OMG, We're Lagging Indicators!

Mon, 21 Apr 2008 13:45:42 +0000

Via the AP, it seems that thrift is finally catching on in the Under-20 crowd:

NEW YORK - 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 allowances are feeling the economic pinch.

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's even becoming cool to be frugal.

Better late than never, I suppose. Read the whole thing for examples of how teens are tightening their designer belts.