Survey Says Teens Prefer Food over Clothing, Nike is Losing Its Heat and Streetwear is on the Rise
October 11 2017 - 11:03AM
Business Wire
Piper Jaffray Companies (NYSE: PJC), a leading investment bank
and asset management firm, completed its 34rd semi-annual Taking
Stock With Teens research survey, which highlights spending trends
and brand preferences amongst 6,100 teens across 44 U.S.
states.
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Taking Stock With Teens, Fall 2017
Infographic (Graphic: Piper Jaffray)
For an infographic and more information regarding the most
recent survey, visit piperjaffray.com/teens.
Since the project began in 2001, Piper Jaffray has surveyed more
than 155,000 teens and collected nearly 40 million data points on
teen spending in fashion, beauty and personal care, digital media,
food, gaming and entertainment.
“For the first time in years, we’ve seen Nike share moderate as
a preferred brand. Offsetting this weakness, we’ve seen an
unexpected rise in trends like streetwear with Vans and Supreme
gaining momentum. In addition, other brands such as adidas, Puma
and New Balance has been capturing more mindshare as teens
gravitate towards that 1990s retro look,” said Erinn Murphy, Piper
Jaffray senior research analyst.
Fall 2017 Key Findings
Overall Spending Behavior
- Overall teen spending moved down 4.4%
year-over-year, while parent contribution to teen spend is 67% just
below the long-term average of 68%.
- Wallet shifts in fall 2017 include
slight downtick for video games, slight uptick for clothing, and
moderate downtick for food.
- Food ticked down from 24% in spring
2017 to 22% in fall 2017, but remains larger than clothing at
20%.
Apparel
- Athletic apparel is moderating somewhat
led by Nike, but there is no slowdown in athletic footwear. Apparel
brand preference is shifting towards streetwear with brands like
Vans and Supreme.
- Nike, Ralph Lauren, Steve Madden, UGG
(Deckers), Fossil and Michael Kors saw the largest declines among
major brands.
Technology Spending & Behavior
- Snapchat is the preferred social media
platform for 47% of teens using the platform – up 12%
year-over-year.
- 82% of teens expect their next phone to
be an iPhone, which is up from 81% in spring 2017, and more
importantly, the highest we have ever seen in our survey.
- Teens who expect >50% of their
future video games to be digitally downloaded increased to 50% from
45% in spring 2017 and 37% from two years ago.
- Streaming continues to gain teen video
share as preference for linear TV declined 2% since last fall.
- Only 35% of teens listen to Pandora
radio versus 49% last year as on-demand services such as Spotify,
YouTube and Apple Music continue to gain share.
- 23% of teens prefer to shop specialty
retailers, which is down 3% year-over-year, while pure-play e-com
tied its spring 2017 peak at 17% – up 2% year-over-year.
- Teens increasingly prefer Amazon as
their favorite website at 49% share – up 9% year-over-year.
About the SurveyThe Taking Stock With Teens survey is a
semi-annual research project comprised of gathering input from
approximately 6,100 teens with an average age of 16.0 years. Teen
spending patterns, fashion trends, and brand and media preferences
were assessed through surveying a geographically diverse subset of
high schools across the U.S.
About Piper JaffrayPiper Jaffray Companies (NYSE: PJC) is
a leading 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 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 five separate investment advisory affiliates―U.S.
Securities and Exchange Commission (SEC) registered Advisory
Research, Inc., Piper Jaffray Investment Management LLC, PJC
Capital Partners LLC and Piper Jaffray & Co., and
Guernsey-based Parallel General Partners Limited, authorized and
regulated by the Guernsey Financial Services Commission.
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© 2017 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/20171011005804/en/
Piper Jaffray CompaniesPamela Steensland,
612-303-8185pamela.k.steensland@pjc.com
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