Piper Sandler 48th semi-annual Taking Stock With Teens survey has established that Nike is the number one brand for teenagers in apparel and footwear. But there has been a sharp drop among females, 48 percent this fall compared to 56 percent same season a year ago. The upper-income cohort also recorded an 11-point Y/Y.
New Balance came in at number three and improved considerably with eight percent. Lululemon is also at number three but lost four points of mindshare among the upper-income teens. As for Amazon, the e-commerce giant ranked number one among the upper-income teens as the top shopping platform.
Teens are fascinated with the beauty category. Cosmetics, as per the survey, continue to have the highest share of beauty spending, and fragrance is also catching up – growing at 25 percent year-over-year. As for technology and social media, teens love TikTok, second comes Instagram, and Snapchat is at third. Moreover, 87 percent of teens own an iPhone and nearly 30 percent of teens are keen to upgrade their Apple hardware in the next six months. And for OTT, Netflix is their go-to top choice for daily video consumption.
When it comes to fast food, Chick-fil-A is their preferred chain restaurant, McDonald’s comes in second, and Chipotle Mexican Grill at third. Furthermore, the survey highlighted that teens prefer energy drinks over coffee and soda – with the top four drinks being Monster Beverage, Red Bull, Celsius, and Alani Nu.
The Piper Sandler equity research team looked into more than 63 million data points around teen preferences and spending in the 24-plus years of researching teens. Korinne Wolfmeyer, senior research analyst at Piper Sandler, said they are excited to share the results of their fall 2024 Talking Stock With Teens survey. It offers an inside look at how over 13,500 US teens are spending their money and its direct impact on the economy.
“This fall, teens self-reported spending at $2,361, a four percent increase compared to our spring survey. Nike and e.l.f. Beauty continues to prove their wallet dominance as the number one preference in apparel and beauty.”
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