Teenagers buy more clothes. Nike remains the best brand
For American teens, pumping up their post-pandemic wardrobes is their top priority, according to a new survey from Piper Sandler. It is the first time since 2014 that clothing is the number one concern of teens.
Piper’s biannual survey covers 10,000 teens in 44 states. This has long been crucial in discerning teenage preferences for tech products, retailers, cosmetics, restaurants, and more. Twenty-two percent of survey respondents said they spent money on clothes. The food was # 2 at 21%.
Clothing remained more important for survey respondents. Twenty-nine percent of women and 16% of men see clothing as a priority. Even for men, it was the second most important expense category after food.
Spending on clothing increased 5% year-on-year, according to the survey. Women, in particular, were spending near pre-pandemic levels. Women’s fashion spending increased 14% from last year. High-income teenage girls spent an average of $ 1,124 on clothes, shoes and accessories.
was listed as the favorite teen ecommerce site, garnering 52% portfolio share. Despite the teenagers’ love for
online shopping has fallen to 20% of respondents, down from 22% last fall when more pandemic restrictions were in place. Specialty retail was the most important purchasing channel. Thirty percent of teens bought clothes from specific stores.
remained the # 1 clothing brand for male and female teens for the 11th grade. It captured 27% of teens, the same number as the last poll. The runner-up American Eagle lags far behind, with just 7% of teens saying it is their favorite brand. PacSun, Adidas and
is also in the top five brands, with 5% of teens preferring them.
American Eagle’s business model is geared towards this specific demographic. The brand says it look for to “continue to dominate the 15-25-year-old lifestyle retail market.” Even though American Eagle posted record sales of $ 1.2 billion for its second quarter and consistently good results, the stock has fallen in recent months. It plunged a further 4% on Tuesday.
(ticker: NKE) topped the Piper Sandler rankings for favorite shoes. It was 57% of teens’ favorite shoe brand, taking substantial shares from Vans (11%) and
(9%), who finished second and third respectively.
For Nike, Gen Z is already a key part of the company’s strategy, tailoring brand campaigns “very close to where the Gen Z consumer is,” said CEO John Donahoe during a call for first quarter results in August. Nike stock was up on Tuesday, advancing 1.6%.
jumped to its highest ranking ever in sixth place in what Piper Sandler analyst Erinn Murphy called an “impressive” jump from ninth place in last year’s survey. Teens have been an increasingly important demographic for the shoe producer in recent years. The stock has risen 66.6% in the past six months as the company has beaten earnings estimates.
Accessible luxury brands like Michael Kors,
Coach and Kate Spade were teen favorites for handbags and other accessories, according to the survey. It was a win for parent company Coach and Kate Spade
Handbag splurges rose to $ 96, up 10% year-over-year and reversing a multi-year low.
The results indicated that although women surveyed spent less on makeup and beauty brands, the number of teenage girls who put on makeup “every day” rose to 33% of those surveyed, an increase of 11%. ‘year after year. Analysts have calculated that people who wear makeup every day spend an average of $ 129 per year on cosmetics. Favorite brands included
and too much face.
For the men surveyed, spending on video games and systems comes third with 14% of respondents choosing it as a priority. Teens are expected to spend an average of $ 209 on video games in 2021, up from $ 227 last fall. Analysts believe the drop may be due to spending more time outdoors now that stay-at-home orders have mostly been lifted.
Write to Sabrina Escobar at [email protected]