Teens Get It

A person’s attitudes are shaped by his life experiences, so it shouldn’t come as a surprise that the mindset of today’s teens and young adults is being impacted by the nation’s economic pressures.

Though often characterized as narcissistic, there is a growing body of evidence to suggest that young millennials — those in their high school and early college years — have become more sensitive to the family budget and more receptive to the idea of deferring purchases and seeking out the best bargains.

At the 2009 Shop.org Annual Summit, Resource Interactive president and chief experience officer Kelly Mooney presented “Recession Rewired: Leaner Times Hit Home for Moms and Younger Millennials.” Pulling data points from RI’s qualitative and quantitative research (conducted in partnership with Shop.org, Sterling Commerce, BIGresearch, Harris Interactive and ExpoTV), Mooney made several key points.

For starters, teens are beginning to emulate their moms by using the Internet to shop for the best prices and checking online coupon sites before they click the “buy” button.

Last month, when my son hit me up for a pair of lacrosse cleats, there was no disguising my exasperation: I had just bought him a pair in June. This time he pleaded his case, explaining the difference in the way each grips a grass or turf surface, and when he sent me a link to the pair he had chosen he included a coupon code for 10 percent off. For someone who once thought money grew on trees, this was a breakthrough.

Another data point that struck me was the sustained power of brands among young people. While moms who took part in the research claim to have “traded down” when it comes to brands and shopping channels, teens remain loyal to the stores and brands they love. Still, while their desire for coveted brands is unyielding, they’re hitting the sales racks more often and buying fewer items than in the past.

I can attest to this one, too. My daughter sent me her “wish list” for her birthday. Every apparel item she listed is from Hot Topic’s “sale” site. I give her credit; she knows how to push my buttons.

Finally, Mooney presented several ideas intended to spark retailers to innovate their way out of the recession. One was adding a widget to e-commerce sites that would allow a shopper to input the amount of money she had to spend or the amount on a gift card. Using drop-down menus, she could request items or an outfit that would total that amount. The widget allows the shopper to stay within that budget by filtering out items which exceed it. To this I say, “Sign me up.”