Piper Jaffray Completes 38th Semi-Annual Generation Z Survey of 9,500 U.S. Teens
October 08 2019 - 11:00AM
Business Wire
- Overall teen “self-reported” spending decreased by 4% Y/Y
& 10% sequentially to $2,400—the lowest level since Fall
2011
- Thirty-two percent of teens believe the economy is getting
worse—higher than the 25% level in Fall 2018
- Cosmetics spending for females hits 2019-survey low with
spending down 21% Y/Y
- Video games still gaining share now at 9% of total teen
wallet vs. 8% last Fall
- Food continues to be teen’s No. 1 wallet priority at 23%
share; Chick-fil-A remains No. 1 restaurant for 4 consecutive
surveys
- Crocs gains notable share to the No. 7 preferred footwear
brand, behind Birkenstock
Piper Jaffray Companies (NYSE: PJC), a leading investment bank
and institutional securities firm, completed its 38th semi-annual
Taking Stock With Teens® survey, which highlights discretionary
spending trends and brand preferences from 9,500 teens across 42
U.S. states with an average age of 15.8 years. Generation Z, which
contributes approximately $830 billion to U.S. retail sales
annually*, represents an influential consumer group where wallet
size and allocation provide a proxy for category interest.
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piperjaffray.com/teens.
“Our Fall Teen Survey continues to validate several
characteristics of this digitally-native demographic: 83% of teens
have an iPhone, 52% of teens claim Amazon as their favorite online
shopping website, and we saw an acceleration of VSCO and TikTok
mentions,” said Erinn Murphy, Piper Jaffray senior research
analyst. “Importantly, however, we saw the lowest teen spending
levels in eight years. The two most challenged categories were
handbags and cosmetics as females reprioritize their spending with
eating out and footwear/apparel. Broadly, the casualization of
fashion continues: Nike gained share within its No. 1 rank and
lululemon hit a new survey high as the No. 7 preferred apparel
brand. Within footwear, Crocs also achieved a new survey record as
the 7th preferred footwear brand.”
Fall 2019 Key Findings
Spending & Shopping Behavior
- Food continues to be male teens’ No. 1 spending category (23%),
clothing is female teens’ No. 1 wallet share (27%)
- Amazon holds majority of online shopping mindshare at 52% —13x
higher than the No. 2 ranking, Nike
- 91% of female teens preferred shopping for beauty in-store vs.
online —consistent with historic trend
- 89% of female teens use online influencers as a source of
discovery for beauty brands and trends —Kylie Jenner ranks No. 2
“top influencer” and is the only beauty influencer in the top 10
this Fall
- Female teens indicated they spend an average of $90/year on
handbags — a new survey low and compares to peak spending of
$197/year (Spring 2006)
Brand Preferences
- Preppy brands such as Sperry, Ralph Lauren and Vineyard Vines
continue to cede share to athletic brands —36% of preferred apparel
brands are “athletic,” up from 34% last Fall
- Chick-fil-A remains No. 1 restaurant for 4 surveys; Starbucks
retains double-digit share
- lululemon hits all-time survey high (No. 7 preferred athletic
apparel brand vs. No. 11 in Fall 2018)
- Ulta maintains No. 1 preferred beauty destination against
Sephora for second survey in a row
- Teens spend 37% of their daily video consumption on YouTube,
ahead of Netflix at 35%
- European luxury brands account for 30% of mindshare among
preferred handbag brands (Louis Vuitton, Gucci, Chanel)
- iPhone ownership remains at 83%, 86% of teens expect an iPhone
to be their next phone
The Piper Jaffray Taking Stock With Teens® survey is a
semi-annual research project that gathers input from 9,500 teens
with an average age of 15.8 years. Discretionary spending patterns,
fashion trends, technology, and brand and media preferences are
assessed through surveying a geographically diverse subset of high
schools across the U.S. Since the project began in 2001, Piper
Jaffray has surveyed more than 180,000 teens and collected over
45.4 million data points on teen spending.
* Source: Fung Global Retail & Technology
Piper Jaffray Companies (NYSE: PJC) is a leading investment bank
and institutional securities firm driven to help clients Realize
the Power of Partnership®. 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.
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© 2019 Piper Jaffray Companies. 800 Nicollet Mall, Suite 1000,
Minneapolis, Minnesota 55402-7036
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version on businesswire.com: https://www.businesswire.com/news/home/20191008005671/en/
Pamela Steensland Tel: 612 303-8185
analystmediarelations@pjc.com
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