Monday, October 04, 2004
Capturing the youth market
The popular Hello Kitty brand -- commonly found on stationery, purses, pajamas and other items for children -- will soon start appearing on a new platform: a MasterCard debit card.
"Freedom! You can use the Hello Kitty Debit MasterCard to shop 'til you drop," the card's Web site enthuses.
The prospective audience? The young women who grew up with the 30-year-old icon -- as well as much younger girls. "We think our target age group will be from 10 to 14, although it could certainly go younger," said Bruce Giuliano, senior vice president of licensing for Sanrio Inc., which owns the brand.
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"Children are now open game, prey to many financial institutions in this country," said Joline Godfrey, author of "Raising Financially Fit Kids" and chief executive of Independent Means Inc., a California financial-education firm. "Financial institutions used to be pretty conservative members of the community, preaching balanced budgets, home ownership and savings. Over the course of time, they have become more partners with retailers teaching children how to spend and consume." As a result, she said, the cards become a "great educational tool . . . to say to kids, 'Spend, spend, spend, buy, buy, buy.' "
Cause it's never too late to create the newest little consumer.
posted by chris at 8:10 PM
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