Teens seek luxury items for back-to-school wardrobes
NEW YORK - Before Claire Stern goes back to school as a high school senior this fall, she needs a new tote. But not just any bag will do.
Claire Stern looks at a selection of Tory Burch shoes at a Neiman Marcus store.
"I want a tote bag by Jaye Hersh that the celebrities are wearing, they're called Market Bags," said Stern, 17, who lives in Bronxville, New York. "It's more stylish than a backpack."
The bags retail for more than $100 if they're monogrammed and Stern has noticed actresses Reese Witherspoon and Jessica Alba wearing them.
Shopping for back-to-school apparel is a late summer ritual. But as tweens and teens become increasingly savvy about fashion, they're asking for luxury products, such as $200 designer handbags and $100-plus jeans.
Industry trade group The International Council of Shopping Centers expects back-to-school sales will grow 5 percent in 2007 to $27 billion.
Mid-tier and discount retailers have been facing pressure this year, as consumers cut down on extra expenses to battle rising gas prices and a sagging housing market. Wal-Mart Stores Inc. earlier this month, for example, cut prices on more than 16,000 items in a bid to turn around sales for the critical back-to-school season.
Meanwhile, the luxury market is booming. Sales worldwide topped $150 billion last year.
Teens are playing an increasing part in that, according to experts, as Web sites, tabloids and TV shows detailing celebrities and fashion make kids more aware of and demanding for luxury goods than ever before.
"They're prime candidates for luxury," said Gerald Celente, publisher of Trends Journal, a newsletter that tracks a wide range of trends. "Their world is the entertainment world and that's what they're focused into."
Jacqueline Nasser, ELLEgirl Fashion Market Editor, said teens take a cue from shows like "Laguna Beach," "The O.C.," "The Hills" and "My Super Sweet 16" that portray a certain lifestyle.
"They have been surrounded by celebrities and TV programs where fashion is the central point," she said. "They even have younger celebrities in the ads for designer labels -- Scarlett Johansson for Louis Vuitton, Lindsay Lohan for Jill Stuart, etc." InStyle: Make stars' styles your own
Lydia Stover, 16, said she regularly studies celebrity magazines such as People for fashion inspiration and cites Nicole Richie as someone whose style she admires.
Stover, who will be going into 11th grade at Kingston High School in Kingston, New York, saved up $200 dollars for a Coach bag and covets a Gaucho-style bag for fall.