Piper Jaffray released its semiannual report on teen spending Tuesday.
We dug through the report and pulled out some of the most interesting facts and charts.
Here’s a summary:
1. Teens are spending most of their money on clothes and food. Here’s a breakdown of teen spending by category:
2. Teens are spending 20% of their money on food, up from 15% 10 years ago. Meanwhile, their clothing budgets have shrunk.Upper-income teens rank their favourite restaurants in this order: Starbucks, Chipotle, Chick-fil-A, McDonald’s and Dunkin’ Doughnuts. Average-income teens favourite chains are Starbucks, McDonald’s, McDonald’s, Chipotle, Chick-fil-A, and Taco Bell, respectively.
3. Teens are still getting most of their money from their parents.This chart shows parental contributions for average- and upper-income teens over the years.
4. For the first time in the survey’s history, T.J. Maxx ranks as one of teens’ top 10 favourite brands.Nike remains the top clothing brand for all income levels.American Eagle,Forever 21, Polo Ralph Lauren, and Urban Outfitters also rank among the most popular apparel brands. Top footwear brands for upper-income teens are, in order, Nike, Vans, Converse, Sperry Top-Sider, and Steve Madden.
5. Brands that are losing popularity among teens include Aeropostale, Abercrombie & Fitch, and Hollister. Here’s a graph of the top-cited brands that teen girls said they no longer wear:
6. On the flip side, brands that are starting to get more popular among teen girls include Brandy Melville, American Eagle, and Free People. Teens boys cited Nike, Ralph Lauren, and Under Armour as up-trending brands.
7. Teens’ favourite websites for shopping are Amazon, Nike, and eBay.
8. Teen girls said the top fashion trends for fall 2014 include leggings, crop tops and high-waisted pants and skirts.Men cited Nike, “preppy,” “tall socks,” Vineyard Vines and Chubbies as top trends for fall.
9. Instagram is the most important social network for teens, followed by Twitter, Facebook, and Tumblr, respectively.
10. Apple remains the top electronics brand for teens. 67% now own iPhones, up from 61% in the spring, and 73% say that their next phone will be an iPhone. 16% of teens said they are interested in the Apple Watch.
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