Brands still have plenty of time to reach teens this holiday season

87% of teens say they’ll wait until after Thanksgiving to start shopping for gifts

Brands still have plenty of time to reach teens this holiday season

SAN FRANCISCO – November 19, 2020 – For many U.S. consumers, preparing for the holiday season has been a welcomed distraction from the coronavirus pandemic. In fact, the National Retail Federation reported that nearly half (42%) of consumers planned to start their holiday shopping by the end of October. Teens, however, are waiting much longer to get started.

According to a new survey from Step, the modern-day financial services company built for teens and families, only 13% of teens plan to start their holiday shopping early. The majority cite deal-hunting, a lack of savings and school-related stress as their motivations for shopping later in the season.

  • 43% are holding out for Black Friday and Cyber Monday deals;

  • 31% are still saving up and plan to shop in December; and

  • 13% are busy with school and plan to shop at the last minute.

43% of teens
31% of teens
13% of teens

72% of teens
48% of teens
36% of teens

CJ MacDonald
We hope Step can help alleviate some of teens’ holiday stress by making it easier for them to shop online and track their spending in real-time.

Gift doodles 1
Gift breakdown stats
Gift doodles 2

  • Step is a financial technology company not a bank Banking services provided by Evolve Bank Trust Member FDIC The Step Visa Card is issued by Evolve Bank Trust pursuant to a license from Visa USA Inc Visa is a registered trademark of Visa International Service Association

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