The Insights Family provide ethical GDPR and COPPA compliant real-time global data on kids, parents and families which enables organisations to identify opportunities, mitigate risks and make smarter decisions.
They have released a report called ‘Making it Matter – Why Every Organisation Needs to be Family First’. The report states that according to UNICEF, there are 2.3 billion kids aged 3-18 in the world – this generation cannot be ignored.
The modern family is learning that the old ways of doing things may no longer apply – parents are understanding and listening to the needs of their kids-– the family unit is now more democratic than ever. Some of the key insights of the report are that:
- Children influence most household purchases, including new cars. It might be expected that kids would have influence over purchases, such as TV subscriptions (63%), which contain their favourite shows. However, what has emerged is kid influence growing over categories that might not directly concern
them, such as the purchase of new cars (41%, which represents a +10% growth yearon-year).
- Kids are demanding that organisations embody their values. This generation are empowered to support brands that they feel align with their values. On average, the number of kids aged 6-9 who report their purchase behaviour influenced by this has increased by +11% globally.
- Trust in TV advertising falls with young parents. Gen Z parents (aged 18-25) are 41% less likely to trust adverts they see on TV and more likely to trust the recommendations of influencers (+72%) compared to Baby Boomers (age 56+).