While much has been made of athleisure’s hold on the market, among a certain group of teens sales of denim are on the rise.
Asset management firm Piper Jaffray Companies released their 32nd semi-annual “Taking Stock with Teens” research survey and found teens from high-income families are spending more on denim.
Overall, the survey showed that teen spending is down compared to 2015, but spending among upper-income teens increased by 2.5%. Piper Jaffray says that historically the results from the upper-income bracket generally lead overall spending.
Of the 10,000 teens surveyed in 46 states, the average age was 16.0 with an average household income of $68,000. Among the teen females from wealthy families, denim brands saw an increase to 19% aggregate mindshare and showed up as the top trend among high-income female teens for the second consecutive survey in a row.
When it came to where to shop, teens favored retailers that offered denim. With the exception of the survey’s top teen brand, Nike, four of the top teen brands all had significant denim offerings. American Eagle was the second most popular clothing brand among teens, followed by Forever 21, Ralph Lauren and Urban Outfitters.
For online shopping, Amazon was king among teens, with 40 percent listing the e-commerce giant as their number one shopping site. Amazon Prime subscriptions increased across all income brackets surveyed this year, with 58 percent of teens saying they have access to Amazon Prime in their households.
“While total spending among the teen demographic appears to be down slightly versus last year, we are encouraged that the upper-income teenagers in our survey are indicating more optimism and positive spending trends. This increase in spending among upper-income teens seems to be largely broad-based across fashion and beauty,” said Neely Tamminga, Piper Jaffray senior research analyst.