Recent figures from Abercrombie & Fitch suggest that teens are “invincible” shoppers, and they are already starting to return to shopping, with the company’s recovery doing better than predicted.
According to Abercrombie & Fitch, which also owns Hollister and Gilly Hicks lingerie brands, the company’s sales are going back to around 80 percent of what they were one year ago in the United States. This is a sharp contrast to Macy’s, which reported a few weeks ago that its department stores that recently reopened have sales down by around 50 percent.
The return to sales was also a sharp contrast to the previous quarter when Abercrombie & Fitch reported a more than 30 percent decline in sales due to the coronavirus pandemic.
Keep in mind that so far, the retailer has reopened 285 locations, which is about 45 percent of stores in the United States.
Hollister has also remained connected with consumers, via events such as its virtual prom that more than 70,000 teens attended and its use of TikTok.
SW Retail Advisors president, Stacey Wilditz, referred to the relevant shoppers as “invincible teen consumers.” According to Wilditz, these shoppers seem not just willing but also eager to go back to shopping in the physical world.
What It Means
These figures indicate that younger consumers will likely have a quick rebound to their previous shopping habits as stores continue to reopen across the country. The major difference between the figures released by Abercrombie & Fitch and those from Macy’s comes from the demographics.
Some experts say that teens may feel more willing to spend compared to older generations. Additionally, many of them are out of school for the summer or spending less time with online school than they would in a physical school. These teens are looking for activities with friends. Additionally, their younger age may make them more comfortable with the idea of shopping, due to the lower risk to their age group.
According to Abercrombie & Fitch, shoppers in the United States seem to be returning to malls more quickly than those in portions of Asia.
Mall-based Retailers Are Doing Well
Abercrombie & Fitch is not the only store to be doing better than experts predicted. J Rogers Kniffen WWE consulting group’s CEO, Jan Kniffen, was expecting sales volumes of 25 to 30 percent for Abercrombie & Fitch and other mall-based retailers upon reopening, compared to normal volumes. In reality, they are closer to 55 percent.
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