Nike increases its market share, while Adidas drops back to No. 5 in popularity and its worst result for the German brand in four years.
Nike remains the most popular and sought-after brand among teens in the U.S., according to Piper Sandler's annual Taking Stock with Teens survey. The American Eagles brand is second in the rankings, while Nike's main competitor, German brand Adidas, dropped to No. 5, its worst result in four years.
Generation Z, addicted to TikTok and Instagram and focused on influencers of fashion and beauty brands, is slowly returning to active shopping after a pause in 2020 caused by the pandemic and restrictions. Teens are ready to hit the streets, shop, and socialize again, analysts say.
Online brands Shein and Princess Polly and popular brands Poshmark and Depop are also rapidly gaining popularity in the United States. Youth brands Hollister and Urban Outfitters also remain on the list of favorites.
According to the latest report, teens will spend an average of $2,165 in 2021, down 5% from a year earlier but up 1% from last fall, when Generation Z consumers fell to a twenty-year low, according to the latest report. By comparison, it peaked in the spring of 2006, surpassing the $3,000 mark.
Experts note that on average, teenagers in the U.S. today spend $508 per person per year on clothing, 3% behind last year. In the past twelve months, girls' spending on clothing has increased by 9%, and boys' spending has decreased by 16%.
Top trends in the market include the high popularity of leggings (especially those sold by Lululemon), while baggy-effect pants and so-called "mom jeans" also increase demand.
In the footwear segment, teens spend an average of $270 a year, down 5 percent from last year. Nike continues to increase its market share, while Crocs rises from 12th to eighth in the rankings thanks to its collaboration with Justin Bieber.
On the Internet, Amazon remains the most popular shopping site for teens, with 56% of respondents citing it as the best site to shop for everything from books to electronics. Shein, Princess Polly, Lululemon, and Nike are also at the top of the list, writes CNBC.
8 APRIL 2021, USA