Shopping Clearance Sales–Topline Results from Label Networks
Tis the season to shop for the Holidays, but when it comes to youth culture in North America, there are some significant changes in patterns based on the economic climate, changes in perceptions of value, and what is now fashionable among 13-25-year-olds.
Based on a series of questions to a representative sample of thousands of young people from 40 different locations, Label Networks has uncovered that one of the most significant changes in spending is the increase across the board among all age groups that are planning to shop more for Clearance Sales starting now and within the next 3 months peaking at 39.1%. Obviously one reason for this is because most young people have less money, however usually among 13-18-year-olds, shopping clearance wasn’t as important because parents usually contributed to shopping expenditures. As many young people explained however, shopping clearance or waiting for sales is the smartest thing to do right now, and spreading the word of the discounts you scored is a sign of cred among friends (whether you can actually afford to pay full price or not).
In addition, shopping online such as direct from brand websites and Ebay are higher among older demographics, primarily 21-25-year-olds at 22.7%, followed by 18-20-year-olds at 21.7%. What interesting about the results to this question, are that males are far more likely now and within the next 3 months to shop direct from brand sites than females at 23.6% of males saying More compared with 16.4% of females. This marks an opportunity in terms of knowing where young males are looking to next in terms of changes in their shopping patterns.
Discount Store Preferences Chart by Gender by Label Networks
For females on the other hand, primary favorite locations are Discount Stores such as Target and Wal-Mart at 39.8% saying More compared with only 29.2% of males, followed by fast-fashion chains such as H&M and Forever 21 at 35.5% of young females saying they plan to shop there now and More in the next 3 months compared with only 9.1% of males.
Ironically, while shopping Vintage/Thrift has increased tremendously in the last 4 years especially as a preferred location for shopping among youth culture based on prices and the ability to create different era DIY styles, this is one location that the marketplace does not plan to shop at More overall. Percentages are still fairly high for shopping at such locations, but the top percentages for all age groups and by gender are that they will shop at such locations the “Same” as before. And among males, it’s actually decreasing.
Discount Store Preferences by Age Groups indicate correlation that older demographics are shopping here more and plan to in the next 3 months.
Other interesting changes to note in terms of future shopping patterns is that the direct correlation of older demographics turning to discount stores in terms of shopping there More -not only for apparel, but electronics, home d?cor, and other things, and the increase in older demographics preferring to shop on their cell phones.
For more information about Shopping Patterns changes including more detailed charts and graphs, email info@labelnetworks.com; (323) 630-4000.
Fast-fashion Preferences by Gender indicate that Females are far more likely to shop here now and in the next 3 months than males.
