Retailers, consumers and prices
Check out tough times for job-seeking teens.
Outplacement firm Challenger, Gray & Christmas said teens looking for a summer job will need to dedicate themselves full-time to the search, meaning getting a full-time job will be a full-time job. While many employers have filled summer positions, some may need more than expected while others delayed hiring until summer business conditions became clearer, Challenger CEO John Challenger said.
“The point is, you never know if or when a job opening is going to materialize, so you want to keep pushing,” he said in a statement.
Earlier this spring, the Challenger firm predicted an improved summer hiring outlook for teens compared with last year, when employment among 16- to 19-year-olds grew by less than 1.2 million jobs from May through July.
“It is unlikely that summer employment gains among teens will reach pre-recession levels, but we should definitely see increased hiring compared to 2008 and 2009, which experienced the weakest summer teen job growth since the 1950s,” Challenger said.
As retailers tried to attract consumers for some post-Labor Day shopping, apparel retailers Aeropostale and Charlotte Russe beat Gap Inc’s Old Navy chain in the pricing war this month, according to Eric Beder, associate director of research for Brean Murray Carret & Co.
While Aeropostale has “never looked better” with its combination of good merchandise and prices, Arden B owner Wet Seal remains the “low price leader,” Beder said.
Ah, youth. How free and easy it all seems. Especially after the launch of a new payments system, BillMyParents.
The system geared to teens and tweens — who ideally have good relationships with their hopefully indulgent parents — allows parents to approve purchases coveted by their kids and foot the bill.
Check Out the sinking economy creeping into the lives of some of the most resilient shoppers — teenagers, whose need for fashion and fun often trandscends economic downturns.
Rising prices are forcing teens to cut back spending as their parents face mounting gas and food costs, declining home values and a credit crunch, according to a WSL Strategic Retail survey.