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James McNeal, professor of marketing at Texas A&M University, an expert on kids' marketing. McNeal, who noted that his estimate - which was just raised from $150 billion - is 'conservative,' further estimated that children indirectly influence between $350 billion and $400 billion worth of purchases a year. 'I don't think there is enough respect for this consumer group, given that they have more market potential than any other,' McNeal said. The wealth of these 34 million children, he noted, has been growing at the rate of 20% a year for the past five to seven years.
Recognition of this wealthy consumer group has been slow in coming, but it is gaining attention...
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