YOUNG GUNS; STRAIGHT SHOOTERS AT FAIRCHILD'S SUMMIT ON TEENS AND TWEENS TAKE AIM AT THE RAPIDLY EXPANDING -- AND EVER-CHANGING -- YOUTH MARKET.(Teenage Research Unlimited)

Daily News Record, April, 2003 by BAILEY, LEE

Michael Wood, vice-president, Teenage Research Unlimited

Michael Wood had all the answers when it came to what teens really want. His firm conducts both quantitative and qualitative research with adolescents across the country, and he shared some results at the conference. IT'S RAINING TEENS: Wood said the teen population has grown 7.3 percent in the last six years, and is set to peak in 2010. Last year teens spent $170 billion, a figure that represents a 38 percent increase since 1992, and does not include money spent on their behalf by parents. An average of 85 percent of teen spending is discretionary, and 80 percent of teens have more than one income stream, including allowance, gifts and part-time jobs. WHICH TEEN ARE YOU MARKETING TO? Wood explained to...