In perhaps one of the most unexpected consequences of the coronavirus pandemic, spending among America’s teens has plummeted to a record low, according to analysts at Piper Sandler. In its latest semi-annual survey of U.S. teens they found that teen spending fell to a record low, down 5% from the spring and 9% from last year. In retrospect, the result shouldn’t be a total surprise given that malls (and their retailers), movie theaters, and coffee shops - the main benefactors of teen dollars - have been closed much of the year. The latest reading eclipses the previous survey low recorded in the fall of 2011. (Chart: Piper Sandler)
Teen Spending
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October 12, 2020