A young prospective buyer walked out of the Forever 21 with nothing but a pair of pants in her yellow shopping bag. Her friend left empty-handed, as well. At the peak of what is usually a must time for back-to-school clothes shopping, these high school students feel no pressure to update their wardrobes for the first day of class.
“I want to wait and see if there’s anything new coming out during the year,” they both said. “It doesn’t make sense to buy everything now.”
This is a huge statement coming from young consumers …..
A number of consumer researchers say these young teens, are not the only teens forgoing the tradition of August back-to-school shopping. They are spreading out their apparel spending for a good reason.
Why are these young consumers doing this??
There are a number of factors, including the rise of chains like H&M and Zara, the so-called fast fashion retailers that sell inexpensive clothing and turn over their inventories rapidly to stay on trend, are contributing to this New Shopping Trend.
Trend-savvy teens have always roamed the malls year-round looking for deals. They have learned well from their parents how to shop. When typically the bulk of their school clothes were bought in August; now are delaying those purchases to stay up to date on the latest fashion trends.
Wow! What a concept … hold your money, wait for the next latest trend, if you like you buy it now ….if not, in a month or two another trend will appear ….
These teens stay up to date via the Web, which provides style-savvy shoppers with instant access to latest fashion shows, news, celebrity trends, etc.
Hey, let’s wait and see if there’s anything new coming out!!!
There is an outdated idea that we’re buying everything at once, just like we did 20 years ago. Not true!
Here come the Stats:
The National Retail Federation, which tracks shopping trends and habits, is predicting a 14 percent rise in back-to-school spending in 2012 for both K-12 and college students.
That increase encompasses both clothing and school supplies. A 2011 survey conducted by the NRF and the market research company BIGinsight found that back-to-school spending averaged $603.63 per child.
For 2012 that number is expected to rise to $688.62 per child. Combined kindergarten through college spending is expected to reach $83.8 billion this year.
Wow, were they wrong!!!
Teens and Young adults want to be able to buy today what they saw online last week.
Those retailers that have adapted are quickly expanding such as Zara, H&M, and Forever 21 — commonly referred to as purveyors of fast fashion. They have helped to alter the shopping landscape. The Swedish chain H&M, which has 10 locations in Massachusetts, reported plans earlier this year to open 275 stores globally, bringing its numbers to more than 2,500 stores in 44 countries.
Stores like H&M are successful with teens because they respond rapidly to trends.
Retailers buy smaller batches of clothing, so inventory is constantly changing with trends. For example say, red shirts are suddenly the rage, they can be available to the consumer quickly. By this method stores encourage repeat business to trend-conscious teens to shop year-round.
Because of these fast change in Trends; for example, Zara and stores like it: have an average of 17 visits by consumers per year, compared to only a handful per year at the Gap.
So, next time you are shopping …. Do not feel pressured to buy…. Wait, because another trend will appear very soon …..