Survey: 85% of U.S. teens own an iPhone (88% plan on buying one as their next smartphone)

Piper Sandler Companies, an investment bank and institutional securities firm completed its 39th semi-annual Taking Stock With Teens survey, which highlights discretionary spending trends and brand preferences from 5,200 teens across 41 U.S. states with an average age of 16.2 years. 

Among the findings: 85% of teens own an iPhone and 88% expect an iPhone to be their next phone, both new all-time survey highs.

Piper Sandler says that Generation Z, which contributes approximately $830 billion to U.S. retail sales annually, represents an influential consumer group where wallet size and allocation provide a proxy for category interest.

This year’s spring 2020 survey was impacted by the COVID-19 pandemic. The survey was conducted from February 17 to March 27 with several teens taking it while quarantined at home – most notably during the last three weeks of the survey. Students answered the survey at home as part of an online learning module Piper Sandler incorporated with partner, DECA. Finally, the survey conductors received lower responses from the Northeast – the part of the U.S. that’s suffered the most from COVID-19.

Key findings from the survey:

° Netflix surpassed YouTube as No. 1 daily video consumption; Disney+ debuts in top 5 ahead of Amazon and Apple TV+.

° Food continues to be teens’ No. 1 spending category at 25% of wallet share, up from 23% in fall 2019.

° Amazon continues to climb as teens’ No. 1 preferred online shopping mindshare at 53% —10x higher than the No. 2 ranking, Nike.

° Average video game spend by teens over the past 15 surveys is $197.

° Chick-fil-A remains No. 1 restaurant for 5 surveys; Starbucks retains double-digit share.

° Kellogg is the most preferred snack brand among teens.

° Ulta maintains No. 1 preferred beauty destination against Sephora for third survey in a row.