Where do investment ideas come from? Something you read in the paper? Something your broker, or maybe a friend, recommended?
Here’s a thought: What about trying to get some tips from your kids? It can happen.
Any parent who drives children around all day has an all-access pass to a special world—the world of young consumers. If you listen, you’ll hear what they want, what they are buying, and—of course—what they want you to buy them. Pay attention to what’s happening in their world, and you might come up with some good investment ideas of your own. (For more on this, read Rogers Park Montessori School: New Kids on the Stock.)
- Smells like teen spirit: “Axe—I smell it everywhere,” the mother of a fourteen-year-old boy told me. “Axe body spray, Axe body wash, Axe deodorant, Axe hair gel … you get the idea. They make everything. And every teenaged boy wears that scent.” Axe is everywhere, but where does it come from? It’s one of the myriad of products made by Dutch consumer products giant Unilever, traded in the U.S. as an ADR. You know Unilever—they’re the same folks who bring you your SlimFast.
- They Wear It Well: Under Armour’s aggressive marketing campaign has apparently caught on with young boys on the field. Under Armour makes “performance apparel” for sports like basketball, football, and soccer, and kids wear it with pride. The company recently entered the running-shoe arena, setting its sights on Nike. Will it succeed?
- School of Roxy: The girls who are watching the guys who smell like Axe and wear tight Under Armour t-shirts are wearing Roxy t-shirts. Sounds like an eighties band, I know, but it’s one of the many skate/snow board apparel labels owned by surf pioneer Quiksilver. Teenaged girls love Roxy’s tiny t-shirts and hoodies.
- Betwixt and Be Tween: Aeropostale is a mall store that mothers of tween girls know all too well. The mother of three young girls told me recently that she’s there so often she’s memorized the layout of the store near them.
So the next time you get dragged to the store by your children, think of it as research. Then, head to the Kids Stock Market at WeSeed.com, where you can test-drive your ideas and teach your kids how turn what they know into smarter investing.
Who knows, your next great investment idea might just pop out of one of those shopping bags. It’s a great example of investing in what you know.
Jennifer Openshaw of WeSeed