Manchester-based The Insights People has released its annual Future Forecast report, revealing that the number of children spending money online has grown by 50% since the start of the year.
The report makes 10 predictions based on surveying more than 277,000 children a year, across five continents and 13 countries.
Nick Richardson, Founder & CEO of The Insights People, said: “2020 was a year none of us could have predicted, but in many ways the impact of Coronavirus has sped up a number of trends which were already in motion or bubbling under the surface.
“And as a result, I believe we are entering a transformational time, which is going to fuel innovation across the kids ecosystem, but specifically in sectors such as retail, entertainment and education – and that is going to create opportunities for brands and businesses from all aspects of the kids’ ecosystem.”
Another prediction in the report is that there will be a “huge” surge in brands looking to go direct-to-consumer (D2C). Globally, the number of children (3-18) spending money online has grown by 50% since the start of the year.
Kids Insights is also predicting a growth in Edutainment, as well increased pressure to provide children with greater protection in their digital ecosystem.
