Young money is big

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Saturday September 22, 9:17 AM

Young money is big
SINGAPORE: It started as a T-shirt venture between two friends seven years ago. But Flesh Imp now has three Orchard Road stores which had a total turnover of more than S$1.5 million last year.
And all this from selling street-cool tees to customers aged between 16 and 24 — a group once deemed to lack the financial clout of their older counterparts.
But Nicholas Cho and Vincent Q of Flesh Imp have never seen this as a stumbling block.
Nicholas told Today: "Youth like being unique and know that doing so comes at a price. They do not have commitments like older customers who may have to pay off a housing loan or support the family."
Flesh Imp isn't the only brand that has recognised the lucrative spending power of youth in Singapore. The art of selling to adolescents is a serious business, with the Youth Marketing Forum Asia 2007 sponsored by MTV, which is being held from Sept 25 to 27. At the event, retail experts including Adidas, MSN and McDonald's will discuss youth trends and ways to reach out to the younger market.
Nicholas is one of the panellists at this forum, where his role is to "have my brains picked".

At 29 and 31 respectively, Nicholas and Vincent may be older than most of their customers, but they still know how to attract the young crowd. The quirky brand name is one way. A second is a mascot — Flesh Imp's is a graphic icon with a forked tail and horns.
Although Flesh Imp got its break designing and selling men's tees, it has now expanded into women's partywear and jeans.
But fashion is not just about clothing. "The interactivity element is very important for us," Nicholas explained.
Flesh Imp holds casting calls for customers who double up as models in its catalogues and at fashion shows. And, apart from maintaining a blog (www.fleshimp.com/blog), Flesh Imp has also collaborated with international brands, such as Motorola, to launch T-shirt collectibles and even a hip-hop CD compilation.
Also doing things differently is the Clean & Clear skincare range by Johnson & Johnson. According to brand manager Vanessa Johari, Clean & Clear associates itself with events relevant to teenagers. It is the main sponsor for Channel U's Hey! Gorgeous — a programme that features students in tertiary institutions.
Hoyu Beauteen, a DIY hair colouring range, features manga characters on its packaging. Each character comes with a profile, including details such as blood type, obsession and ambition. Said Mabel Yeo, Hoyu Singapore's marketing manager: "We want to make our products more fun and engaging for young customers."
Suggested Nicholas: "When targeting the youth market, you have to keep up with your customers so that your brand doesn't become passe."
It's a theory that lingerie brand Triumph International may attest to. Its Miss Triumph range brings to mind the earlier Bee Dees line, which is "phasing out in line with global direction". Miss Triumph's core target group is aged 16 to 25.
Said marketing head Sheryl Wong: "Youngsters are always looking for new trends and they are more open-minded and less set in their ways."
But to cater to younger customers, who "continually need to be pacified with new things", the real trick is in introducing new designs fast.
So, why is the young customer king these days? Grace Tan, Maybelline's product manager, dubs the market "extremely viral". If a young customer is fascinated with a product, so will his or her friends.
"It's about recruiting groups of young people at any one time," she said.
For her, it is also important to "loyalise" these young customers now so that they will remain followers of the brand even after they grow up.
To do this, Maybelline offers "trendy and fuss-free make-up with accessible prices". For instance, its fruit-flavoured Fruity Jelly lipglosses and oil-absorbing Clear Smooth foundations and powders are the best sellers among the brand's customers, who can be as young as 15.
Vodaskin, a face and body treatment salon, goes even younger. Located at youth haven Far East Plaza, it targets kids from age 13. What's attractive is Vodaskin's affordable and quick treatments, which start at $25 for a 20- to 30-minute session.
Said marketing executive Daphne Tan: "Teenagers are glad that they can have facials at such prices since most of them are not working. Between study breaks, they can pop in for quick treatments before heading back to school."
But 13 is not young enough for Silkygirl's new Cool Girl make-up range, which targets10-year-olds.
Marketing manager Tan Theng Theng said: "Teenagers are more exposed and experimental now. It is natural that they start exploring cosmetics at a much younger age. What we have is a younger range that caters to these girls, with products in lighter shades and cuter packaging."
Even so, the packaging is not the sole factor when it comes to making a purchase, at least not for 16-year-old student Lung Wen Si.
"You probably won't want to spend your money on something with only good packaging, no matter how cheap it is," said the savvy shopper. "If it's a lipgloss that makes me feel like I'm applying cheap plastic on my lips and it feels more greasy than glossy, then the packaging doesn't really matter that much anymore.
"What matters most is the reliability of a product." - /ac