Richie Rich Kids

Image courtesy funonline.inBy Christopher Zoukis

Last year, over $2 billion was spent on marketing to children, according to MediaChannel, which is a non-profit media monitor. estimates the direct buying power of children to be around $60 billion per year. This money will be spent on food, candy, video games, clothing, sports, and electronics.

There are 24 million children in the United States between of 6 and 11, which is 8% of the total population. According to the U.S. Census, children will account for 24% of the total population by the year 2020. And all these children are internet savvy. In fact, the internet is their medium of choice. In 2007, 57% of children age 11 or younger were online. Twenty percent of them have computers in their bedrooms. More than 5 million children between the ages of 6 and 17 have their own websites. At the present juncture, the most internet-savvy children are in New York City, Miami, Washington D.C., Philadelphia, and Tampa, Florida.

Children between the ages of 8 and 14 spend $6.9 billion per year on cosmetic products for their hair and skin. According to the Food Industry Council, children between age 5 and 14 control $10 billion worth of food and beverage purchases, and directly influence an additional $20 billion spent on the same items.

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