If your clients are only looking to the future when planning Gen Z targeting campaigns, they’re overlooking the buying power these (mostly) teens and pre-teens have right now.
Tag: teen spending
"Piper Jaffray recently completed its 37th semi-annual Generation Z survey of 8,000 U.S. teens. Overall, it found that teens claim they spend approximately $2,600 per year, a 1% year ‑over-year raise and a 6% compared to last fall."
Michael Kors remains the No. 1 preferred handbag brand among teenagers, eclipsing CoachÛªs peak share in 2012. The Piper Jaffray Survey of 6,200 teens indicates optimistic economic views among the teens, with an average age of 16.3 years. Females are slightly less optimistic than their male counterparts.
Teens are experiencing general spending fatigue across key categories, specifically fashion related items. Despite over two-thirds of teens signaling confidence the economy is stable to improving, intent to spend is moderating. Teens are shopping more in multi-branded, multi-category and online retail environments.
The current economic belt tightening has extended to even the most fickle of consumers, teens. And a recent Wall Street Journal report indicates that summer employment for teens may be scarce this year. But your clients can still target this demographic if you arm them with the right information.