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
CurrentTrends

Social Commerce Booming

1 Mins read
Now is a good time to add social commerce to your sales strategy. Social media has increasingly become a more important channel…
CurrentMoney

4 Ways Business Owners Unknowingly Drain Their Monthly Budget

4 Mins read
As an entrepreneur, you likely have a set monthly budget that consists of all of the overhead costs needed to keep your…
CurrentMarketing

New Year, New Marketing Strategy. 3 Tips for Small Businesses in 2022

3 Mins read
Marketers, rejoice! We’ve made it through another bustling shopping season. But while the pressure is off for consumers, small businesses should begin…