Piper Jaffray Completes 27th Semi-Annual Taking Stock With Teens Market Research Project
April 09 2014 - 3:47PM
Business Wire
Piper Jaffray (NYSE: PJC) has completed its 27th semi-annual
Taking Stock With Teens market research project, which signals a
potential point of stability, with spending contracting by just 1%
from Fall 2013, compared to sequential declines in the mid-single
digits previously.
“Over the 13-year history of our survey, we have observed
notable changes in the brands teens aspire to own and wear, the
influences that direct what they buy, and how teens are consuming,
interacting with and sharing the brands they love,” said Steph
Wissink, co-director of investment research and senior research
analyst at Piper Jaffray. “The universal truths about teens remain
the same—they continue to seek peer affirmation, their spending is
almost entirely discretionary, and they are early adopters of
change. What’s different about this generation of teens versus
prior is that they are non-conformists, they seek experiences over
products, and they align with brands that are practical yet
cool.”
Key findings from the survey in fashion, beauty and personal
care, restaurants, digital media, gaming, and wireless
communication include the following:
- Teen males indicated they were
spending more, up 4% from Fall 2013, which has historically
signaled inflection in broader spending
- For the first time in our survey
history, food exceeded clothing as a percentage of the teen
wallet. Electronics also gained in share, while furniture
and fashion ceded modest share.
- Declines in the fashion category
were most severe in accessories– down double-digits for a second
cycle in a row
- Top clothing brands (continued
to) include Nike, Action Sports, Forever 21, American Eagle, Polo
Ralph Lauren and Hollister
- 17% of teens expressed interest in an
Apple iWatch, up 12% from Fall 2013, which we believe is an
indication of consumer appetite
- Instagram ranked as the most
important social network, exceeding Twitter and Facebook for the
first time in survey history
- At home, cable subscriptions are
becoming less essential for teens, while online streaming is
more critical. Out of home, IMAX continues growing share among
teens.
- Music/radio listenership has
grown for Pandora and local radio, largely at the cost of MP3s and
CDs.
- 85% of teen gamers play mobile
games
For an infographic and more information regarding the survey,
please visit www.piperjaffray.com/teens.
About the SurveyThe Taking Stock With Teens survey is a
semi-annual research project comprised of gathering input from
approximately 7,500 teens with an average age of 16.4 years. Teen
spending patterns, fashion trends, and brand and media preferences
were assessed through visits to a geographically diverse subset of
high schools across 12 states, 14 schools and 18 classrooms, as
well as an online survey that included 48 states. The survey is
conducted in partnership with DECA, an international association of
high school students. The spring survey was conducted from February
24 – April 1, 2014.
About Piper JaffrayPiper Jaffray Companies (NYSE: PJC) is
an investment bank and asset management firm headquartered in
Minneapolis with offices across the U.S. and in London and Zurich.
Securities brokerage and investment banking services are offered in
the United States through Piper Jaffray & Co., member NYSE and
SIPC, and in Europe through Piper Jaffray Ltd., authorized and
regulated by the Financial Conduct Authority. Asset management
products and services are offered through three separate investment
advisory affiliates registered with the U.S. Securities and
Exchange Commission: Advisory Research Inc., Piper Jaffray
Investment Management LLC and PJC Capital Partners LLC.
www.piperjaffray.com
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at: www.piperjaffray.com/researchdisclosures.
© 2014 Piper Jaffray Companies. 800 Nicollet Mall, Minneapolis,
Minnesota 55402-7020.
Piper Jaffray & Co.Pamela Steensland,
612-303-8184pamela.k.steensland@pjc.com
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