Piper Jaffray’s survey of spending trends among 9,500 American teens shows that spending is down, casualwear is up, and European luxury brands account for 30% of mindshare among preferred handbag brands.

The investment banking firm's 38th semi-annual Taking Stock With Teens survey questioned teens (with an average age of 15.8 years) across 42 states. According to the firm, so-called Generation Z contributes approximately $830 billion to US retail sales annually, making it an influential consumer group where wallet size and allocation provide a proxy for category interest.

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