Vintage shops, clothing swapping parties, garage sales and flea markets have also become popular, the survey said, as fashionistas seek unique, as opposed to designer, pieces that are cheaper and seen as more authentic.
Also as a counter to the recession, the vibrant colors and edgier styles of the 80s are also becoming in vogue, it added.
Appel said the survey was likely to be representative of youth in other Western nations as "they are ultimately driven by the same things -- their love for music, fashion, travel, sport and entertainment."
"The GFC is just that, global, so I would suggest that young people in other countries would also be affected in similar ways," he said.
Because of the economic situation, many Gen-Yers are opting to entertain at home rather than go to nightclubs. But if they do go out, the poll said they preferred to go to cabarets, vaudeville shows and disco nights which are considered exotic.
And while Gen-Yers still rely heavily on technology, they are using it differently, with the amount of time spent online by young adults falling by 30 minutes a week from last year.
Gen-Yers are also in contact more frequently with friends through phone calls, SMSes or emails, at the same time as questioning their addiction to social networking sites.
"They (young people) want more connections with their friends that aren't digital, that are tangible. They're starting to question the authenticity of social networks such as Facebook and Twitter," Appel added.