Survey: Teens love iPhones, Amazon, Nike, and food
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Teenagers are spending their money on food, athletic gear, video games and more than three-quarters of them own iPhones. So says the latest Piper Jaffray Taking Stock with Teens survey.
The survey of about 145,000 teens on their spending in fashion, food, gaming, digital media and more revealed a number of trends. Teen spending declined 2.4 percent year over year, and parent contribution to teen spending is down to 63% from its previous average of 68 percent.
Key findings include:
- Teens’ favorite website is Amazon at 43% share—up 200 basis points year-over-year.
- For console video games, the percent of teens who plan to digitally download games increased to 45% for spring 2017 from 37% in fall 2015.
- 81% of teens expect their next phone to be an iPhone, which was up from 79% in fall 2016 and, more importantly, the highest we’ve seen ever in the survey.
- Athletic wear is a multi-year trend versus a cycle and Nike remains the No. 1 apparel brand with 31% share – up from 21% last year.
- 41% of teens named an athletic brand as their preferred apparel brand – (unaided) adidas shares hit a 10-year high for upper-income males.
- The 90s: leggings/lululemon, chokers and Converse are the top three trends among upper-income females.
- Brand perspective: the fastest growing brand in the survey is adidas while Patagonia surprised to upside.
- Teens' favorite restaurant is now Chick-fil-A unseating Starbucks – Starbucks is still No. 1 among average-income teens.
- Food makes up 24% of teen budgets today eclipsing clothing at 19%.
- iPhone ownership of 76% is our highest rating ever with upside remaining – 81% of teens say their next phone will be an iPhone.
- Disney films dominated the most anticipated list with "Beauty and the Beast" at No. 2, "Star Wars and The Last Jedi" at No. 3 and "Guardians of the Galaxy Vol. 2" at No. 4 grabbing the top spots. "Fast 8" slotted for the No. 1 most anticipated movie.
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