Piper Sandler Teen Survey 2025: Teens & Economic Uncertainty

• Teens’ Spending Declines: As of 2025, 62% of American teenagers believe the economy is getting worse. Teens’ self-reported annual spending has dropped to $2,213, representing a 6% year-on-year decline and a 1% average decline over the past decade. The downward trajectory from $2,419 in 2023 to $2,263 in 2024, and $2,213 in 2025, demonstrates consistent cutbacks in teenage discretionary spending as economic concerns mount.
  
  
• Appetite for Budget: Teens’ preference for affordability is clear in the beauty sector. Although beauty remains their top splurge category – see the 2024 Piper Sandler Teen Survey – annual spending has dropped by 2% to $336 in 2025. Teens are opting for budget-friendly brands, like e.l.f (US), named favourite by 36% – likely due to its accessible pricing amidst economic uncertainty.
  
  A similar pattern appears in handbags: 43% of teens favour American label Coach, an aspirational yet relatively affordable luxury brand (prices range from $70 to $950). See how young aspiring luxury consumers are seeking ways to buy high-end products for less in 10 Youth Trends 26/27.
  
  
• Spending Screen Time: In 2024, American Gen Zers averaged seven hours, 22 minutes and 43 seconds of daily screen use – a 3.5% increase from 2023 (DCDX, 2024). According to Piper Sandler, TikTok continues to be the favourite social media app for 46% of teens, followed by Instagram (31%) and Snapchat (14%). For long-form video, Netflix leads, with 30% of teens watching daily, closely followed by YouTube (27%). Despite this, some young consumers are pushing back on always-online lives by choosing to hand-write notes at university, not posting on social media platforms and seeking real-life places to socialise.

See 10 Youth Trends to Watch 26/27 for more on young consumers’ attitudes.