Teens Are "Snapping" up Denim, Sneakers and Beauty, According to Survey of 10,000 Teens
October 14 2016 - 11:00AM
Business Wire
Piper Jaffray Companies (NYSE: PJC), a leading investment bank
and asset management firm, completed its 32nd semi-annual Taking
Stock With Teens research survey, which highlights spending trends
and brand preferences amongst 10,000 teens across 46 U.S.
states.
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Taking Stock With Teens, Fall 2016
Infographic (Source: Piper Jaffray).
For an infographic and more information regarding the fall
survey, please visit piperjaffray.com/teens.
Since the project began in 2001, Piper Jaffray has surveyed more
than 140,000 teens and collected over 37 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 slightly versus last year, we are encouraged that the
upper-income teenagers in our survey are indicating more optimism
and positive spending trends. This increase in spending among
upper-income teens seems to be largely broad-based across fashion
and beauty,” said Neely Tamminga, Piper Jaffray senior research
analyst.
Fall 2016 Key Findings
Fashion and Beauty:
- While overall teen spending is down
compared to fall 2015, spending trends are encouraging among
upper-income teens where total spending is indicated up 2.5%
year-over-year. Historically, we’ve observed that results from our
upper-income survey set tend to lead overall spending.
- Denim brands saw an uptick to 19%
aggregated mindshare and showed up as a top trend among
upper-income females for the second consecutive survey in a
row.
- Among upper-income teens, fashion
athletic apparel is still on the rise with a new high of 35% share
achieved with Nike, adidas and Under Armour gaining share.
- The beauty category’s wallet share
among upper-income females reached 11%―the highest value seen in
our survey history. Specialty store formats continue to outpace
legacy channels for beauty.
Digital Media, Gaming, Food and Entertainment:
- Restaurants represented 23% of overall
spending for upper-income teens; teens are choosing limited-service
concepts at nearly 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 check ranging from $5 to $17.
- Amazon Prime adoption has grown across
all income brackets in each of the past six surveys, most recently
indicating Amazon Prime exists in 58% of households of the teens
surveyed. This survey, along with other previous Piper Jaffray
consumer surveys, suggests that there are 63-66 million Prime
households in the U.S.
- For the first time in our survey,
YouTube outpaced cable TV when teens respond to how they spend
their time.
- The only two categories that exceed
male teen spending on video games (12%) are food (20%) and clothing
(16%). Video game spending among males remains above survey history
averages.
- The most anticipated movies this year
among teens are: 1) Fast 8; 2) Rogue One: A Star Wars Story takes
the second seat; and 3) Beauty and the Beast. Overall Disney
Studios’ mindshare among teens is on the rise.
About the SurveyThe Taking Stock With Teens survey is a
semi-annual research project comprised of gathering input from
approximately 10,000 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. and Simmons & Company International
Limited, 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.
© 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/20161014005550/en/
Piper Jaffray CompaniesPamela Steensland,
612-303-8185analystmediarelations@pjc.com
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