Clothing Store: You Broke Moneycom
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Expect to see more blank storefronts at your local mall that is if you even go to the mall anymore. Teen clothier Wet Seal announced this week that it will close 338 stores after years of slow sales. It’s just plain more difficult for them to get to the mall, oh, and young people day are less gonna have driver’s licenses or own cars than prior generations. Assuming they wanted to go there, for sure. Twenty years later, Cher’s counterpart’s default hangout may be at a fast casual restaurant or in the apartments in front of a screen of some sort. Among young people particularly, anywhere the mall, that has seen a drop in foot traffic across all age groups.
In line with the International Council of Shopping Centers, roughly 80 other malls have implemented similar policies. Like the one Ford City Mall announced this week, strict parental supervision policies, make it impossible for look for, faster than ever, they can also better capitalize on cuts and patterns that are trending well with teens. While meaning they can quickly adopt trends from the catwalk and rapidly bring them to a sales floor, stores like Zara, HM, and Forever 21, that have much shorter waits between when clothing is ordered and when it goes on sale than traditional teen retailers, can roll out new clothing options any week, not any season. Of course at identical time, sales are booming at shops like HM, Zara, and Forever The latter plans to double its number of stores in the next three years.
Clothing simply was not the p spending priority for teens it once was.
Nowadays, that figure has dropped to 21.
So if they got a cellphone in general, better a 2003 teen could hope for was a pink Motorola Razr. Teens in 2003 didn’t have the newest iPhone 6 and its accompanying data plan to pay for or selfie sticks to buy. Eventually, the point is that today’s teens and millennials should spend less on clothing and more on electronics and eating out at restaurants like Chipotle. Loads of info can be found easily by going online. In 2003, teens spent nearly 30 of their budgets on clothing.
Add in the fact that in 1990, about 3 million retail jobs were held by 16to19yearolds, VS about 1 million today.
They’re more going to shop there simply as a matter of convenience, when someone works at the mall.
Is not part of the fun of intending to a mall getting to annoy your working friend by unfolding all the shirts or pretending to be interested in smoothies so you can spy on your Jamba Juice crush? Fact, they’re less attached to brands and more willing to mix and match to create their own style, surveys by Nielsen, the Boston Consulting Group, and others have found. Anyway, thanks to social media especially the popularity of searching outfit of the day or OOTD posts on Instagram teens now can view hundreds of different products and looks to define what they need to buy and how to style it.
