What you need to know
The concept of pocket money has changed significantly over the last ten years as children in a digital world wish to spend their money online, whether by purchasing clothes or playing online games. Among children who spend money themselves online, two out of five are now spending the majority of their pocket money online.
The issue of children’s online spending has caused considerable controversy, with children spending excessive amounts online without the authorisation of their parents. Parents, brands and regulators are all exploring ways of enabling children to participate in the digital marketplace, without their naivety or recklessness being exploited.
More services and features are being introduced, such as pre-paid debit cards, allowance options and curated online stores, to help give parents enough control over their children’s online spending habits while allowing their children the freedom to make more purchases.
Covered in this report
This report will look at the spending that children conduct themselves online. Mintel’s definition of online spending includes the purchase of goods, services and media over the internet.
The terms ‘teen’, ‘tween’, ‘child’ and ‘young people’ have been used interchangeably to describe children aged 10-15.
