Yankee Group Predicts that the Tween Market Has Potential to Double by 2010; Underpenetrated market segment ready for growth.BOSTON -- Yankee Group (the Yankee Group, Boston, MA, www.yankeegroup.com) A major market research, analysis and consulting firm founded in 1970 by Howard Anderson. It provides general consulting and strategic planning in the computer and communications field. today announced that the tween tween n. A child between middle childhood and adolesence, usually between 8 and 12 years old. [Blend of teen1 and between.] market is the next new growth opportunity for wireless carriers. The tween market, defined as 8- to 12-year-olds, has 5.3 million wireless users, accounting for 2.6% of all wireless subscribers. Amongst tweens, 27% have cell phones--a penetration rate that is almost one-third that of the overall wireless industry average as of year-end 2005. In the recent DecisionNote(SM), Tween Market Has the Potential to Double by 2010, Yankee Group predicts that the tween market will continue to grow substantially during the next 5 years, but little will change in the composition of users within this age bracket. Ten- to 12-year-olds will continue to dominate the market segment, making up more than 75% of the tween market. Meanwhile, 8- and 9-year-olds will continue to have low penetration because of lack of parent demand for wireless, as well as parental concerns regarding cost control and an overall hesitancy hes·i·tan·cy n. An involuntary delay or inability in starting the urinary stream. about introducing their children to cell phones at a young age. The tween market is poised for continued growth because of multiple factors including: --Overall market saturation In economics, "market saturation" is a term used to describe a situation in which a product has become diffused (distributed) within a market; the actual level of saturation can depend on consumer purchasing power; as well as competition, prices, and technology. is driving carriers to target underpenetrated market segments --Operators are increasingly adopting segmented marketing practices--either directly or through MVNOs--to create more targeted devices, plans and services --Natural evolution of technology adoption moving toward late adopters such as tweens and elderly, as wireless becomes more embedded in society "In order to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the market's growth potential, handset vendors and carriers must improve how they market to the tween audience," said Marina Amoroso Am`o`ro´so n. 1. A lover; a man enamored. adv. 1. (Mus.) In a soft, tender, amatory style. , Yankee Group research analyst, Wireless/Mobile United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . "Devices need to be cool not cute, and carriers should tailor family share plans to personalize their offer for tween audiences in order to appeal to both kids and parents." Today, carriers' tween strategies are ill defined and ah hoc at best. They generally target tweens by adding another free phone to the family share bundle. However, there are very few unique devices, service plans or packages specifically geared to serve the needs of 8- to 12-year-olds. The DecisionNote evaluates products from Firefly, LeapFrog and LG and offers recommended tween-friendly and parent-friendly features. Yankee Group (www.yankeegroup.com) At Yankee Group, we help our clients succeed by providing the knowledge, tools and support they need to make winning decisions when business opportunities intersect with technology solutions. In business more than 35 years, Yankee Group knows the importance of listening to and understanding the needs of our clients. We deliver value through authoritative, innovative and flexible research products and consulting services. Whether challenges are rooted in planning, executing or optimizing the use of technology, Yankee Group's world-renowned analysts transform market intelligence and practical, real-world experience into valuable decision support. Headquartered in Boston, Yankee Group research and sales staffs are located around the world, including North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, the Middle East, Africa, Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and Asia-Pacific. |
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