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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

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