With teens spending $179 billion in 2006–up 13 percent over the year before–retailers are growing increasingly enamored with youth and their oodles of uncommitted cash.
According to Scott Krugman, spokesman with the National Retail Federation, teens “have a tremendous amount of spending power. Retailers recognize this, and they’d be foolish not to market to them.”
Teenage girls spend about 57 percent of their money on clothes and makeup. Teen boys tend to diversify a bit more, spending 27 percent of their cash on clothes, 20 percent on CDs, DVDs and the like, and 16 percent on food. (Gannett News Service)
