Dealer Data: Teen Buying Power
In its latest survey, the Consumer Electronics Association found the average U.S. household owns 25 CE products, while the average American adult, who owns about 15 distinct CE products, spent $1,197 on CE products in the last 12 months.
This won’t come as a surprise to any retailer who has recently dealt face to face with a teenager, but that customer set has a big influence on the CE products that are sold in their homes, the report states. The average adult with a teen in the home spent $1,752 on CE products in the last year, more than $500 more than the national average. While retailers can cheer that fact, and some parents can weep what it does to their wallets, the survey also found that teens spend a big portion of their own money on the products. Out of the $730 the average teen has to spend, $352 of that, or 48 percent, goes to CE gear.