Children don’t spend much money on themselves, but parents will fork over cash in droves to buy their children the latest toy, technology, or educational tool. The “children” market is hot right now and businesses are taking advantage of the trend. We at GbBIS continue our series on businesses that cater to specific demographics by looking at the businesses that target children (as well as their parents).
Despite the recent trouble in the economy, businesses that cater to children are still a thriving industry. From tutoring services, to kid’s fitness programs, child-related businesses are seeing exponential growth—and the promise of future success. While toy sales and dining may be down, educational and sport services have been experiencing growth.
This is mostly because school budgets are continuing to shrink and afterschool programs are being cut. A large immigrant population has also contributed to an increase in tutoring services, as more and more children need help learning English as a second language. Immigrant parents as well as wealthy, upscale families are spending on educational services to help their children compete for college spots and scholarships.
Childhood obesity is also a hot issue right now. Businesses that promote fitness in young children—such as The Little Gym, My Gym, and i9 Sports—are seeing an ever-increasing flow of customers. And since the number of children under 18 is expected to grow by 7 million over the next decade, their industries can expect profits to continue into the future.
Businesses that target specific demographics—like children, wealthy parents, immigrant families—need to know as much information about their customers as possible. With the most accurate demographic data from GbBIS, you can gain valuable insights into your customers. We can tell you where they live, how many of them are in a certain area…we can even give you future projections.
Contact GbBIS today and discover how our demographic data can help you target the right market for your business
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Image 1 via parentpalace.com, Image 2 via southorangedentalcenter.com, Image 3 via blog.nj.com, Image 4 via gbbis.com