Piper Jaffray released its semiannual report on teen spending Wednesday.
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 food. Starbucks remains the perennial favourite among all teens for food-and-drink spending. Food accounts for 23% of teen spending, followed by clothing (20%), accessories (10%), video games (8%), cars (8%), electronics (8%), and shoes (7%). The rest is spent on music, movies and events.
2. Nike remains the top clothing brand among teens across all income levels. Forever 21, American Eagle, Polo Ralph Lauren, and Victoria’s Secret also rank among the most popular apparel brands. Top footwear brands for upper-income teens include Nike, Converse, Vans, Sperry Top-Sider, DSW, and Steve Madden.
3. Teens shop on Amazon more than any other website.
4. 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:
5. On the flip side, brands that are starting to get more popular among teen girls include Lululemon, Nike, and Victoria’s Secret
. Activewear is now more popular than denim.
Nike, Under Armour, Lululemon, and Adidas are the most popular brands for athletic apparel.
7. Teens’ No. 1 restaurant remains Starbucks, followed by Chipotle and Chick-fil-A.
8. An increasing number of teens, particularly males, prefer to shop online.
9. Instagram is the most important social network for teens, followed by Twitter and Facebook, respectively.
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