More Denim, Beauty and Video Games; Less Time in Broadcast Media, According to Survey of 6,500 Teens
April 13 2016 - 2:13PM
Business Wire
Piper Jaffray Companies (NYSE:PJC), a leading investment bank
and asset management firm, completed its 31st semi-annual Taking
Stock With Teens research survey, which highlights spending trends
and brand preferences amongst 6,500 U.S. teens across 46 U.S.
states.
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Taking Stock With Teens, Spring 2016
Infographic (Source: Piper Jaffray)
Since the project began in the spring of 2001, Piper Jaffray has
surveyed more than 130,000 teens and collected more than 35 million
data points on teen spending in fashion, beauty and personal care,
digital media, food, gaming and entertainment.
“While total spending among the teen demographic appears to be
down versus last year, we are encouraged that overall teen
employment appears to be on the rise; 39% of teens indicate they
hold a part-time job, which is up 400 basis points over last year’s
levels. As they take more control over their discretionary
spending, we believe it is critically important to watch for
category shifts and brand preferences,” said Neely Tamminga, Piper
Jaffray senior research analyst.
Spring 2016 Key Findings
Fashion and Beauty:
- While overall teen spending is down
compared to spring 2015, the percentage of wallet spend on key
fashion categories―clothing, accessories, and footwear―is up to 38%
versus 36% a year ago among upper-income teens.
- Denim brands saw an uptick to 14%
aggregated mindshare and showed up as a top trend among
upper-income females for the first time since fall 2013.
- Among women, fashion athletic apparel
is still on the rise with a new high of 17% share achieved and Nike
gaining share. Within men’s apparel, Nike results were more mixed
across income demographics. Adidas was a positive standout in the
athletic footwear and clothing category.
- The beauty category’s wallet share
among upper-income females reached 10%―the highest value in 10
years. Specialty store formats continue to outpace legacy channels
for beauty.
Digital Media, Gaming, Food and Entertainment:
- Restaurants represented 22% of overall
spending for upper-income teens; teens overall are choosing
limited-service concepts at a 50% greater rate than full-service
concepts. With that, teens consider the overall value equation
versus price-alone when choosing preferred dining destinations with
the average range in check size from $4 to $17.
- Amazon Prime adoption has increased
across all income brackets in each of the past five surveys with
this survey indicating Amazon Prime exists in 51% of households of
the teens in our survey. This survey, along with other previous
Piper Jaffray consumer surveys, suggests that there are 57-61
million Prime households in the U.S.
- The only two categories that exceed
male teen spending on video games (13%) are food (20%) and clothing
(15%). Video game spending among males is at an all-time high for
our survey.
- Teens are spending more time on Netflix
and YouTube as opposed to traditional TV. The amount of time they
spend on these websites combined equates to 66% versus traditional
TV at 26%.
- The most anticipated movies this year
among teens are: 1) Finding Dory (sequel to Finding Nemo); 2)
Captain America: Civil War takes the second seat; and 3) Batman v
Superman: Dawn of Justice.
For an infographic and more information regarding the fall
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 6,500 teens with an average age of 16.5 years. Teen
spending patterns, fashion trends, and brand and media preferences
were assessed through surveying a geographically diverse subset of
high schools across the United States.
About Piper JaffrayPiper Jaffray Companies (NYSE: PJC) is
a leading, international investment bank and asset management firm.
Securities brokerage and investment banking services are offered in
the U.S. through Piper Jaffray & Co., member SIPC and FINRA; in
Europe through Piper Jaffray Ltd., authorized and regulated by the
U.K. Financial Conduct Authority and Simmons & Company
International Limited, authorized and regulated by the U.K.
Financial Conduct Authority and the Dubai Financial Services
Authority; in Hong Kong through Piper Jaffray Hong Kong Limited,
authorized and regulated by the Securities and Futures Commission.
Asset management products and services are offered through four
separate investment advisory affiliates―U.S. Securities and
Exchange Commission (SEC) registered Advisory Research, Inc., Piper
Jaffray Investment Management LLC and PJC Capital Partners LLC; and
Guernsey-based Parallel General Partners Limited, authorized and
regulated by the Guernsey Financial Services Commission.
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© 2016 Piper Jaffray Companies, 800 Nicollet Mall, Suite 1000,
Minneapolis, Minnesota 55402-7036
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version on businesswire.com: http://www.businesswire.com/news/home/20160413006437/en/
Piper Jaffray CompaniesPamela Steensland,
612-303-8185analystmediarelations@pjc.com
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