The recession has turned American teenage shoppers, one of the US’s most powerful spending groups, into penny pinchers, hurting higher-priced teen shops, while other stores that feature “non labels”, sales and deep discounts are benefiting from this change. According to the New York Times: “This spring, spending by teenagers, a closely studied but rarely understood segment of the population, is off by 14%, a direct reflection of the economy, according to a report this month by the investment bank Piper Jaffray.” The evidence is more than statistical, “‘Labels are becoming less and less of a priority for people throughout my school,’ said Chelsea Orcutt, a high school senior.
Popularity: 5% [?]
