Fast food, fast fashion, video games. Generation Alpha, those born since mid-2010, truly deserves the definition of Fast Generationas demonstrated by the data on their “pocket money”, on the consumption recorded by the first Barometer report, edited by Pixpay, a leading French startup in the teen banking sector, created to provide young people with a cutting-edge payment tool and to educate them financially .
The survey analyzed the habits of children and parents regarding pocket money, children’s expenses and the way they manage money. In particular, over 500 thousand transactions were considered, carried out by users in the period of the last school year, inclusive between September 2023 and June 2024.
Among the consumption of girls, in the first three places are the brands Shein, McDonald’s and AppleWhile kids prefer McDonald’s, Apple and Playstation. In the top ten of the girls, Deliveroo is in fourth place, followed by Amazon, Subdued, Tezenis, Uber, Zara and Vinted. The kids confirm themselves as “gamers”: fourth place is occupied by Google, followed by Deliveroo, Amazon, Vinted, Shein, Steam Games, Burger King.
Ultimately, pocket money is spent (value data) mainly on food (40%)of which 16% in restaurants, 13% in supermarkets or grocery stores and 11% in fast food outlets. Then follow the purchases for clothes and accessories (21%) and those in beauty and well-being (6%)equal to those in culture, entertainment and media (including books, with a percentage of just under 3%).
Transactions take place both with the paper, the use of which is growingboth through smartphones (in June they accounted for 45% of total payments); girls use Apple Pay and Google Pay more frequently than boys. Italian teenagers make on average 4 card payments per month with an average transaction amount of 12.25 euros. In detail, approximately 2 transactions in the 10-12 year range, 4 transactions in the 12-14 year range, 5 transactions in the 14-16 year range and 5.5 transactions in the 16-18 year range. It should be noted that 30% of purchases by boys, more oriented towards the world of gaming, are made online, while for girls only 18%.
As for savings, only 11% of young people manage to save, accumulating a “treasure” of 96 euroson average, from September 2023 to June 2024. In Italy, boys save on average more than girls: 108 euros versus 85.
According to the Barometer, 41% of children receive a regular allowanceweekly or monthly. Among them, 60% receive it monthly and 40% weekly. Generally the average scheduled pocket money is 35 euros for 10-12 year olds, 43 for 13-14 year olds, 58 for 15-16 year olds up to 76 for 17-18 year olds.
Also adding the punctual top-ups, the average amount increases for all age groups and goes from 45 euros for 10-12 year olds, up to 125 per month for 17-18 year olds with significant peaks in the months of June, September and December .
Source: Vanity Fair
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