Families that might cut back on expensive vacations are unwilling to deny their teens a few extra dollars to buy a t-shirt with the logo of their favorite heartthrob on it. Teens tend to be very fashion-conscious and want to keep up with the latest brands and images like their friends. Parents think little of cutting out going out to eat but do not want their teens to be social pariahs at this critical, special time in their young lives. Particularly during the holiday season, families are determined to make the memory of the year 'special' for their children. It could also be argued that it is more difficult for families with teens to cut back on buying clothing and other items because teens are outgrowing their clothes.

While this may explain teen buying habits, it is also noteworthy that stores that catered to young adults -- single, urban creative-types accustomed to living on a shoestring -- did very well, too, during the 2008 holiday season. But once again, these are individuals with few family obligations or investments. Given that they are used to being relatively poor and scraping by from month-to-month, this consumer demographic experienced little real change in their income status. Also, this category of buyers often has a...

They are a particularly coveted demographic by advertisers and marketers because they are more willing to spend their incomes on new products (their brand loyalties and buying habits are in flux) and have fewer 'necessary' obligations such as a mortgage or daycare. "Retailers strain to reach gen-Yers…because of their number (at 84 million people, they're the largest age group in America) and spending power ($200 billion annually)" (Rockwood 2009). A young person working at a creative job living with friends in an apartment in the city is more apt to consider a Twilight t-shirt a necessity than a young couple with two children trying to eke out a middle-class existence in the suburbs.
References

Brown, A. (2012). Retail stores in worst slump since 2008 recession. Forbes.

http://www.forbes.com/sites/abrambrown/2012/07/16/four-year-slump-in-retail-sales-signal-worried-u-s-consumer/

Rockwood, K. (2009). How Hot Topic's culture-heavy strategy helped it sizzle during the downturn. Fast Company. Retrieved:

http://www.smartbutton.com/2011/02/how-hot-topics-culture-heavy-strategy-helped-it-sizzle-during-the-downturn