MarketWatch.com: Hark! This is the one, very expensive gift teenagers want for Christmas
Some American teenagers want cryptocurrency and Fortnite “V-Bucks” virtual currency instead of cash.
You might want the same thing as your child this holiday season.
Some U.S. holiday wish lists crisscross all generations and some, well, don’t. Analyst firm Piper Jaffray said the No. 1 item on U.S. teenagers’ wish list this holiday season is Apple’s AAPL, +2.05% iPhone. In fact, their top four consumer brands — Apple Watch, MacBooks and Airpods — all come in those iconic white boxes with the apple symbol.
These brands were followed by Gucci PPRUY, -0.17% Vans, Adidas ADDYY, +0.49% and Lululemon LULU, +1.00% and something perhaps many parents have not even heard of, NBA 2k19, a basketball simulation video game. Apple accounted for 11.5% of teens’ wish lists. The next closest brand, Gucci, accounted for just 0.6%.
iPhones are a powerful status symbol for both children and adults. iPhone owners are 21 times more likely to judge others negatively for having an Android, according to a 2017 survey of 5,500 singletons aged 18 and over by dating site Match.com. iPhone users typically earn higher incomes than Android users.
It may make sense that teens and their parents like the same gadgets. Today’s teens are the products of a hands-on style of parenting, one that involves 24/7 online monitoring and more involvement in their education. Plus, the iPhone is probably the world’s biggest blockbuster device, sought after by all generations of a family.
There is some upside to parents and children being connected by cellphone and on social media. Demographers say that such tighter-knit parenting can have an impact on how these teenagers will perceive the world as they become adults. They’ll be more likely to be realistic about their future and to embrace change and, through their smartphones, keep in closer contact with their parents.
For the first time, teenagers said they wanted cryptocurrency like Bitcoin BTCUSD, +1.26% and Fortnite “V-Bucks” virtual currency instead of cash, gift cards and gas money, according to the “Holiday 2018” consumer report released this month by investment bank and asset management firm Piper Jaffray.
Like many virtual currencies, V-Bucks doesn’t always feel like real money. Fortnite players can buy 1,000 of the V-bucks virtual currency for $9.99. They can use it to purchase items while they’re playing the wildly popular video game, including the “Battle Pass” for 950 V-bucks, and outfits and “skins” for their characters for between 500 and 2,000 V-Bucks.
Fortnite is a multi-player, third-person shooter game for mobile devices, personal computers and gaming consoles. It’s free, but upgrades within the game cost money. The video game has grossed more than $300 million on Apple’s iOS since it was launched on that system in March, leading to some parental experts to caution that the game can be addictive.
Get a daily roundup of the top reads in personal finance delivered to your inbox. Subscribe to MarketWatch’s free Personal Finance Daily newsletter. Sign up here.
Content courtesy of MarketWatch published on , original article here.