Youth products are selling well, and the elderly have become an important purchasing group!

The survey results show that in the past year, due to the increase in online spending per buyer, sales of teen products have increased by 12%. Among them, more than half of teen products are sold online.

Earlier, the U.S. Teenager Survey (Autumn) released by investment bank PIPER SANDLER also showed that teenagers' spending this year increased by 6% over the previous year, reaching $2,274. Among them, clothing accounted for 22% of total spending, ranking first among teenagers. In terms of clothing style, teenagers mainly prefer sports style. In addition, this group also increased spending on perfumes, hair care products, accessories, handbags, etc. At present, the favorite shopping website for teenagers is Amazon, followed by SHEIN.

In this survey, NPD not only found that sales of youth products have increased, but also found a bright spot - more than a quarter of youth products are purchased by adults over 55 years old. NPD said this reflects the love of grandparents for teenagers.

According to the Federal Reserve, the combined wealth of the grandparents of the baby boom generation is about $5.19 trillion, more than half of the total wealth of Americans. For sellers of teen products, the strong spending power of the baby boom generation cannot be ignored.

Another NPD survey showed that with a large number of physical stores closed last year, many elderly people have adapted to online shopping.

According to other analysis, Baby Boomers spend an average of $203 per online purchase, far more than Millennials. Baby Boomers are not too concerned about price when shopping online. In fact, 77% of Baby Boomers buy products based on the value they provide. Nearly half of Baby Boomers search online for product recommendations and reviews, or research on a brand’s website before making a purchase.

Sellers can provide baby boomers with an e-commerce experience that caters to their specific preferences and needs.

USA

teenager

Baby boom