Young compulsive shoppers booming
They live life over the top – brands and all, as mommy-daddy foot the bill, writes Archna Matharu.india Updated: Jan 30, 2009 15:54 IST
Dressed in Levi’s jeans and a Benetton tee, whizzing past on a Karizma bike or a Honda Accord, flaunting an i-Phone and hanging out with friends at a chic restaurant or a buzzing coffee shop describes our Gen Y.
The economy of the world may have been severely hit by recession but it seems to have no effect on the pocket of youngsters in the city. There seems to be no end to the money they spend on themselves, making compulsive shoppers of them in the long run. Whatever the product, when they want something, they want it top of the range.
“The amount of money being spent by youngsters has increased as these days parents prefer having just one or two children. So, they do not hesitate in giving them more pocket money,” says Manjot, a father of two.
Nothing but the best
Over the years, youngsters have started overindulging themselves in luxurious goods. Be it expensive gizmos and gadgets, branded clothes or fancy bikes, the youth wants it all, irrespective of the price. And they do not feel shy in admitting it. Quips Gautam, a Master’s student, “With the change in society, needs have changed. Each member of the family now needs an individual vehicle and cell phone. So why not have the best? And in order to maintain a status among friends, one has to do this.”
Another big shift in the attitude of the youth is that they have become brand conscious. Whatever they buy, it should be branded, especially the clothes that they wear. Be it Reebok, Nike or Adidas — they have it all in their wardrobes. Feels Vinu, a college student, “Everybody wants to look impressive and have a good personality. And I feel that branded clothes give you a certain edge. I prefer having one pair of jeans of a good brand instead of several non branded ones.”
Parental check: A must
While the young generation’s spending power may have gone up, it often ends up being a burden on the parents. The source of money for most of these youngsters is the pocket money they get.
How rational are they with their spending? “Children fail to understand the value of money easily. They often demand expensive gadgets or plan parties after being influenced by classmates or friends. So, I feel that it is the responsibility of the parents to check with the amount being spent by their children and which avenues,” warns Sweety, mother of two college goers.