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Teen Buying Spree

If your retail apparel business caters to teenagers, keep your inventory stocked. A 2004 survey of teen spending habits by Piper Jaffray & Co. of Minneapolis shows that youngsters and their parents are opening their wallets.

According to the survey, total spending on fashion products (apparel, shoes and accessories) increased by 3.4 percent to $1,447 per student annually on a year-over-year basis. In addition, spending on fashion products by male students increased 11.6 percent as compared to spring 2003. Female students increased spending 9 percent year-over-year on fashion products. Parents have increased the amount of money that they spend on apparel for their teens by 59 percent as compared to spring 2003.

Pay-Per-Click

Don’t let your competitors steal customers with pay-per-click (PPC) advertising. Instead, develop a strategy to include PPC in your marketing mix. If you don’t, your small business could get left behind.

A recent survey of small-business advertisers conducted by The Kelsey Group and ConStat, Inc. reveals that pay-per-click (PPC) advertising is capturing a significant percentage of promotional dollars among small enterprises. Small-business PPC advertisers currently allocate on average 23 percent of their total advertising budget to PPC activities. More than half plan to increase PPC activities next year. And 56 percent of survey respondents believe that PPC will be an important advertising method for their company in the future.

 

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