Stay in the know. Subscribe to Currents
CurrentTrends

Teens are Spending (& Doing) More

1 Mins read

Investment bank Piper Sandler Companies released the results of the Fall 2021 “Taking Stock With Teens ®” survey in partnership with DECA a few months ago, showing overall teen spending was up 6% year-over-year.

Clothing regained the top spot in wallet share for the first time since the fall of 2014, toppling food. Upper-income teen girls bought a lot of clothes this fall, up 14% year-over-year. And athletic apparel maintains its top ranking in the type of clothing they’re buying. (Surprisingly to me, teens are buying more Crocs.) Teen girls bought a lot of accessories too—sales were up 10% year-over-year. Their “self-reported” spending improved to $2,274, up 6% year-over-year.

Survey highlights:

  • Snapchat and TikTok are their favorite social mediums
  • Spending slightly down: video games, movies & personal care
  • In the beauty category, spending is up for haircare (8%) and fragrance (14%) and down a bit for skincare and cosmetics
  • They’re shopping for their beauty products primarily at Ulta (46% share) and Sephora (21% share)
  • Teens are comfortable buying second-hand merchandise—with 51% having purchased second-hand goods
  • Gen Z is a socially-conscious generation. Their top social/political causes: the environment, racial equality & Afghanistan

There’s more information here.

Protester photo by Diego G Diaz/Shutterstock

Related posts
CurrentLead

4 Tips for Gen Z Entrepreneurs from a Gen Z Entrepreneur Doing the Work

4 Mins read
Over 10,000 business books are published each year – an endless glut of advice on entrepreneurship for the taking, mostly given by…
CurrentManage

Starting a New Business: Legal Requirements

3 Mins read
While you might love to be your own boss, the thought of setting up a business can be intimidating. When working as…
CurrentMarketing

Email Design Trends 2023 to Gain an Edge Over Your Competitors

3 Mins read
Email design has evolved and how! What started with simple formatting like changing font colors, size, and adding some emojis in the…