Frugality is new trend in teen shopping

With the downturn in the economy exacerbated by rising unemployment, the financial sector meltdown and stock market volatility, consumers' confidence has hit rock bottom and their desire to spend is in a freeze mode. And with this happening just on the verge of retailers' critical holiday shopping season, some industry analysts predict this will be the worst season in at least 17 years.

The consumer "has changed," said Bob Shearer, chief financial officer of the top U.S. apparel company VF Corp. , in an interview. "It really didn't matter what income level you were. Consumers just become much more cautious. We are seeing that softening across the board."

One of the most telling signs about the widespread crack in the traditionally resilient consumer confidence can be found in the changing behavior of teens, a usually recession-proof demographic.

They also are going out and eating out less and said they are limiting the number of items they purchase as their part-time hours are cut back and parents are giving them less spending money. Teen retailers such as American Eagle Outfitters Inc. and Abercrombie & Fitch Co. have reported double-digit declines in sales at stores open at least a year.

"They've been cutting back on my hours," said 18-year-old William Restrepo from Jackson Heights, N.Y., referring to his delivery job. "I was out every day in the past. Now two or three times a week. No more. As soon as you are out, you are going to spend money."

The younger tween set, typically those between 8 and 12 who rely on their parents, also are learning their lessons.

"My mom goes straight to the sale racks" at Abercrombie and Hollister, said nine-year-old Tracy Imhof from Astoria, shopping at the Queens mall with her friend and mom.

She also received a new rule: If it's something that her mother thinks is frivolous, the money will have to come out of her pocket money.

"How many Abercrombie sweatshirts can she have?" said Susan McManus, Tracy's mother and a 51-year old nurse from Sunnyside, N.Y. "I tell her 'let's try to buy something that we really need.' I'm starting to worry. In the past, I usually pay for everything if she brings a friend, but not any more."



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