Opportunities for brands and businesses will be created from all aspects of the kids’ ecosystem, says ceo as company launches its 2021 Future Forecast report.
Kids Insights has released its Future Forecast report, making ten predictions for 2021 and calling it a year of ‘increasing influence and opportunity’.
The Future Forecast 2021 report makes the ten predictions based on its extensive experience of the kids’ ecosystem by surveying more than 277,000 children per year, across five continents and 13 countries, or interviewing a child every 30 seconds.
“2020 was a year none of us could have predicted, but in many ways the impact of Coronavirus has speed up a number of trends which were already in motion or bubbling under the surface,” said Nick Richardson, founder and ceo of The Insights People. “And as a result, I believe we are entering a transformational time, which is going to fuel innovation across the kids ecosystem, but specifically in sectors such as retail, entertainment and education – and that is going to create opportunities for brands and businesses from all aspects of the kids’ ecosystem.”
Predictions include the growth in direct-to-consumer retail, with Kids Insights data showing that online purchasing by children has increased by 50% in 2020, and has shown the quantity of US tweens who own or use digital currencies such as Bitcoin, has grown by 63% in the past 12 months.
The company is also predicting significant innovation in the education sector and specifically the growth of edutainment.
In France, 168% more tweens used YouTube to watch educational videos throughout the pandemic-stricken school year, compared to 2019. While, some education institutions have decided to embrace platforms – such as Minecraft, Roblox and Fortnite – on which kids are digital natives in order to engage their virtual classrooms. Currently, Minecraft is the most popular console game among 6-9 year olds in the US, making its Education Edition the perfect classroom tool to engage kids during unprecedented times.
With kids spending more time online, it is more imperative than ever that there is safeguarding in place for them.
Kids are gaining more access to technology at a much younger age. 76% of UK 3-5 year olds now have access to a tablet, while in the US, the data from the 10-12s and 13-18s age categories state that kids on average, own four smart devices. As we move forward, there is going to be increased pressure to provide children with greater protection in their digital ecosystem.
Away from the digital world, one of the other predictions in the report is the growing trend in kids influence on family and household purchases. These influences range from TV subscriptions, food choices and even new family cars – with Kids Insights data showing the latter has increased by 54% in the US over the past 12 months.
Other predictions include the rise of niche to become mainstream.
To download the full complementary Kids Insights Future Forecast 2021 report and view the Future Forecast webinar – which featured The Insights People research and trends director Sarah Riding, Epic Story’s Ken Faier, KidZania’s Prof Dr Ger Graus OBE and Mattel’s Michael Swaisland – please visit: http://www.kidsinsights.com/futureforecast.