The folks at Piper Jaffray are a very brave lot. They put themselves in close proximity with 5,200 teens (average age of 16.3 years) in order to quantify their spending habits. They did this, so marketers like you could have a better understanding of how teenagers think without having to actually get close to one. You can thank them later. But right now, let’s take a look at what they got.
The survey is called the 25th semi-annual “Taking Stock With Teens” project and it begins with an overview of teen spending by category.
Incredibly, most of their money goes to fashion. Upper-income teens said they’re spending a little less but plan to spend more in the near future. Maybe they’re waiting for the new spring fashions to land in stores. Average-income teens are spending a little more than usual and I don’t even have a guess as to why.