“I know my mom was saying that we’re going to spend a little bit less this year,” said Katharine LaMantia, 16. “We’re each getting either one big gift or a couple of smaller gifts. And I’m not going to buy as many gifts for my friends because we’re trying to spend less than we did last year.”

Mr. Morris, who has led several retailing discussions with teenagers, said that unlike last holiday season, when the economic crisis was still new, teenagers now understood that nearly everyone was making sacrifices. “What we’re hearing more and more is that these teens are empathizing with their parents,” he said. “They’re more concerned.”

No major retailing chain has felt the effects of that concern as much as Abercrombie & Fitch, the pricey, preppy clothing purveyor that has turned in 19 consecutive months of same-store sales declines. Last month, its sales sank 17 percent.

Rachel Kaplan, 16, said the chain was once a top trendy destination. “Now I walk in there, it’s empty,” she said. “I think it’s because they charge $80 for a polo shirt.”

While Abercrombie is suffering, Aéropostale, the value-priced clothing chain for teenagers, has fared well in this economy, posting record monthly sales figures. Last month, same-store sales rose 7 percent.

“I don’t mind it because it’s kind of the same thing as Abercrombie and Hollister but a little cheaper,” said Bryan Dunn, 17, “so you’re not spending like $40 for a T-shirt.”

The students want low prices, but at the same time, they seem to be discovering the relationship between price and quality. “If a shirt costs $10 but then rips every month or so, that’s a lot of T-shirts,” Ms. Kaplan said. “It adds up. Whereas if you buy a shirt that costs like $30 but it doesn’t rip, you can have it for as long as you want to wear it.”