Teens' top brand preferences are...
Teens are spending less compared to last year, including on fashion, although top brand preferences largely remain steady.
According to investment bank Piper Sandler Companies’ latest Taking Stock With Teens survey of 6,020 American teenagers with an average age of 16, “self-reported” spending was down 6% year-over-year (YoY) to $2,263, and up 1% compared to last fall’s survey.
Teen footwear spend was down 1% YoY, led by average income teens footwear spend decreasing 3%, partially offset by upper-income teens footwear spend increasing 5%. Upper-income female fashion spend was down 12% YoY, with lower spending reported across apparel (-13%), shoes (-3%) and accessories (-21%).
Parent contribution was 62%, in-line with last fall. Nearly four-in-10 (38%) teens surveyed reported being part-time employed. The average household income of those surveyed was $66,280.
“Our survey results indicate a slight increase in teen spending sequentially from fall 2023, but self-reported spend is down 6% YoY, well below pre-pandemic levels,” said Abbie Zvejnieks, senior research analyst at Piper Sandler. “We are seeing some significant shifts in brand preferences including the rise of smaller, innovative brands which are taking share from incumbents. We think social media has led to an accelerated trend cycle including an increased emphasis on key products, and brands will have to be nimble to keep up.”
Nike remains the No.1 brand for all teens in both apparel and footwear, though On Running, HOKA and New Balance have all gained share since the last Piper Sandler Survey. New Balance gained the most footwear mindshare YoY, while Converse lost the most footwear mindshare YoY.
Among upper-income teens, HOKA remained the No. 3 athletic footwear brand, increasing mindshare by 280 bps YoY, and On Running remained the No. 5 athletic footwear brand, increasing mindshare by 120 bps YoY. Nike lost 510 bps of mindshare YoY in athletic footwear among upper-income teens.
Lululemon remains the No. 2 athletic apparel brand among upper-income teens (No. 1 among female upper-income teens), but other brands are gaining traction. Alo Yoga was the No. 11 favorite brand and Vuori was the No. 15 favorite brand compared to No. 35 and No. 24 respectively in the fall.
Beauty remains a heightened priority for teens, with the core beauty wallet reaching the highest level seen since spring 2018 at $339 (+8% YoY), driven by growth in all categories. Cosmetics still holds the highest share of total beauty spend, but fragrance is experiencing the greatest growth at +23% YoY. E.l.f. continued its dominance as the No. 1 cosmetics brand, and grew its share by 16 points YoY to 38%.
Chick-Fil-A remains the No. 1 favorite restaurant at 16% share. McDonald’s (10%) moved up to No. 2 from No. 3 in the fall. Chipotle (9%) moved up to No. 3 from No. 4 in the fall, and Raising Cane’s (No. 4 at 4%) is rapidly gaining share from the fall (No. 5) where they first made it into Top 5 Restaurants.
Teens’ list of top brands is as follows, listed by category:
Top Shopping Websites
Amazon (55%)
Shein (12%)
Nike (6%)
GOAT (2%)
Temu (2%)
Top Clothing Brands
Nike (34%)
American Eagle (6%)
Lululemon (5%)
Shein (3%)
Hollister (3%)
Top Footwear Brands
Nike (59%)
Adidas (7%)
Converse (7%)
New Balance (5%)
Vans (3%)
Top Beauty Destinations
Sephora (37%)
Ulta (31%)
Target (10%)
Amazon (5%)
Walmart (5%)
Top Restaurants
Chick-Fil-A (16%)
McDonald’s (10%)
Chipotle (9%)
Raising Cane’s (4%)
Texas Roadhouse (4%)