Teens are not impervious or oblivious to the economic times we're facing. Not only do they hear parents stress about it at home and see the writing on the wall everywhere they go, but, surprisingly, it also forces them to cut back and reassess their spending habits, adopting a new class consciousness to fit with the troubled times. After all, it's a bit difficult to live like the characters in Gossip Girl when your parents no longer have the expendable income to lavish. It could be a bit socially off-putting to sport expensive clothing and accessories while sitting next to a friend whose father was just laid off. I strongly believe that teens do have a sensitivity to income gaps, especially when the tough financial situations of others are hammered home time and time again in the news.- A blog post from The Huffington Post a few months back argues that the recession may be good for teens, and encourages them to shop for clothes and vintage clothing shops. As a vintage clothing fan myself, I heartily concur!
- An article from Business Wire explores teen spending and brand loyalty during recessions. Fashion spending was down a full twenty percent last year!
- The youth marketers at Ypulse explore the bright side of being a tween during the recession. Could the "spoiled" stigma that hangs over my generation fade for the current one?
And lesson #1 - volunteering is always a recession-proof summer job!
