Apr 29, 2022Read of the week: American teenagers’ spending increases

American teenagers’ spending habits seem to have bucked the trend of being negatively affected by inflation. In fact, they’re actually reporting a higher anticipated spend than they did in both spring and autumn 2021 – where is all this extra dollar coming from?

Author
Veronica TroyVeronica Troy is Insights Editor at Canvas8 and oversees the Signals content stream. With an MA in anthropology, she tracks human behaviour across markets and sectors, helping brands uncover patterns and shifts to better understand people's wants and needs. Outside of work, you’ll find her on the lookout for the best dumplings, the weirdest craft beer, and the sort of folk gigs your grandparents like.

US Gen Zers spending is up by 9% from spring 2021, and 4% from autumn 2021, amounting to around $2,300 in expected spending for 2022. But since many younger Gen Zers don’t have to worry about paying bills, rent, or even shelling out for groceries, it makes sense that teens’ spending, as a cohort, will be the least impacted by the financial burden of inflation.

So what are they spending that disposable income on? Food, video games, and fashion, according to a biannual Piper Sandler survey. And while men spend more on footwear and women more on clothing, athleisure brands like Nike and Lululemon are coming out on top for everyone, pointing to a further cementing of pandemic-acquired attitudes towards comfort dressing.

Stay on top of the latest insights with Keeping TABS, our free newsletter
Want our free newsletter, previews of report releases and event invites?
Yes please