U.S. teenagers spend $2,274, with clothing being the biggest expense

Recently, investment bank PIPER SANDLER conducted a survey on spending patterns, brand preferences and other issues among 10,000 teenagers with an average age of 15.8 in 44 states in the United States.

The survey results show that American teenagers spent $2,274 this year , a 6% increase from the previous year . Among them, clothing accounted for 22% of the total expenditure , surpassing food's 21% share, becoming the top spending category since the fall of 2014.

In the apparel sector, sportswear remains the dominant trend, but there have been some changes in the preferred brands of teenagers. Nike is still in the lead, but fashion brands Crocs, Pacsun, Hey Dude, Zara, Shein and Gymshark have all increased their share.

In addition to clothing, beauty spending is also changing, with spending on perfume increasing by 14%, hair care increasing by 8%, and spending on skin and cosmetics decreasing. In addition, spending on women's accessories has also increased, up 10% from the previous year; and spending on handbags has also increased by 10% year-on-year. Beth Goldstein, an analyst at the research firm NPD, said that as consumers return to their pre-epidemic lives, they plan to treat themselves well. In addition, after staying at home for several months, they have more spare money and are willing to spend it on handbags.

Piper Sandler believes that teens will continue to buy new clothing and accessories until 2022. Currently, Amazon is still the favorite shopping website for teens, and SHEIN ranks second. It is important to note that Amazon's popularity has dropped by 2% from the previous year, while SHEIN has increased by 4%. The survey also shows that this year teens listed the environment as their top social issue of concern. Second-hand goods are now very popular among teens, with 62% of teens saying they have sold second-hand goods and 51% of teens buying second-hand goods.

In terms of social platforms, Snapchat, TikTok and other platforms are very popular among teenagers. 35% of teenagers said they like to use Snapchat the most, followed by TikTok (30%) and Instagram (22%). In terms of videos, teenagers spend a lot of time on Netflix and YouTube.

Sellers can develop corresponding sales plans based on the survey results.

USA

clothing