'A lot of brands from the '90s have come back' among teens
The ’90s are coming back, according to a Piper Jaffray survey on teen trends.
“A lot of brands from the ’90s have come back,” Piper Jaffray’s Senior Research Analyst Erinn Murphy told Yahoo Finance’s Final Round on Monday. “So whether it’s Tommy Hilfiger [$TOM], whether Adidas, whether it’s even brands like Champion. So you’re seeing a very strong brand cycle right now. That was a big surprise. And I think that can continue.”
‘Skincare spending was up 5%’
Teen spending is up 1% since last year, mainly on video games and food, the report found.
Spending on accessories fell to an all-time low — previously a category of great importance to female teens — as they started spending more on beauty products.
“The female teen spends three times more on beauty than they do on accessories, just to kind of contextualize it,” Murphy explained. “When you look at what’s been happening in the category, you’re seeing a resurgence of skin care. So skin care spending was up 5% year on year, which I think is very important, because it’s habit forming.”
Young women are heading to specialty multi-stores like Sephora and Ulta for their beauty products, while avoiding department stores.
That’s consistent with the report’s findings that mall visits are “significantly” below the peak. Instead, teens are headed to Amazon to do most of their shopping.
“So the question that we asked was: ‘What is your favorite website to purchase from,’” Murphy explained. “And Amazon, to your point, number one, 47% of teens. The next closest website teens cited was Nike, at 5% share.”
“So just to put that in perspective, it is head and shoulders above the rest.”
Kristin Myers is a reporter at Yahoo Finance. Follow her on Twitter.
Read more: American teens are liking Facebook less and less
Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and reddit.