The one thing that kids care more about than what they wear is where they eat. According to Piper Jaffray’s biannual Taking Stock With Teens 2018 study, teens are spending more money on food than on clothing.
Today’s teens, called Generation Z, have surpassed millennials as the largest group of American customers, making them an ideal target for advertising.
In 2016, Gen Z-ers spent about $78 billion in restaurants alone. Depending on their family’s income bracket, teens spend between 21 to 24 per cent of their available cash on food, compared to 19 to 20 per cent on clothing.
“Food remains the single largest category of spend within the teen wallet,” wrote analyst Nicole Miller Regan.
These purchases add up over time and can prevent people from reaching other, more important financial goals. Using tools, such as BBC's avocado toast index, is a great way to visualize the long term cost of short term purchases.
Besides the financial aspect of eating out, there's also the health impacts. According to a report by the FDA, the larger portion sizes served in restaurants, combined with the atmosphere and effects of alcohol, can contribute to overeating.
Learning to cook at home not only saves money, but your waistline.