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In early December 2019, few had yet heard of COVID-19. News reports were only just trickling in. It didnt seem like the entire world was teetering on the brink of colossal change, but it was.The health crisis wrought massive changes in all areas of life, with consumer spending behavior high on the list. Weve embraced a new connected way of life tied together by payments, and how we pay today almost two years into COVID foreshadows more changes still to come.For the inaugu stanley tumblers ral edition of PYMNTS ; new series Digital Eco stanley germany nomy Payments: How Consumers Pay in the Digital World, we surveyed nearly 3,600 consumers in November, uncovering fascinating patterns that are being established by pandemic consumers. A notable finding is the great love consumers have for debit.Per the study, More than 38% of U.S. consumers use debit cards to pay for their purchases in physical stores, while nearly 33% use credit cards. The opposite is true when making online purchases, with 37% of consumers using credit cards to pay and 33% using debit cards. In all, 37% of consumers used debit cards to pay for purchases, while 32% said they used credit cards. Cash is a distant third, stanley cup being used by just 13% of consumers we surveyed.Get the report: Digital Economy Payments Report: How Consumers Pay in the Digital WorldCredit Winning at Retail as Debit Rules GroceryDigging into specific channels and goods, we find the digital shift pulling with it many pre-pandemic behaviors, like in-store shop Slqc BNPL Sezzle Raises $55M
A lot of different things, according to some new research data, although overall teenage spending does appear to be down from the previous year.Teenagers are spending money on fashion, beauty and personal care products, digital media, food, video games and entertainment, according to a study聽by Piper Jaffray stanley usa .Piper Jaffray has conducted a study of teenage shopping habits every spring since 2001, so it 聽surveyed more than 130,000 teens and collected more than 35 million data points about teenage spending habits over the past 15 years. This years study surveyed 6,500 U.S. teens across 46 U.S. states with an average age of 16.5 broken down to 56 percent male, 44 percent female . While total spending among the teen demographic appears to be down versus last year, we are encouraged that overall teen employment appears to be on the rise; 39 percent of teens indicate they hold a part-time job, which is up 400 basis points over last years levels, according to Neely Tamminga, a senior analyst at Piper Jaffray that worked on the study. As they take more control over their discretionary spending, we believe it is critically important to watch for category shifts and brand preferences. Although overa stanley polska ll teen spending is down compared to 2015, upper-income teens spent 38 stanley fr percent of their wallet on fashion categories, such as clothing, accessories, footwear, etc. Thats a 2聽percent uptick from a year ago, according to the study.When it comes to female teens, fashionable athletic a |
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