Teens Are Shopping Differently, And That Could Spell Promise, Or Trouble, For These Brands
Learning how teens spend has been a years-long effort for retailers because their likes and dislikes can decide the fate of a brand or a season. Cracking the code on today’s teens, dubbed digital natives, is no exception. As retailers gear up for the industry’s critical holiday sales season, the latest reading on teens may offer some cause for worry: Teens, part of Gen Z, have lowered their self-reported annual spending by 4% from a year earlier, to $2,400, the lowest level in eight years, investment bank Piper Jaffray reported in its Taking Stock With Teens fall survey, released Tuesday. One culprit: About a third of the teens, up from a quarter a year earlier, said they believe the economy is getting worse, according to the survey, which polled 9,500 teens across 42 U.S. states, with an average age of 15.8 years. Read more at Forbes.