S100 billion allowance, The

Growth Strategies, Jul 17, 2000

The most diverse, multicultural, hybrid, cosmopolitan population on Earth are the planet's 560 million teenagers. According to Elissa Moses, author of The $100 Billion Allowance: Accessing the Global Teen Market (2000: John Wiley & Sons), forces of globalization in culture, technology, media and entertainment have created a true global youth market - a unified and cohesive worldwide youth culture. In other words, in the modem world of MTV, Coke, CNN, Nike, videos, CDs, PCs and the Internet, kids around the world are more alike than ever before.

Moses' book is based on the New World Teen Study, the most comprehensive survey of worldwide teen consumerism ever undertaken. Findings reveal an astounding level of common experience. Consider global teen media and information-gathering habits:

* 85% have telephones

* 85% watch MTV or music videos

* 81% use computers

* 81% enjoy movie comedies

* 79% watch television daily

* 73 % listen to the radio at least weekly

* 73% watch the Olympics

* 71% enjoy watching or playing basketball

* 69% read magazines monthly

* 68% read newspapers weekly

* 43% watch the news often

What this means is that teens around the world have surprisingly similar impressions, perceptions and aspirations. They love global brands, think America is "cool," speak English in amazing numbers, and (following Zachary's description in The Global Me) have both "roots" in their local cultures and "wings" that take them into the global marketplace (where they spend $100 billion a year).

According to Moses, there are 10 unifiers of global youth culture:

1. Unabashed consumerism

2. Passion for technology

3. Perpetual entertainment

4. Endless experience and learning

5. Exploration and mobility

6. Sports participation and observation

7. Respect for global icons

8. Humanism and empathy

9. Hope and trust in the future

10. Self-navigation (the ultimate unifier) There are also 8 key differentiators:

1. Local economic realities

2. Worries

3. Love and sex

4. Drugs and drinking

5. Technological access

6. Responsibilities and pressures

7. Local pride

8. Values

Writes the author:

Teens all over the world lead parallel lives. The modern rituals of being a teenager are remarkably uniform throughout the world due to the globalization of culture....

These kids are wearing American clothes, watching American movies, playing American video games, using American software, eating American food, drinking American soft drinks, and - above all dreaming the American dreams....

The universal dream is to lead a good life with a rewarding job, have satisfying family relationships, enjoy rich experiences, manifest freedom and self expression, and possess lots of consumer goods. The United States has exported the American Dream - translated loosely as the freedom to consume - and youth all over the world have accepted it completely.