Teens’ Holiday Spending Power Could Bode Well for Retailers
Los Angeles, About 95% of teens choose shopping at stores and malls, over catalog and online, according to the “Teen Topix” study released by OTX (Online Testing eXchange), a global consumer research and consulting firm.
The survey also found that 65% of teens said they use the Internet to find out about new, cool products, and friends come in a close second at 62%. Meanwhile, about 54% of teens find out about new products from commercials on TV.
When asked about specific types of stores teens will shop at this holiday season, electronics (46%), bath/body (45%), and music stores (41%) led the way. Much lower on the list were store websites (13%), online stores (12%), auction sites (8%), and home-shopping channels (3%).
The study also found that holiday shopping remains a social experience as 84% of teens say they will shop with others, while 16% will shop alone, and 74% prefer to shop with their friends, vs. 26% who say they would rather shop with their parents.
"The shopping behavior and spending patterns of teens, especially during the holiday season, is of great interest to marketers and retailers," said Bruce Friend, president for media and entertainment insights for OTX. "As this study indicates, teens, like the rest of us, not only think in terms of products they want, but are well aware of and discriminating about the multitude of brands messaging directly to them."