[October 11, 2017] |
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Survey Says Teens Prefer Food over Clothing, Nike is Losing Its Heat and Streetwear is on the Rise
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.
This press release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20171011005804/en/
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 Beavior
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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%.
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Wallet shifts in fall 2017 include slight downtick for video games,
slight uptick for clothing, and moderate downtick for food.
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Food ticked down from 24% in spring 2017 to 22% in fall 2017, but
remains larger than clothing at 20%.
Apparel
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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.
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Nike, Ralph Lauren, Steve Madden, UGG (Deckers), Fossil and Michael
Kors saw the largest declines among major brands.
Technology Spending & Behavior
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Snapchat is the preferred social media platform for 47% of teens using
the platform - up 12% year-over-year.
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82% of teens expect their next phone to be an iPhone (News - Alert), which is up from
81% in spring 2017, and more importantly, the highest we have ever
seen in our survey.
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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.
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Streaming continues to gain teen video share as preference for linear
TV declined 2% since last fall.
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Only 35% of teens listen to Pandora radio versus 49% last year as
on-demand services such as Spotify (News - Alert), YouTube and Apple Music continue
to gain share.
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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.
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Teens increasingly prefer Amazon as their favorite website at 49%
share - up 9% year-over-year.
About the Survey The 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 Jaffray Piper
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 (News - Alert)) 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
View source version on businesswire.com: http://www.businesswire.com/news/home/20171011005804/en/
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