Teen and tweeneconomics: a study into the teenage and tweenage
pound in Britain: chapter 2. (Click here to request a copy from
the OU Author. It’s approaching sixty years since the term
‘teenager’ was coined in the UK. O2 Money and LSE have worked in
partnership to create a research report into youth spending,
with an insightful look into the spending habits of 7-15 years
olds across the UK. Spending by young people has continued to
rise despite drops in parental disposable income. For the first
time, the spending power of Britain’s young people has increased
during a recession. The average young person will spend over
£6,000 between the ages of seven and fifteen, which equates to
spending of £10.27 per week for seven to ten year-olds and an
average of £15.25 per week for those aged between 11 and 15. In
total, young people are worth £4.89 billion to the British
economy each year – twice the value of the UK toy industry. The
spending power of young people has continued to increase
significantly beyond the rat