The teens of today are the adult consumers of tomorrow. Piper Sandler’s 43rd semi-annual Taking Stock With Teens Survey gives us a glimpse of what brands are rising to the top, and the tastes and preferences in the young consumer’s mind.
Overall, teen spending increased by 9% year over year, largely driven by female spending (+9%). Female spend was in turn led by increases in clothing (+15%) and footwear (+16%).
Aside from spending trends among teens, Piper Sandler’s teen survey provides us with an inside look into the mind of the teenage consumer, and what brands they like.
Apple continues to dominate the landscape, with 87% of teens owning an iPhone, and expecting it to be their next phone. Additionally, 72% of teens already have AirPods. When it comes to payments, ApplePay is ranked #1, reflecting the power of Apple’s platform.
Nike also leads the race in footwear and apparel, with over 60% mindshare in footwear, and 30% mindshare in clothing. This is multiples higher than the #2 competitors in each of the respective categories.
Coach and Michael Kors continue to land in the #1 and #2 spots, respectively, for handbags – topping Louis Vuitton, Kate Spade, and Chanel.
Ultimately, some of the best businesses are those with strong consumer brands. Insights into the young consumer provides us with insight into tomorrow’s leading businesses.
The author or his firm may have positions in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.