Japanese Teens Spending Less on Fashion
There’s an interesting article in today’s WWD about the spending habits of Japanese teenagers. The piece brings up several interesting points, most of them implying negative trends for the Japanese fashion industry. (Unless, that is, you happen to be a lower priced “fast fashion” brand like H&M or Forever 21.)
The first part of the article discusses how the economy has taken money out of the pockets of Japanese teens by lowering the amount of allowance that their parents can afford to give them each month. You could call it trickle down economics – the kind that hurts!
Another point is made by the head of the company which owns the popular gal fashion brands Moussy and Sly. He says that it’s not just the economy but a changing culture that is hurting the youth fashion market. His theory is that young Japanese spend less time outside socializing than previous generations. Why? Because the current generation has many more options for entertainment – including the internet, television, video games, etc. If you don’t leave your house as often as you would have in the past, you don’t need as much expensive clothing.
The article also mentions Uniqlo’s new store in Shibuya, which is designed to be hip enough to attract the young Japanese shoppers who are into H&M and Forever 21. There’s a lot packed into the article, so we suggest that you get over to WWD and read the whole thing.