Colorado Springs, Col. Teensâ€™ consumer confidence about holiday spending may provide an unexpected gift to retailers this year, according to Junior Achievementâ€™s 2008 Teen Holiday Spending poll. The survey found that more than three quarters of teens surveyed (76% ) plan to spend as muchâ€”or moreâ€”this year than last year on holiday gifts.
The 2008 Teen Holiday Spending Pollâ€™s other key findings revealed that 47% of teens surveyed said theyâ€™d spend at least $100 on gifts, a 4% increase over last year.
Of those who said theyâ€™d spend at least some money on holiday gifts, 87% said theyâ€™d use their own money, 49% said theyâ€™d use money given to them by a parent, 19% said theyâ€™d use their parentsâ€™ debit or credit card, and 16%Â said theyâ€™d use their own debit or credit card (multiple responses were permitted).
Among teens who said they would spend less this year or not spend any money on gifts, 71% said they were trying to save money, 48% cited concern about the state of the U.S. economy, and 41% cited a change in their familyâ€™s financial circumstances (multiple responses were permitted).