According to JWT Advertising teens ages 13-19 (74%) are still receiving the same allowance as they did a year ago, which averages US$ 20.70 per week. Some 14% are receiving more and some 13% are receiving less.
The new economic climate has pushed recession-related concerns such as landing a good job, having to give up favored items, and their parent’s financial situation, over typical teen-issues such as popularity, doing well in school and their level of attractiviness.
The study also shows teens’ opinions favoring brands that provide a better value: Gap over American Eagle (56% vs. 44%), Nike over Reebock (71% vs. 29%) and Sony Playstation over the Wii (50% vs. 29%). Kids are communicating more as well. More than seven in 10 teens (71%) have spoken with their parents about the recession, 60% have spoken with teachers and 37% have discussed the economic climate with friends.
There are however certain amenities teens are loath to give up in light of the recession:
- Internet connection (90%)
- Cell phone (73%)
- New clothing purchase (72%)
- Cable/satellite TV (66%)
- Texting friends (65%)