Piper: Teen spending down 4% year-over-year

• Overall “self-reported” spending by teens was down 4% year-over-year and 10% from spring 2019, the lowest level since fall 2011.
• Food remains teens’ top priority in terms of spending share; Chick-Fill-A ranks first for the fourth consecutive time.
• Ulta remains a more popular beauty destination than Sephora, but teen spending on makeup fell 21% year over year.
• Handbag spending hits a new low of $90 per year; EU luxury brand Louis Vuitton rises to second place; Kate Spade falls to fourth place.
• Amazon continued to dominate as teens’ favorite e-commerce site, increasing to 52% from 50% in the spring.
• Teens spend 37 percent of their daily video viewing time on YouTube, ahead of Netflix (35 percent).
• Video games accounted for 9% of total teen spending, compared with 8% last year.
• Crocs reached its highest point ever as the seventh most preferred footwear brand, up from No. 13 last fall.
• Lululemon hit a new high, becoming the seventh largest apparel brand; Nike regained its position as the number one apparel and footwear brand.
• For the third time in a row, Instagram remains the most frequently visited social media platform among teens.
• Teens care about social and political issues, citing the environment, immigration and gun control as the three most important ones.

199IT.com Originally compiled from: Piper. Please do not reprint without authorization