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Study: Teen spending out of fashion


MINNEAPOLIS Teen spending in fashion declined 24%, according to a recent Piper Jaffray study. The survey found that spending decreases were most common among young women where spending was down 18%, as compared to a decline of 9% for young men.

Despite the drop in spending, the survey found that fashion is still important to teens.

"The fashion category still represents 42% of the total teen budget for the fall 2007 season despite moderation in spending habits," said Jeff Klinefelter, senior retail research analyst at Piper Jaffray. "However, we found that spending expectations remain largely unchanged, as nearly 50% of the students plan to spend the same amount of money on apparel this season. We believe the discrepancy between budget dollars and expectations may be due to a decline in contributions from parents."

Of the places where teens prefer to spend their money, Hollister topped the list for the sixth consecutive time, followed by West Coast Brands, American Eagle, Abercrombie & Fitch and Forever 21.

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