Nike increases market share, while Adidas falls back to 5th in popularity.
Nike remains the most popular and in-demand brand among US teens, according to Piper Sandler's annual "Taking Stock with Teens" survey. The second place in the ranking is occupied by the American Eagles brand, while Nike's main competitor is German brand Adidas dropped to 5th place, its worst result in four years.
Gen Z, addicted to TikTok and Instagram and targeting fashion and beauty brand influencers, is gradually returning to active shopping after a pause in 2020 caused by the pandemic and restrictions. Teenagers are ready to take to the streets again, shop and socialize, analysts say.
The online brands Shein and Princess Polly, as well as the democratic brands Poshmark and Depop, are rapidly gaining popularity. Youth brands also remain on the list of favorites Hollister, Urban Outfitters.
Teens will spend an average of $2,165 in 2021, according to the latest report, which is 5% less than a year ago but 1% more than last fall, when Gen Z consumer spending hit a twenty-year low. In comparison, peak values were reached in the spring of 2006, exceeding the $3,000 mark.
Experts note that the average cost of clothing among teenagers in the US today is $508 per person per year, which is 3% behind last year. Over the past twelve months, girls' spending on clothing has increased by 9%, while that of boys has decreased by 16%.
Among the main trends in the market, there is a high popularity of leggings (especially those that sells Lululemon), while baggy-effect trousers and so-called “mom jeans” are also in high demand.
In footwear, teen spending averages $270 a year, down 5% from last year. Nike continues to increase its market share while Crocs climbs from 12th to 8th in the rankings thanks to a collaboration with Justin Bieber.
On the internet, Amazon remains the most popular shopping site for teens, with 56% respondents calling it the best site for shopping from books to electronics. The leaders are also online stores Shein, Princess Polly, Lululemon and Nike, writes CNBC.