- 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:
10. Rue21
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.
9. PacSun
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.
8. H&M
H&M has come under scrutiny recently, being accused of failing to stay on top of trends and losing out to more fashionable rivals such as Zara and ASOS.
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.
See the rest of the story at INSIDER
0 Comments