Teen Spending Drops as Inflation Worries Rise

Teens are spending less, with self-reported spending down 1% year-over-year and 4% since spring per Piper Sandler survey.

Inflation is a top concern for teens, ranking second behind the environment as their primary worry.

Teens are relying more on parents, with parent contributions up as teen spending falls.

Females saw a bigger drop in spending than males, cutting back especially on apparel.

Holiday spending expected to be more promotional this year as consumers hunt for deals amid high inflation.