Reuters reports that teenagers have focused their spending cuts on clothes, games and food, according to a survey by social networking site Habbo Hotel. [ad#black]
The survey of 61,000 teenagers across 30 countries showed:
- 33% of teenager now gets less money from their parents
- 50% of youngsters getting less to spend in the United States, Spain and Latin America.
- 19 percent of youngsters globally say the recession has most hurt their spending on console and computer games — the industry for which teenagers are a key client group.
WPP estimate that Teens’ annual spending power in the United States is $176 billion and in Brazil its $43 billion.
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