Some 24 million strong, today's teens between 12 and 17 years of age are a highly sought-after consumer market. With unprecedented spending power and demographic trends favoring growth, this digitally advanced generation is an increasingly important consumer group. Because lifelong brand preferences are often solidified during adolescence, marketers are more aware than ever of the importance of teen consumers.

Embracing and mastering all the latest technological innovations which include MP3 players, DVDs, PDAs, satellite and cable TV, cellular phones and personal computers, many teenagers are more knowledgeable about technology than their own parents and teachers. According to Simmons research in 2001, approximately 92% of teens (between 12 and 17) report using a computer at home or at school. Coupled with technological know-how, factors related to lifestyle issues, demographics and the economy have positioned teens 12-17 years old to have access to higher levels of disposable income than ever before, upwards of $107.1 billion in 2001.

This 12-17-year-old age segment, the core of Generation Y, is part of a generation comprised of those born between 1976 and 1994 (aged 7-24 in 2001). An ethnically diverse generation, Stanford University reports that racial and ethnic minorities comprise 34% of Generation Y compared with 24% of the Baby Boom generation.

Today's teens, with their acknowledged technological expertise and awareness of marketing and advertising intent, could be considered more "perfect" economic consumers (i.e. they have greater market knowledge) than any generation before them. This has obviously been recognized by manufacturers, media and advertisers, looking to attract this group with specific products and messages.

This report is designed to present a picture of the teen as an earner and spender of cash, and as one of today's most sought-after consumers of products and media. Though teens represent an increasingly attractive market from a monetary perspective, they also embody an elusive demographic that is difficult to reach. Gravitating towards that which they perceive to be authentic, teens are discriminating consumers who relish a surprise and are touched by humor and adventure. In large measure due to their rapidly changing tastes and their heightened sensitivity towards marketing efforts, this report explores the theme that today's teens require very targeted and evolving messages through multiple channels in order to be reached.

For the purposes of this report, the following definitions have been used:

The segment of the U.S. population included in Mintel's definition of "teen" are those aged 12-17, in accordance with the age of respondents surveyed in the Simmons Teen Survey. The broader generational terms Generation Y, Gen-Y, Echo Boomers and Millennial Boomers are used interchangeably throughout this report to refer to the age group born between 1977 and 1994 (aged 7-24 in 2001).