According to ElectricNews.net, teenagers are starting to spend more of their money on technology and less on clothes:

Mobile phones, MP3 players and hand-held computer devices continue to threaten the traditional hold of the clothing industry on spending in the youth market. Younger consumers are seen as the largest growth segment for the wireless industry based on data supplied by Simmons Market Research Bureau.

Older teenagers are driving an exponential increase in text messaging volumes and Packaged Facts estimates the youth market has a spending power of USD485 billion. "Marketers should note that women in the 15 to 24 age group are more likely to use a computer and more likely to own a mobile phone and use it for text messaging," Don Montuori, Packaged Facts acquisitions editor said.

...via Smart Mobs