Teen consumers are an important part of the U.S. economy. Although teens curtailed spending due to the recession and its lingering effects, they held back less than other groups and were the quickest to return to the check-out counter when the market improved. Because most teens are dependent on their parents, they don’t have the burdens of credit card debt, student loan bills, and mortgage payments, which enables them to spend more impulsively and frivolously. Teens are in the process of forming their own identity and often make purchases to define themselves in the context of their peers. 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 will closely examine:

Teen consumers are an important part of the U.S. economy. Although teens curtailed spending due to the recession and its lingering effects, they held back less than other groups and were the quickest to return to the check-out counter when the market improved. Because most teens are dependent on their parents, they don’t have the burdens of credit card debt, student loan bills, and mortgage payments, which enables them to spend more impulsively and frivolously. Teens are in the process of forming their own identity and often make purchases to define themselves in the context of their peers. 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 will closely examine:

the impact of teen spending on the economy; teens’ source of funding and primary payment methods; spending priorities, and how their spending habits have changed

how the recession has affected teen spending

how teen priorities appear to have shifted from short-term gains from employment to longer-term benefits of education

the demographics of the teen population and how the makeup of this group will affect the teen markets