Nike leads US teen market in apparel and footwear sector: Piper Sandler

Nike continues to dominate the youth market in the US, according to the latest key findings from Piper Sandler Companies’ 46th semi-annual Taking Stock With Teens survey for fall 2023. The athletic apparel giant remains the favourite brand among American teens in both the apparel and footwear categories, capturing 35 per cent and 61 per cent mindshare respectively.

Interestingly, the survey revealed a 1 per cent year-on-year decline in teen ‘self-reported’ spending, dropping to $2,316. This marks the first such decrease in teen spending recorded by this survey since before the Covid-19 pandemic struck.

As economic concerns loom, inflation has now become the second biggest social issue on teenagers’ minds, registering at 9 per cent among the surveyed group, as per the survey.

The survey also highlighted a gender-specific divergence in spending trends. While males led the spending increase, favouring brands like Nike, Lululemon Athletica, and American Eagle Outfitters, female spending witnessed a downturn, specifically in apparel and footwear. However, this drop was partially offset by increased spending on accessories.

“Our survey points to initial signs of a slowdown in teen spending. Inflation reached its highest mindshare in terms of political and social issues, right behind the environment,” said Edward Yruma, senior research analyst.