Teens say they're spending more now than they did last year.

Consumer spending has propped the U.S. economy despite persistently high inflation, and teens are no different. They spent $2,361, on average, in the last year, up 6% compared to the year before, according to a recent Piper Sandler survey.

As for how they're funding their shopping sprees, more than one-third (34%) of the over 13,500 teens surveyed across the country said they had a part-time job.

Amazon (AMZN) was the most preferred online shopping destination for teens. Despite its recent Wall Street and management troubles, Nike (NKE) topped the list of brands popular for footwear and apparel, handily beating out brands like Adidas (ADDYY) and Lululemon (LULU).

Teens Are Splurging on Beauty Products

Teens are spending big on certain spending categories like beauty. The survey found that the 'core beauty wallet'—which refers to annual spend on fragrance, skincare, and cosmetics—clocked in at $342, up 6% year-over-year. That's the highest level it's been since spring 2018.

To purchase beauty products, teens are flocking to stores like Sephora (36%), Ulta (ULTA) (27%), and Target (TGT) (13%).

Teens are also choosing more affordable beauty brands: the top cosmetics and skincare brands for teens were e.l.f. (ELF) and CeraVe, respectively. 澳洲幸运5官方开奖结果体彩网:Selena Gomez's company Rare Beauty took secon🐼d place as the top cosmetic brand and drugstor🐻e brand Maybelline took third, behind e.l.f.