Piper Sandler Companies, an investment bank, has completed its 46th semi-annual “Taking Stock With Teens” survey in partnership with DECA. And it’s good news for Apple.
The iPhone continues to reign as 87% of teens own one and 88% expect the iPhone to be their next mobile device. Apple Pay ranked No. 1 for payment apps used within the last month at 42%, followed by Cash App at 27%
Other key findings from the report:
- Teen “self-reported” spending was down 1% Y/Y to $2,316. A spending decrease has not been seen from this survey since before the COVID-19 pandemic.
- e.l.f. Beauty, Inc. remains the top cosmetics brand, increasing 13 points Y/Y to 29% for female teens.
- NIKE, Inc. maintains its position as the number one favorite brand among teens in both apparel and footwear, with 35% and 61% mindshare respectively.
- Chick-fil-A, Inc. stays the highest ranked restaurant at 16% share.
- Inflation is now the number two social concern, coming in at 9% among teens.
The Piper Sandler “Taking Stock With Teens” survey is a semi-annual research project that gathers input from 9,193 teens with an average age of 15.7 years. Discretionary spending patterns, fashion trends, technology, and brand and media preferences are assessed through surveying a geographically diverse subset of high schools across the U.S. Since the project began in 2001, Piper Sandler has surveyed more than 248,283 teens and collected over 60.7 million data points on teen spending.
