Survey: Teens control $75 billion in discretionary spending

New York -- Teens directly command a whopping $75 billion of discretionary spending, but their wallets continue to shift from fashion and other “possession-based” categories to “shareworthy” experiences such as events and dining out. Those are among the findings of a study conducted by investment bank and asset management firm Piper Jaffrey.



The 29th semi-annual “Taking Stock With Teens” research survey, which highlights spending trends among 6,200 U.S. teens, finds that despite their penchant for shopping online, they continue to prefer sites with physical locations over pure online players.



The most preferred brands of the group include Ralph Lauren, Nike, Lululemon, Victoria’s Secret, Vineyard Vines, UGG Australia and Timberland. The most preferred cosmetic brand among teens of all income levels is MAC, while Michael Kors remains the No. 1 preferred handbag brand. And Apple cracks the top 10 of teen watch preferences for the first time in the survey’s history



The surveyed teens had stronger views regarding economic improvement with females slightly less optimistic than their male counterparts. Even unemployed teens reflected consistently optimistic economic views to their employed friends, albeit not as strongly positive.