Table of Contents
- Scope and Themes
- What you need to know
- Definition
- Data sources
- Spending data
- Consumer survey data
- Abbreviations and terms
- Terms
- Executive Summary
- Changing composition of U.S. teens
- Parents a major source of teen spending money
- More evidence of a slowdown in spending
- Leisure spending reserved for mostly lifestyle items, entertainment
- Teen spending affects mainstream trends
- Teens are enamored with electronics
- Teens are engaged in non-traditional digital media
- Market Background
- Key points
- Number of teens declining
- Figure 2: Population, by age, 2002-12
- Figure 3: Households with children under age 18 present, 2001-06
- Teens become more racially and ethnically diverse
- Figure 4: Population, by race/ethnicity, age 12-17 only, 2003-13
- Figure 5: Population, by race and Hispanic origin, 2003-13
- Figure 6: Median household income, by race of householder, 2002-06
- Fewer jobs mean less money
- Figure 7: Trends in summer employment rates of teens, 2000-06
- College plans impact spending habits for some
- Figure 8: Whether teens plan to go to college, by gender, 2006 and 2008
- Figure 9: How teens plan to pay for college, 2006 and 2008
- Teens, Money and Income
- Key points
- Teen spending expected to decline through 2012
- Figure 10: Total U.S. teen spending at current prices, 2002-12
- Figure 11: Total U.S. teen spending at inflation-adjusted 2007 prices,
2002-12
- More than half of teens receive allowance, but jobs pay much etter
- Figure 12: Teens' sources of spending money, by gender and age, May
2006-June 2007
- Figure 13: Weekly amount for allowance/doing chores, by gender and age,
May 2006-June 2007
- Figure 14: Weekly salary before taxes, by gender and age, May 2006-June
2007
- Teens and Banking
- Key points
- Savings accounts the most popular financial instrument among teens
- Figure 15: Teen ownership of financial instruments, summary, February
2008
- Younger girls are strong savers
- Figure 16: Teens' saving account balances, by gender and age, February
2008
- Teens are realistic about credit and debt
- Figure 17: Teens' attitudes towards debt and credit cards, by gender and
age, May 2006-June 2007
- Financial institutions make it easier for teens to spend
- What Teens Spend Money On
- Key points
- Clothing and music top the list
- Figure 18: How teens spend allowance money, 2005 and 2007
- Clothing makes the teen
- Teens like coffee, too
- Leisure reading on the decline
- Figure 19: Percentage of teenagers who read almost every day for fun,
November 2007
- Teens and music
- Teens are dictating music industry' s next steps
- Teens want their music, but they don' t necessarily want to pay for it
- Growth of downloads outpacing CD sales
- Figure 20: Forms of music bought in last 12 months, 2005 and 2007
- Teens want to choose their music à la carte
- Figure 21: Number of music downloads bought in last 12 months, 2005 and
2007
- Industry must find a middle ground to address file sharing
- What does this mean for the music industry?
- Teens respond to vinyl records
- Teen Shopping Trends
- Key points
- Incidence of spending on selected categories
- Figure 22: Incidence of spending on selected categories in last 12
months, by gender and age, February 2008
- Clothing the most common source of spending for teen girls
- Fast food the most common purchase for boys
- Over a third of teens have paid for their mobile phone or phone bill
- Likelihood of buying from selected clothing brands/retailers
- Figure 23: Clothing brands/retailers teens likely to buy from, by gender
and age, February 2008
- Siblings Old Navy and Gap looking to sharpen image
- Teen boys favor Levi' s and Old Navy
- Pink capitalizes on the popularity of loungewear as outerwear
- Teen girls favor specialty stores across a range of price points
- Likelihood of shopping selected shoe brands/retailers
- Figure 24: Shoe brands/retailers teens likely to buy from, by gender and
age, February 2008
- Six out of ten teens are likely to buy Nike
- Adidas and Reebok team up
- Teens appreciate saving money on shoes
- Likelihood of shopping selected personal care retailers
- Figure 25: Personal care retailers teens likely to buy from, by gender
and age, February 2008
- Specialty retailers resonate with teen girls
- Walgreens tops the list of retailers favored by teen boys
- Likelihood of shopping selected discount retailers
- Figure 26: Discount retailers teens likely to buy from, by gender and
age, February 2008
- Teens value the savings and one-stop shopping appeal of Wal-Mart and
Target
- Teen girls are more likely to favor a wider variety of retailers
- Leisure Time Spending Occasions
- Key points
- Fast food
- Figure 27: Fast food outlets teens likely to buy from, by gender and
age, February 2008
- At least eight out of ten teens are likely to buy from McDonald' s
- Teens aren' t all about burgers
- Dunkin' Donuts might be able to capitalize on popularity of coffee drinks
among more price-sensitive teebesity concerns may affect future teen behavior
- Movies
- Teens are most frequent moviegoers
- Figure 28: Frequent (at least once per month) moviegoers by age group,
2002-06
- Movies catering to a younger audience report strongest sales
- Figure 29: Top 10 grossing films, by domestic box office and rating,
2007
- Online shopping
- Figure 30: Internet sites/retailers teens likely to visit/buy from, by
gender and age, February 2008
- Most likely Internet destinations are not retailer sites
- More than half of teens are likely to buy from iTunes site
- Teens and Electronics
- Key points
- Teen ownership of selected electronics
- Out with the old, in with the newest technology
- Figure 31: Teen ownership of selected electronics, 2002-07
- Teen ownership of portable MP3 players
- Figure 32: Teen ownership of MP3 players, by race/ethnicity, May
2006-June 2007
- Stark differences in MP3 player ownership by race/ethnicity
- Teens might not be buying MP3 players for themselves, but they are
willing to
- Popularity of iPod benefits market as a whole
- Figure 33: Brand of MP3/digital media player owned, ay 2006-June 2007
- MP3 players in schools
- Teen ownership of mobile phones
- Keeping in touch is essential
- Mobile phone ownership on the rise among teens of all races/ethnicities
- Figure 34: Incidence of teens owning mobile phones, by race/ethnicity,
2002, 2005 and 2007
- Teens likely on family plans
- Smartphones for teens new trend
- Mobile phones crowding out ownership of digital phones among teens
- Figure 35: Digital camera sales, 2003-08
- Teen ownership of video game consoles
- Video games moving beyond the teen realm
- Media and Advertising
- Key point
- Introduction
- Television ads need an edge to catch teens' attention
- Boost Mobile
- Figure 36: Boost Mobile television ad, 2008
- FiveStar Flex Binder
- Figure 37: Five Star Flex Binder television ad, 2008
- Fly Fusion Pentop Computer
- Figure 38: Fly Fusion Pentop Computer television ad, 2008
- Helio Ocean
- Figure 39: Helio Ocean television ad, 2008
- Nike 6.0 Sports Shoes
- Figure 40: Nike 6.0 Sports Shoes television ad, 2008
- Panasonic, Ecko Unlimited, and Vans
- Figure 41: Panasonic Digital Camera television ad, 2008
- Figure 42: Ecko Unlimited Footwear television ad, 2008
- Figure 43: Vans Sports Shoes television ad, 2008b
- Social Networks
- Key points
- Social networks are integral to teen life
- Figure 44: U.S. Online social network advertising spending, by type of
network, 2007-08, May 2007
- Figure 45: U.S. Online social network advertising spending, 2006-11,
March 2008
- Popularity of social networks spawns new advertising techniques
- Widgets
- Recruiting brand advocates
- Profile branding
- Online video integrates advertiser messages in new ways
- Sponsored video
- Branded video
- Appendix: Other Useful Consumer Tables
- Respondent profile
- Figure 50: Demographic profile of teens surveyed, February 2008
- Household demographics of teen respondents
- Figure 51: Demographics of households with teens aged 12-17, May
2006-June 2007
- Trended data
- Figure 52: Discount retailers teens likely to buy from, 2006 and 2008
- Appendix: Trade Associations
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