MONDAY READS: Gen Z’s Influence on the Streetwear Market

 

Written by: Amelia Hoge

Streetwear labels have continued to steadily grow in popularity and according to a recent survey by investment bank Piper Jaffray, this is partially fueled by the demand brought on by younger generations. The report indicates that teens are currently flocking towards streetwear labels while slowely backing away from retailers that missed the bus (and are now struggling to catch up).

Piper Jaffray surveys over 6,000 teens twice a year, looking at things like spending patterns, fashion and technology trends, and brand and media preferences. Among the brand preferences, streetwear has experienced the largest gains, with Vans leading the way in footwear, and Supreme leading the way in apparel. Other streetwear labels that were on the rise in the rankings were Adidas, Gucci, Tommy Hilfiger, and Champion.

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Photo source: Left, Right

While some brands like Vans and Adidas continue to rise, it has been at the expense of other brands, such as Nike, who experienced a 31% decrease in just one year. One of the main factors that Erinn Murphy, senior research analyst at Piper Jaffray and co-author of the report highlighted, is that Vans and Adidas both have an “open-source” system, meaning they utilize pop culture as guides and influences on how they position and market their products. In a previous Monday Reads article on Adidas, I go into more detail about how open source has contributed to the company’s success. Be sure to check it out!

Another factor to the rise in preferences for brands such as Gucci, Tommy Hilfiger, and Champion, is the revival of their 1990’s “logo mania” aesthetic. These brands heavily feature their logos on merchandise, and a lot of teens are fully embracing this revival. Other brands that aren’t as heavily “logo-centric” have experienced decreases. One big example of this is Ralph Lauren, which moved out of the top-10 brand list for male teens for the first time in 16 years.

What do you think of the survey’s top preferred brands? Comment below–we would love to hear from you!

Thanks for reading this week’s Monday Reads. See you next week!

Sincerely,
National Retail Federation Student Association @ FIT

 


Reference:

Business of Fashion (April 10 2018): Streetwear Reigns Supreme, Say Teens

Featured photo source

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