Less than half of all youngsters who replied to a local spending survey spend their pocket money locally, the Jersey Consumer Council can reveal.
A survey of more than 2,000 of the Island’s secondary school children during the last term has offered an insight into their spending habits.
40% of the Island’s young consumers spend their money online. With new electronic ways to pay pocket money and the continued growth of online stores, gaming and music downloads, the expectation is that figure will grow, adding more pressure to local retailers.
Nearly two thirds of students undertake chores in return for their pocket money/allowance, with the majority of those tidying their bedrooms. Of those who receive an allowance, 21% save it, and over a fifth of respondents do not receive any form of regular money, with 16% not receiving any.
The survey, the first of its kind, also revealed that the majority of the Island’s students used their ‘Spend Local’ card on clothing and shoes, while nearly 430 students had the cards either swapped for cash, amalgamated to buy a big family purchase or taken from them by their parents.
Chairman Carl Walker said: ‘With 50% of respondents receiving their allowance in the form of cash, the majority ranging between £20 and £40 a month, there is a substantial amount of potential spend for the local economy burning holes in students pockets each week.
‘Our local retailers should sit up and take note of this statistic, and hopefully use it as a reason to offer incentives and deals for our students. The money is there and, with a lot of it being cash, is being spent somewhere each week.
‘While the results of the survey offer us a fascinating insight into the spending habits of our Island’s youngsters, it also demonstrates the growing influence of online purchases. How ever they spend their money, our young Islanders are a real – and potentially unrecognised – force in local consumer spending and as soon as Covid measures allow, the Consumer Council will be returning to schools to educate our students about their consumer rights.’
Executive Officer Tina Langdon, who co-ordinated the survey. said: ‘In this digital age, it’s unsurprising to learn that 40% of the Island’s students spend their money online. They are the future so important their wants and needs are not over-looked by local retailers.’
Full results to the survey can be found here https://www.surveymonkey.com/results/SM-C3NJ2DY89/
Survey forwarded to Beaulieu, De La Salle, Grainville, Highlands, Le Rocquier, JCG and Victoria College between the dates of September to December 2020. Les Quennevais politely declined due to starting the academic year in a new school building and the challenges Covid brought.