With few fixed expenses, parents to pay the bills and summer jobs to keep their pockets full, teens are typically one demographic that you can count on to spend. Not so true anymore, according to Advertising Age. Teens spend about $125 billion annually, but this spring, their spending is down about 14 percent over spring 2008.
According to a new study:
- 92 percent of females 13 to 21 are at least somewhat worried about the economy
- 87 percent of males 13 to 21 say the same
- Unemployment is up for those 16 to 19 years old
So, what expenses are getting the ax? Teens are spending less on:
- apparel
- beauty
- food
- movies
- concerts
- sporting events
They are not cutting back as much on:
- music
- DVDs
- video games
- video-game systems
Click here to read more about how teens are—and are not—spending these days.
Source:
Advertising Age: Teens, Too, Are Tightening Budgets
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