April 24, 2008 3:59 PM
Teens going thrifty too
From the Washington Times, Apr 23, 2008:
It's hip to be thrifty By Anne D'Innocenzio- NEW YORK (AP) The souring job market and rising costs of the usual teenage indulgences — a slice of pizza, a drive to the mall, the hottest new jeans — are causing teens to do something they rarely do: be thrifty.
It's a far cry from the freewheeling spending of recent years, when teens splurged on $100 Coach wristlet handbags, $60 Juicy Couture T-shirts and $80 skinny jeans from Abercrombie & Fitch.
Now jobs for teens are less plentiful, and parents who supply the allowances are feeling the economic pinch themselves.
The stalwart retailers of teen apparel, such as Abercrombie and American Eagle Outfitters Inc., are reporting sluggish sales, defying the myth that teen spending is recession-proof: It holds up longer, but eventually can fold.
It's even becoming cool to be frugal.
Read entire article here.
Posted in Current Affairs, Teens and Tweens | Permalink
