- Piper Jaffray surveyed 6,000 teens across the US to find out how they are spending their money.
- Overall, teen spending was up 2% this year compared to the previous year.
- Athletic brands continued to dominate the apparel and footwear rankings, with Nike coming in first place.
Teen shoppers are big business for retailers.
According to Piper Jaffray’s semi-annual survey of teen spending habits, released in April, Gen X is responsible for 7% of retail sales in the US. In the past year, their spending increased 2%.
These younger consumers are driving change in retail – the report showed that, overall, teens are spending more on food than anything else, shopping online, and continuing to drive growth in athletic wear.
The survey was done of 6,000 teens across the US, with an average age of 16. Here are their 10 most popular apparel brands:
Despite filing for bankruptcy in 2017 and being saddled with debt, teen retailer Rue21 is still winning over the hearts of teen shoppers. It was ranked in fifth place overall for female shoppers.
PacSun also filed for bankruptcy in 2016, but it still remains popular among teens. Continuing to attract young customers will likely put it on the path toward long-term stability.
However, it’s still the world’s second-largest retailer (after Zara’s parent company Inditex) and has nearly 700 stores in the US, which means it’s reaching a ton of teens.
7. Ralph Lauren
Ralph Lauren fell out of the top 10 apparel brands for male teens from a higher-income household (meaning they earn over $US100,000) for the first time. Meanwhile, Tommy Hilfiger has gained market share.
This lower-priced and beach-friendly brand has been a bright spot for its parent company, Abercrombie & Fitch, in recent years. Since the third quarter of the fiscal year 2016, its same-store sales have grown from flat to positive.
5. Victoria’s Secret
3. Forever 21
Fast-fashion retailer Forever 21 continues to hold a prime spot on the list of teens’ favourite brands. The store is known for its trendy and cheap designs, many of which draw inspiration from designers and the runway. In the past, it has frequently been accused of crossing the line between being inspired by a designer and copying the item entirely.
2. American Eagle
It reported record same-store sales growth for the fourth quarter of 2017 in March, marking its 15 quarter of consecutive growth.
Though its popularity among teens has slipped in the past few years, Nike remains their top choice by a significant margin, with over double the market share of second-place American Eagle. That being said, the growth of Adidas has the company on edge.
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