US' Nike maintains lead in teen footwear preference: Survey

The survey also highlighted a 1 per cent decrease in overall teen footwear spending compared to the previous year. This downturn was primarily driven by a 3 per cent drop in spending among average income teens. However, this was partially offset by a 5 per cent increase in spending from upper-income teens.

Significantly, upper-income female teens reported a sharp 12 per cent decline in fashion spending YoY, with decreases noted across the board: apparel spending down 13 per cent, shoe expenditures dropping by 3 per cent, and accessories spend plummeting by 21 per cent, as per the survey.

New Balance gained the most footwear mindshare year over year, signalling a growing preference for the brand among teens. Meanwhile, Lululemon retained its position as the second most popular athletic apparel brand among upper-income teens, and notably, it was the top choice among female upper-income teens.

Furthermore, the survey revealed a 6 per cent decline in overall teen ‘self-reported’ spending to $2,263, though it noted a slight 1 per cent increase from last fall. Parent contributions remained steady, accounting for 62 per cent of total spending.

“Our survey results indicate a slight increase in teen spending sequentially from fall 2023, but self-reported spend is down 6 per cent year-over-year, well below pre-pandemic levels. We are seeing some significant shifts in brand preferences including the rise of smaller, innovative brands which are taking share from incumbents. We think social media has led to an accelerated trend cycle including an increased emphasis on key products, and brands will have to be nimble to keep up,” said Abbie Zvejnieks, senior research analyst at Piper Sandler.

Fibre2Fashion News Desk (DP)