Do you know what teenagers like? When it comes to shopping for food or fashion, do you know what brands teens most spend their allowances, birthday or Christmas money on?
Piper Jaffray recently released the results of a new survey, Taking Stock with Teens, conducted among 5,000 American teenagers. The researchers saw two particular trends emerging among today's young generation.
First, the spending habits of teenagers saw a slow drop since 2014. Second, today's kids seemed more interested in experiences than acquiring products or goods.
Researchers determined teenagers in the survey spent most of their allowances on food (24 percent), followed by clothes (19 percent) and then car accessories and cosmetics (9 percent). They also splurged on shoes, video games and electronics, as per Business Insider. This trend saw a change in the last decade as teenagers used to spend much on clothes or fashion 10 years ago.
Among teenagers' favorite food brands, Starbucks dropped to second in the ranking as Chick-fil-A took the top spot. Teens also love Chipotle, McDonalds and Olive Garden.
For apparels, Nike retained its number one spot for 41 percent of teens, CNBC reported. The younger generation, however, grew lukewarm on brands like Gap, Hollister and Adidas.
Piper Jaffray's latest "Taking Stock With Teens" report shows young consumers still strongly favor Apple's iPhone https://t.co/SumQqiTUF7
— Mobile Marketer (@MobileMktrDaily) April 11, 2017
Teens no longer spend time scouring for items at malls. In fact, 43 percent prefer shopping for goods at Amazon, the online retail giant.
Researchers noted this online shopping habit as another changing trend. E-commerce used to be a popular activity among older generations of consumers. The survey, however, showed that aside from social media on the internet, online retail stores are becoming more appealing to the younger consumers.
Speaking of social media, Snapchat emerged as the most popular website for teenagers with 81 percent compared to Instagram with 79 percent. Netflix appealed to them more than cable TV. Some 76 percent said they love their iPhone, while 81 percent they will buy this as their next new phone.
