Who would have thought that the culture of rewarding kids for doing their chores with pocket money could vary so much from one country to another? Or that the form in which pocket money would take could also vary so significantly?
The latest data on Pocket Money Trends, in The Kid Consumer Study, by Kidz Global, highlights those differences and helps to focus the mind on what actually pocket money means in countries as diverse in their customs and attitudes as France, Japan, Russia, Sweden or China!
There are so many factors to take in to consideration and explain why, according to The Kid Consumer's latest figures, 76% of 10-14 year olds in France are given cash pocket money by their parents whereas considerably more lucky tweens receive pocket money in the UK.
The Kid Consumer's global trend data helps brands to size the prize, and on that basis, prioritise the markets in which to launch its innovation.
Whether your target consumer is a child aged 5 or 15, whether they're in China or Poland, these variations matter if you're a global brand looking to get the best return on your investment.
Here are some of the factors to consider about pocket money when looking at variations by market:
- Parental attitudes towards using pocket money, whether used as a reward for chores or given unconditionally.
- Cultural attitudes towards how resources are distributed within a family unit can vary widely.
- The proximity of places where cash money can be spent, attitudes to safety in a child walking to their local shop.
- The substitute which digital currency provides, through the instantly available benefit of a digital app or content download.