensors, this means working these values into the storylines and messages of their products. Successfully appealing to kids not only engages the family of today due to their influence but secures brand loyalty in the future. The kids of today will shape the narratives of tomorrow, as they continually engage in the global conversation.
The Insights Family’s ‘Making It Matter’ report discusses the importance of meaningful connections in further detail and also explores other trends such as the increasing influence of kid’s in the household and ways in which brands can engage the modern family. It is the first report produced by the company’s new Industry Knowledge team, dedicated to identifying the next big opportunities for brands and organisations in the kids, parents and family market. Download for free here: get.theinsightsfamily.com/familyreport2022.
* All data from the last six months of Kids Insights data (October 2021 – April 2022)
Download your free copy of The Insights Family’s Making It Matter report here: get.theinsightsfamily.com/familyreport2022