Kippreport looks into the new trend and the change in strategyNovember 29, 2015 5:01
Children are big business
There are some things money can’t buy. For everything else, there’s a high-end children’s boutique.
May 23, 2010 1:01 by Rasha Reslan
Are You Raising a child? And are you willing to give your child everything he /she wants? Will you buy the most expensive and luxurious items? For many parents in the Middle East, the answer is a given.
Nowadays, having a bundle of joy means needing a bundle of cash. The cost of raising a child is going up and up as children become more demanding, and as parents attempt to give them the world. All the while encouraged, of course, by a legion of kid-centric brands, preying on your little angels and your wallet, whether you can afford it or not.
That’s the emotional hook – every parent wants the best things for the most important person in their life. And that’s where the business element comes in, particularly in the UAE, where the children’s furniture market is worth AED 300 million, according to the National.
Children’s furniture store Çilek is making the most of the demand, and has just opened a second store in the country, the Nationa reports. And the chain hasn’t missed a trick. “Kids today are very demanding,” the brand manager, Miles Young,told the paper. “They’re constantly being stimulated by television, the media and walking around shopping malls, so we market our products straight to them.”
Clever, though a bit underhand for Kipp’s liking.
And isn’t all this spending creating a problem for the future? Last month we reported on a 21 year old spending $2,700 at Dubai’s sixth Young Entrepreneurs Competition (YEC) at the Dubai Mall, an incredible amount given the low prices of many items.
If a child at the age of three gets luxury items, isn’t it more likely he or she will grow up to be one of the “spoiled brats” of the UAE who spend a fortune each month on clothes and makeup?
Parents should consider that when a baby gets the best of everything right from the beginning, they will have nothing to look forward to and they will grow up with an enormous sense of entitlement.