Piper Sandler Companies, an investment bank and institutional securities firm, has completed its 40th semi-annual “Taking Stock With Teens” survey in partnership with DECA. And it’s good news for Apple’s iPhone.
This survey highlights discretionary spending trends and brand preferences from 9,800 teens across 48 U.S. states with an average age of 15.8 years.
Generation Z, which contributes approximately US$830 billion to U.S. retail sales annually, represents an influential consumer group where wallet size and allocation provide a proxy for category interest, according to Erinn Murphy, Piper Sandler senior research analyst. And it’s good news for Apple’s iPhone.
Eighty-six percent off teens own an iPhone and 89% expect an iPhone to be their next phone. These are both new all-time survey highs in Piper Sandler’s study.
This year’s survey was impacted by the COVID-19 pandemic. The survey was conducted from August 19 to September 22 (Seventy-six percent of teens have returned to school in either a hybrid format or fully virtual.) Piper Sandler received the highest amount of responses from the South at 42% of the mix and 10% of the responses from the Northeast—similar to Spring 2020.
