MINNEAPOLIS--(BUSINESS WIRE)--Piper Sandler Companies (NYSE: PIPR), a leading investment bank, completes its 48th semi-annual Taking Stock With Teens® survey in partnership with DECA. The Piper Sandler equity research team now has more than 63 million data points around teen preferences and spending in the 24 plus years of researching teens. To see the full list of key findings, view the report summary and request the full survey report, visit pipersandler.com/teens.
“Piper Sandler is excited to showcase the results of our fall 2024 Taking Stock With Teens® survey which offers an inside look at how over 13,500 U.S. teens are spending their money and its direct impact on our 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 continue to prove their wallet dominance as number one preferences in apparel and beauty,” said Korinne Wolfmeyer, senior research analyst at Piper Sandler.
Clothing and footwear
Nike holds strong as the number one brand for all teens in both apparel and footwear. New Balance is improving to the number three spot and has doubled its mindshare to eight percent this fall. In apparel, lululemon keeps its number three ranking but lost four points of mindshare among upper income teens. Amazon ranks number one among upper income teens as the top shopping website.
Beauty
The beauty category remains a high priority for teens and this fall survey shows the core beauty wallet reaching the highest levels seen since 2018 at $342. Cosmetics continues to hold the highest share within beauty spending, but fragrance is growing quickly at 25 percent year-over-year.
Technology and social media
TikTok is the favorite social app among teens while Instagram came in second and Snapchat ranks third. 87 percent of teens own an iPhone and nearly 30 percent of teens plan to upgrade their Apple hardware in the next six months because of Apple Intelligence. Netflix is the top choice for teens when it relates to daily video consumption.
Restaurants and food
Chick-fil-A continues to be the preferred chain restaurant among teens while McDonald’s and Chipotle Mexican Grill ranks number two and three. Teens prefer energy drinks over coffee and soda as their source of energy. Monster Beverage, Red Bull, Celsius and Alani Nu continue to hold their top four rankings.
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