In the latest Taking Stock With Teens report, analysts at investment firm Piper Jaffray surveyed 5,500 teens with an average age of 16 and average household income of $66,100. They found two key trends. Sign up: Click here to subscribe to the Broadsheet , Fortunes daily newsletter on the worlds most powerful women. First, teen spending has been falling gradually since fall 2014; second, teens are shifting their spending toward experiences. Food is now the single largest category for teenagers wallets, accounting for 24% of their spending, followed by clothing, which accounts for 19%. Ten years ago, the exact opposite was the case, with teens spending the larger share on clothes. The clear winners here are Starbucks, which has remained teens top restaurant choice for at the least the last seven years, and Chick-fil-A, which has recently leapfrogged Chipotle, McDonalds and Olive Garden among the favorite eateries. Teens are increasingly showing a preference for limited-service restaurants, versus full-service eateries like Olive Garden-a trend that goes back to at least spring 2009, Piper Jaffrays analysts noted. Not surprisingly, time spent at the mall has been declining, whereas online shopping has been growing, with Amazon now ranking as teens top online retailer. Nike remains the favorite clothing brand, with American Eagle and Forever 21 next in line.
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Huh / Associated Press) David Ng , Hugo Martin and Samantha Masunaga Contact Reporters Delta, American and United airlines claim the right to eject fliers for smelling bad. JetBlue Airways can remove passengers who wear revealing clothing. Southwest has been accused of kicking off customers for being too fat to fit in a seat. Airlines grant themselves all sorts of power over who can be removed from a flight, embedded in the fine print that passengers agree to when they click confirm to purchase an airline ticket. These contracts of carriage or conditions of carriage often go well beyond standard rules such as the prohibition against tampering with smoke detectors in airplane lavatories. But in light of the incident this week in which a United Airlines passenger was dragged off a sold-out flight , to the shock of his fellow passengers and millions watching it on video, passenger advocates say airlines seating policies may now get closer scrutiny. LA 90: United Airlines incident Here's United Airlines' latest PR nightmare. (April 11, 2017) Here's United Airlines' latest PR nightmare. (April 11, 2017) See more videos Most carriage contracts are largely one-sided benefiting the carriers only, said Kevin Mitchell, who heads the Business Travel Coalition, an advocacy group for business fliers. They are unfair because the majority of passengers fly only once a year, and they can't comprehend all the legalese in the contracts. Each airline has its own specific customer agreement, which often exceeds 50 pages in length. The wording can be vague and open to interpretation.
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