The memories of us hanging out with friends and families without the
constant fear of getting sick seems so far away. Over the last two years, we’ve experienced things we’ve never thought would happen outside sci-fi movies!
Even if now that everything is somehow back to normal, we can obviously see that it’s not the old normal! Without a doubt, Covid-19 has significantly altered our lifestyle and the way we spend money.
Our experts in YounGo Money have gathered an article on how Covid-19 has altered kids’ and teenagers’ spending habits. Buckle up to see the post-Covid spending habits change
Table of Contents
The General Covid-19 Changes!
When it comes to kids and teenagers, the first picture that comes to mind is their excessive use of tablets, computers, social media, etc.
There’s no need to mention how challenging the first year of Covid-19 was for parents. The inner struggles they had is undeniable. The whole idea of new living situations due to the Covid was even terrifying for them as adults.
Despite that fear, they have to explain to their kids how life-threatening it is for them to visit their friends, go to school, and socialize.
As you know, the pandemic led to vital changes in kids’ and teenagers’ spending habits, lives, and the most obvious one is the non-stop use of social media and digital devices. I think you can guess what this matter has to do with the economy and shopping.
Read more on the effects of Covid-19 on teenagers mental health here.
Covid-19 and Spending Money
It’s easy to comprehend that having lots of free time and not much to do, you’ll eventually run out of social media channels and notifications to check.
That will lead to surfing in online marketplaces and even adding items you don’t need to your cart.
But what makes shopping more interesting for teens? Let’s find out!
Why Do Teenagers Shop More than Others?
Believe it or not, in the UK, children spend almost half of their pocket money in stores!
The percentage is even higher when it comes to girls.
- Shopping Brings Joy: When we put together how teenagers feel about shopping and what experts believe, we can easily understand that purchasing what you like makes you feel happy.
- It’s not Just about shopping: It’s impossible not to see the excitement of a group of teenagers in a mall on a Saturday afternoon. They get together, try out dresses and shoes and maybe grab a bite. As a result, the process of shopping is, in fact, a ritual for teenagers to have fun in their own ways.
Now that you can better understand the reasons why teenagers like to shop and spend most of their earnings and pocket money on it let’s see how Covid-19 affected it.
Teenagers’ Spending Habits during the Covid-19
Fashion:
You might think due to the lockdown fashion purchase has experienced a decline. Well, here’s the surprise, it hasn’t!
Teenagers like to express themselves so much and fashion is the best way to do it. That’s why even staying at home couldn’t stop them from purchasing those items.
According to studies, there has been an almost 8% increase in fashion sales during Covid-19.
We can also look at it from a different angle. We’ve read many articles dedicated to the growing anxiety in teenagers during the Covid-19 lockdowns, it is also safe to say that they are more hopeful than others.
That can be another solid reason why they keep purchasing new dresses or shoes. Maybe they believe they’ll return to school as soon as possible or spend more time with their friends.
Tech
Buying tech items have an eye-catching increase during Covid-19. Almost everything has moved online, from school to even ballet dancing classes. Obviously, to attend the classes or to keep in touch with friends,
teenagers’ demand for tablets, laptops, etc., has risen.
The 15% rise in tech sales can testify to this fact.
Beauty Products: Millions of beauty influencers are now taking over almost all social media platforms, talking about hair and skin routines or teaching new make-up tricks. As we’ve mentioned earlier, teenagers spend a significant amount of time on TikTok, YouTube, Instagram, etc. Being surrounded by all of these attractive tutorials and having a lot of free time at home can end up in a 32% increase in buying beauty products during Covid-19.
Health and Fitness:
We can all remember the times when we’ve decided to look in shape and healthy after the end of the lockdowns. That was when we saw a 17% rise in spending money on fitness tools or health products.
Teenagers’ Spending Habits after Covid-19
Fashion
Teenagers like to express themselves so much and fashion is the best way to do it. That’s why even staying at home couldn’t stop them from purchasing those items.
According to studies, there has been an almost 8% increase in fashion sales during Covid-19.
We can also look at it from a different angle. We’ve read many articles dedicated to the growing anxiety in teenagers during the Covid-19 lockdowns, it is also safe to say that they are more hopeful than others.
That can be another solid reason why they keep purchasing new dresses or shoes. Maybe they believe they’ll return to school as soon as possible or spend more time with their friends.
Tech
Buying tech items have an eye-catching increase during Covid-19. Almost everything has moved online, from school to even ballet dancing classes. Obviously, to attend the classes or to keep in touch with friends,
teenagers’ demand for tablets, laptops, etc., has risen.
The 15% rise in tech sales can testify to this fact.
Beauty Products: Millions of beauty influencers are now taking over almost all social media platforms, talking about hair and skin routines or teaching new make-up tricks. As we’ve mentioned earlier, teenagers spend a significant amount of time on TikTok, YouTube, Instagram, etc. Being surrounded by all of these attractive tutorials and having a lot of free time at home can end up in a 32% increase in buying beauty products during Covid-19.
Health and Fitness:
We can all remember the times when we’ve decided to look in shape and healthy after the end of the lockdowns. That was when we saw a 17% rise in spending money on fitness tools or health products.
Teenagers’ Spending Habits after Covid-19
After the end of lockdowns, all of us and, mostly, teenagers can happily get back to our favourite stores. Many of us still prefer to shop online, but we can’t ignore all the fun outdoor shopping has.
According to what teenagers expect, they believe they will spend more on clothes and accessories once they go out shopping after Covid-19. Let’s take a look at the numbers to see which items teenagers were more attracted to after the Covid-19 lockdown.
- Clothes and Accessories: on the top of the list, there are clothes and accessories (it seems like they were right!)
- Going to the Concerts and Cinema: It’s not surprising! Being on your own for that long time leaves you with nothing but the tendency to socialize more than before and have fun with your friends in crowded places like concerts.
- Domestic Travels: Based on the studies, the spending on domestic travel has raised significantly after the Covid-19 lockdowns.
A decline in Purchase!
You may find it interesting that the streaming companies witnessed a decline in their sales after lockdowns. The number of people still wanting to stay at home and watch watching movies and series all the time is not that many!
The YounGo Money Marketplace
As we’ve discussed here, children and teenagers are now shopping online more than ever. One of the biggest concerns parents have is for their kids to purchase items that are not proper for their age. That’s why YounGo Money Marketplace is here to save the day!
Using this special section in our app, you can easily let your kids shop as all the items in our marketplace are age-limited.
Wrap Up
Covid-19 and lockdowns haven’t been easy for any of us. It has changed the way we live, dress, eat, and shop. It’s vital for parents to know if their teenagers are spending more than necessary on specific items due to the effects of Covid-19.
Tell us about your experiences in the comment section.
