Breaking News

Teenage Spending Curbed By Economy

November 11, 2005

Teens’ overall spending dropped 20% last year, according to NPD Fashionworld Consumer, Port Washington, NY. Experts said teens generally account for 16% of all apparel sales, and teen retailers’ third quarter results are expected to fall 5%. Reasons for the decline range from a lack of newness to lack of money, which may be caused tighter family budgets or fewer babysitting jobs. Other experts say teens are price savvy, and due to the saturation of the market, they now shop value outlets.

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