Teen spending falls as worries about the economy grow. When they splurge, it's Nike and Chick-fil-A
Teens are spending less than in the spring, and at this time last year, according to Piper Jaffray's 38th biannual "Taking Stock with Teens" report.Favorite brands include: Chick-fil-A and Starbucks for restaurants and Nike and American Eagle Outfitters for apparel.
Figuring out exactly what teens want is always a difficult task, perhaps even harder now, because teens are spending less than in the spring, and at this time last year. As market watchers and economists debate whether U.S. growth is slowing and a recession is near, teens are pulling back spending. According to the results, teen spending is down 4% this year compared to last fall, and down 10% from the spring survey.
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