Stay in the know. Subscribe to Currents
CurrentTrends

Talking Teens: Gen Z Spending Rises

1 Mins read

One of my favorite surveys was just released. The Piper Sandler Taking Stock with Teens report comes out twice a year. This Spring 2022 survey, which examines purchasing behaviors of Gen Z teens, reveals:

  • Teens reported spending $2,367, up 4% from the Fall survey and 9% from Spring 2021.
  • Teen girls drove the increased spending, up 9% from Spring 2021. Their primary purchases? Clothing and footwear.
  • Food is back as the top spend for upper-income teens, up slightly from the Fall numbers but down a bit from last Spring.
  • Teens initiated the current second-hand shopping trend several years ago. (Target just teamed up with ThredUp.) They allocate 7% of their shopping time to purchasing secondhand items—46% have purchased used merchandise, while 56% have sold secondhand goods.
  • Spending on beauty products is up 10% over last Spring. Skincare had the largest share of the beauty spend, followed by cosmetics and haircare. Teen girls are conscious of the ingredients in their beauty products—60% read product labels, 88% say they’d pay more for “clean” beauty products, and 58% would pay more for “science-backed” items.

Brand Preferences

Like many of us, teens tend to be loyal to their favorite brands and places to shop:

  • Amazon is their top e-commerce site overall (53%), but it decreased in popularity among upper-income teen girls.
  • Athletic apparel was their favorite type of clothing, with Nike claiming the top spot for apparel and footwear.
  • For the first time in this survey e.l.f. was the top preferred makeup brand for all teens, displacing Maybelline. Ulta (#1) and Sephora (#2) held on to their spots to buy beauty items.
  • TikTok has replaced Snapchat as teens’ favorite social media platform, with a 33% share of the teen market, compared to Snapchat’s 31% and Instagram’s 22% share.

 

Teen shopping stock image by View Apart/Shutterstock

Related posts
CurrentTechnology

Investing in AI and Automation in an Uncertain Economy

3 Mins read
Amid rising inflation and rumblings of an impending recession, businesses of all sizes are working hard to stay on top of all…
CurrentStart

5 Things Every Female Entrepreneur Should Know

2 Mins read
So, you’ve decided to become an entrepreneur.  You’re in good company!  According to the National Association of Women Business Owners in the…
CurrentLead

3 Ways You Can Begin To Effectively Tackle Employee Burnout

5 Mins read
  Be kind and completely understanding One thing I’ve learned though, especially in the last 2 years, is that everyone has the…