Survey: Economic Downturn Hasn’t Dimmed Teens Holiday Spending Plans

Colorado Springs, Col. Teens’ consumer confidence about holiday spending may provide an unexpected gift to retailers this year, according to Junior Achievement’s 2008 Teen Holiday Spending poll. The survey found that more than three quarters of teens surveyed (76% ) plan to spend as much—or more—this year than last year on holiday gifts.

The 2008 Teen Holiday Spending Poll’s other key findings revealed that 47% of teens surveyed said they’d spend at least $100 on gifts, a 4% increase over last year.

Of those who said they’d spend at least some money on holiday gifts, 87% said they’d use their own money, 49% said they’d use money given to them by a parent, 19% said they’d use their parents’ debit or credit card, and 16%  said they’d use their own debit or credit card (multiple responses were permitted).

Among teens who said they would spend less this year or not spend any money on gifts, 71% said they were trying to save money, 48% cited concern about the state of the U.S. economy, and 41% cited a change in their family’s financial circumstances (multiple responses were permitted).