Retailers to Promote Women's Clothing and Cosmetics to Gen Z
"32% of teens think the economy is worsening, up from 25% who thought the same last fall, according to a Piper Jaffray survey of American teenagers, reports Retail Dive."
"Teenagers' spending decreased by 4% year-over-year and 10% sequentially to $2,400, which is the lowest level since 2011, the survey found."
"Among female teens, the majority preferred spending their money on clothing, the survey found. Piper Jaffray's research also notes that 91% of female teens like to shop in-store versus online for their beauty buys, and 89% of them also find new beauty brands through influencers. However, the survey also noted that cosmetics spending was down more than 20% from last year."
"'The two most challenged categories were handbags and cosmetics as females reprioritize their spending with eating out and footwear/apparel,' Erinn Murphy, Piper Jaffray senior research analyst, said in a statement."
"Piper Jaffray's report also illustrates Lululemon and Amazon's continued sway with Gen Z. Per the firm's research, Lululemon peaked this year as the 7th preferred activewear brand among Gen Z compared to number 11 last fall. And preppy brands like Ralph Lauren and Vineyard Vines continue to lose share to athletic brands, with Piper Jaffray noting that 36% of the preferred apparel brands fall within the sportswear category (up from 34% last year)."
Members of Generation Z are also heavily influenced by digital advertisements and deals. Last year, this demographic was motivated to action by either mobile smartphone ads or text ads (55.6%), email ads (46.8%) and ads on daily deals sites such as Groupon (43.1%), according to AudienceSCAN. They're also 26% more likely than others to click on text link ads on websites and 18% more likely to find ads on social media useful. Within the last month, 34.5% of these shoppers have used the internet to find coupons or discount codes, and 48.5% say that their favorite emails to get from businesses contain coupons or discount codes.
AudienceSCAN data is available for your applications and dashboards through the SalesFuel API. In addition, AdMall contains industry profiles on casual clothing stores and quick-serve, fast-casual and full-service restaurants, as well as lead lists at the local level. Media companies, sales reps and agencies can access this data with a subscription to AdMall from SalesFuel.