Piper Jaffray conducted its 38th biannual survey in 42 U.S. states on 9,500 teens consisting of 54% males and 45% females with an average age range of 15.8.
Overall spending decreased by 4% from Fall of 2018 and 10% since the previous Spring survey. The average Teens’ annual spending stood at $2,371, making it the lowest it has fallen since 2011. Little wonder 32% of the survey population believes the Economy is taking a turn for the worse.
For the male teens, spending on food ranked highest at 23% while the females spent most on clothes at 27%. These teens favored Chick-fil-A restaurant and Lays as top snack. Nike is at the number one spot for clothing brands and foot wears.
Streaming Services
YouTube displaced Netflix in the video consumption category with YouTube leading at 37% as against Netflix’s 35%. Google’s YouTube rose to oust Netflix, which had been leading in the previous surveys. According to the report, this change was thanks to YouTube’s diversified video contents ranging from how-to-do videos to music videos that appeal to teen. However, Netflix is still far ahead of other video platforms like cable and Amazon Prime.
Shopping Spending
There was noticeable decline in handbag spending at $90/yr with Michael Kors brand at No 1 followed by Louis Vuitton at No 2. Gucci is in the fifth position with 9%.
Amazon is clearly leading the shopping websites at 52%, giving the second contender, Nike a run for their money at 4%. Obviously, the Teens would rather shop at Amazon than any other e-commerce site.
Social Media
Of the social media engagement, Instagram is the most visited social media for the teens followed by Snapchat. Other top contenders were Twitter, Facebook and Pinterest, in that order.
Majority of the teens surveyed would rather shop for beauty products in-store rather than online thus maintaining the previous trend.
Environment, immigration and gun control top the list of social and political issues teens care about.
The top influencers for the teens include David Dobrik, Kylie Jenner and Donald Trump in that order while top celebrities are Kevin Hart and Tom Holland.
The female teens use the online influencers to discover and stay on top of beauty trends and brands.
The 2019 Fall Piper Jaffray Taking Stock with Teens Survey shows that teens prefer using Ulta beauty destination followed by Sephora and Walmart. On the other hand, Tart is the No 1 costmetic brand with Two Faced and Maybelline following closely behind while Neutrogena is the top skin care brand.
What does the decrease in spending of the Gen Z in this survey portend? A downward swing of the economy or a temporary stint?
Alphabet Inc. (NASDAQGS:GOOG; LSE:0HD6; DB:ABEC)
- abc.xyz
- Headquartered in Mountain View, CA, Alphabet, the parent company of Google, provides online advertising services and search engine capabilities on the Internet.
- Alphabet is currently trading at $1,246.30 with a market cap of $861,634.6 million.
Amazon.com, Inc. (NasdaqGS:AMZN; DB:AMZ)
- amazon.com
- Headquartered in Seattle, WA, Amazon engages in the retail sale of consumer products and subscriptions in North America and internationally.
- Amazon is currently trading at $1,781.11 with a market cap of $874,245.1 million.
Netflix, Inc. (NasdaqGS:NFLX; LSE:0QYI; DB:NFC)
- netflix.com
- Headquartered in Los Gatos, CA, Netflix provides Internet entertainment through streaming services.
- Netflix is currently trading at $286.03 with a market cap of $124,454.6 million.
NIKE, Inc. (NYSE:NKE; LSE:0QZ6; DB:NKE)
- nike.com
- Headquartered in Beaverton, OR, NIKE, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide.
- NIKE is currently trading at $95.04 with a market cap of $147,972.2 million.
Piper Jaffray Companies (NYSE:PJC)
- piperjaffray.com
- Headquartered in Minneapolis, MN, Piper Jaffray operates as an investment bank and asset management firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally.
- Piper Jaffray is currently trading at $72.45 with a market cap of $1,036.9 million.
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