Although I’m not a parent, my oldest nephew soon will be a teenager. At this age, it can be hard to know what they’re thinking, so when Piper Jaffray released its 34th annual Taking Stock With Teens survey, I was curious to see the results.
The survey analyzed the spending trends and brand preferences among 6,100 teens with an average age of 16 years old and from 44 U.S. states. Often targeted by brands because of their available disposable income, teenagers’ overall spending decreased 4.4 percent year-over-year, but parent contribution to teen spending was 67 percent, just one point below the long-term average of 68 percent, the investment bank and asset management firm reports.