Abstract
Teen consumers are an important part of the U.S. economy, as this is the group most likely to embrace new technology and show the most enthusiasm for current trends that later filter into the mainstream. Teens make purchases to define themselves and to create an identity of their own making. Therefore, the products and services that are best geared for teens are those that reflect a certain attitude or statement about the wearer or user.
This report contains actionable suggestions for companies interested in learning about:
" How teen financial power has grown (and declined) and how it shifts when explored and filtered by factors such as ethnicity, household income and age.
" How teens become more realistic about money, establish savings plans, and become wary of debt as they grow older.
" How the reversal in teen spending from a long period of growth ending in 2003 to decline in 2007 may have been a leading indicator for current economic weakness-and a guide for what will happen in 2008-12.
" How girls are more active shoppers than boys in most categories but both genders demonstrate that they are more conscious of what they look like and where they shop than previous generations.
" Which electronics are most popular among today' s teens, and why.
" How, more than past generations, today' s teen consumers are concerned about connectivity; they need to be connected to friends and family, wherever they are.
" How new media competes against traditional media for teens' attention, and which methods have experienced success.
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