Teens are estimated to contribute around $830 billion to U.S. retail sales, good for about 7 percent of the total. So it comes as no surprise that their spending habits are analyzed as retailers attempt to win that market for themselves.
Piper Jaffray’s latest biannual survey studied the consumer behaviour of 6,100 teens, including fashion.
While teens are turning away from athletic apparel in favor of street styles, footwear shows no signs of slowing down as teens continue to buy more and more new shoes.
Nike is still the top dog when it comes to apparel and footwear, however its competitors are gaining ground, with adidas doubling its popularity as a footwear brand and American Eagle the second most popular brand overall, increasing its share from last year.
Supreme, fresh off selling a stake to the Carlyle Group, has cracked the top ten for the first time. Ralph Lauren was also one of the biggest losers, losing places for both upper-income and average-income teens.
49 percent of teens questioned for the survey say that Amazon is their preferred online retailer, while Nike is a distant second and American Eagle third.
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