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Recession impacting teen spending
April 26, 2009
Advertising Age: Typicallly during a recession, teens can usually be counted on to keep spending. But research from Piper Jaffray finds that teens are spending about 14 percent less this spring compared to 2008. The unemployment rate for those ages 16 to 19 years old also is rising, hitting nearly 22 percent in March compared to the national average of 8.5 percent. As a result, they are cutting back spending on apparel, beauty and food as well as excursions to movies, concerts and sporting events.
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