Total US teen spending on fashion-related items increased by 2% on a year-over-year basis and 6% sequentially,? according to the fall 2009 “Taking Stock With Teens” survey from Piper Jaffray, which was conducted both in American schools and online. This increase represents a notable improvement from the 14% decline reported this spring.
Results from the 18th semi-annual study, which provides insight into the purchasing behavior and brand preferences among teens, indicate that young women’s spending in the junior apparel category has increased 7%, though it has decreased 1% for footwear and 10% for accessories.
Spending by young men on apparel has increased 1% while spending on footwear increased 7%, the study found.
“We believe the fashion industry is in the early stages of a new cycle with traffic and conversion gradually improving as teenage consumers look to replenish key items in their wardrobes after under-spending on the category over the past three years,”? said Jeff Klinefelter, the senior research analyst who headed up the study.
Other findings from the survey, broken out by spending category:
Klinefelter also noted that, in addition to? year-over-year and sequential increases in fashion budgets,? other spending trends such as shopping frequency improved vs. spring and fall of 2008.
Parent Spending Increases
As part of the study, Piper Jaffray also surveyed parents, and found that parent spending on themselves and their teen increased sequentially and year-over-year. Apparel spending by parents for teens was $1,141 compared with $915 in spring 2009 and $1,085 in? fall 2008.
Parents indicated that annual spending on their own apparel increased 66% sequentially and 33% year-over-year, shifting toward specialty and value retailing. When shopping for themselves, parents say they prefer retailers Macy’s, Kohl’s, and Nordstrom. When shopping for their teen, parents choose American Eagle Outfitters, Kohl’s, Nordstrom, and Hollister, the study found.
About the survey: The survey is conducted for PiperJaffray by? Klinefelter and a collaborative team of research analysts. This spring, the team visited 12 cities across the US, surveying approximately 1,200 students who were, on average, 16.3 years old. In partnership with DECA (an international association of high school students), Piper Jaffray captured online survey responses from an additional 10,000 students with an average age of 16.2 years.