Case scenario: Staying Alive in a Dead Holiday Season
For many retailers, fiscal success boils down to one and only one period of the year—the Christmas selling season. And for the overwhelming majority of U.S. retailers, 2008 was a terrible year. Sure, some retailers did okay, but these few companies tended to be discounters and membership stores, such as Wal-Mart and BJ's Wholesale Club.
The only other exception appears to be retailers who cater to the teen and young adult markets. For example, while November 2008 sales (compared to November 2007 sales) were down 5 percent at Aeropostale, down 10 percent at the GAP, and down 17.5 percent at Kohl's, sales at the teenage retailer Hot Topic were up 6.5 percent, up 6 percent at American Apparel, and up 15 percent at Buckle. American Apparel, for example, targets "young, single, urban creative-types accustomed to living on a shoestring." Hot Topic's November success is due in part to the "brisk sales of gear inspired by 'Twilight,' the teenage vampire movie."
QUESTION:
Based on what you read about age subcultures in Chapter, explain why stores catering to teens and young adults did well during the 2008 holiday selling season?