Stay in the know. Subscribe to Currents
CurrentTrends

Cheez-Its, Goldfish, and TikTok…Oh My! Gen Z Teens are Spending More

1 Mins read

The just released Piper Sandler Companies’ Taking Stock With Teens® survey in partnership with DECA (the 45th semi-annual) reveals that teens are spending more money, primarily on food, clothes, and makeup.

According to the spring 2023 survey, teen spending is up 2% from spring 2022 to $2,419, with their parents chipping in 60% (down 1%).

Teen boys had the most spending growth (up 6% from last spring) and spent most of their money on food (24%), while teen girls spent the most on clothes (28%, down from 30% last fall).

The core beauty spend (cosmetics, skincare, fragrance) increased 19% from last spring, led by cosmetics (up 32% year-over-year). Teens use more makeup daily (with the bargain-priced e.l.f. remaining their favorite brand). In fact, spending on makeup surpassed the amount spent on skincare for the first time since 2020.

Teen boys spent 12% of all their money on video games (down slightly from 14% last spring), and 32% say they plan to buy a NextGen console within two years.

Piper Sandler notes that “shopping channel preferences shifted to off-price and secondhand.

Gen Z is still socially and politically involved. Their top issues are (in order): the environment, racial equality (moving up the number 2), abortion, inflation, and The Willow Project, a controversial plan to drill for oil in Alaska.

Teens’ tops brands:

  • Nike for clothes and footwear
  • Ulta for beauty products and services (e.l.f. for makeup)
  • Amazon for online shopping
  • Coach for handbags
  • Chick-fil-A is their favorite restaurant, followed very closely by Starbucks
  • Netflix for video consumption
  • Spotify for streaming
  • iPhones
  • TikTok for social media

My favorite stat? Teens say they have the “highest intentions to eat more or the same amount of Cheez-Its and Goldfish.”

Teens stock image by LightField Studios/Shutterstock

Related posts
CurrentMarketing

15 Ways Small Businesses Can Improve Their Website Design for a Better Customer Experience

7 Mins read
In the digital age, a well-designed website is crucial for small businesses looking to enhance customer experience. From optimizing for mobile accessibility…
CurrentMoney

How to Save Your Small Business More Money When It Comes to Energy

3 Mins read
One of the most crucial roles of a small business owner is trying to minimize costs. Any unnecessary bills can quickly eat…
CurrentManage

Ensuring Accountability in Virtual Teams

4 Mins read
Many managers who supervise remote team members struggle to trust their far-away coworkers. A boss can no longer just walk past the…