Answer: 45%

Here's a video that explores the brain science behind why we love brands (from NGPF Video Library) 

Questions:

• With what purchases do brands matter most to you? All purchases, only some or none at all? 
• What are your favorite brands? Can you explain what you think these brands say about you? 
• Why do you think that teens, in particular, tend to have the strongest affinity to brands? 
• Optional: What are two takeaways you got from watching the video? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (from Piper Jaffrey Teen Survey Fall 2018): 

• Brands matter – 45% of teens say “brand” is most important in making a purchase vs. 33% (six years ago)
• 1990s and streetwear styles continue to grow with Tommy Hilfiger, Supreme, CK and Champion – and even luxury brands including Off-White, Balenciaga and Gucci. 

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Looking for more behavioral finance resources? Here's a bunch we have curated on the NGPF Blog. 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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