Piper Jaffray Completes 12th Biannual 'Taking Stock With Teens' National Study of Teen Shopping Behavior and Brand Preferences
06 October 2006 - 1:01AM
PR Newswire (US)
MINNEAPOLIS, Oct. 5 /PRNewswire-FirstCall/ -- Piper Jaffray &
Co. Senior Retail Analyst Jeff Klinefelter and a collaborative team
of other senior research analysts recently released the results of
the 12th biannual proprietary research survey on teen spending
habits and retail brand perceptions, titled "Taking Stock With
Teens." Klinefelter and team conducted mall research field trips in
11 cities in the United States and Canada surveying approximately
1,000 students. Piper Jaffray also partnered with the national DECA
organization for the fourth time resulting in approximately 3,000
additional completed teen surveys. Overall, the survey shows that
total fashion spending by students is beginning to moderate with
total spending declining among young men by 11 percent from the
spring tour and 14 percent year over year. Spending for young women
was down five percent since spring and 12 percent year over year.
Teenage consumers do, however, continue to spend a significant
amount of money on the fashion category, which represents 41
percent of the total teen budget for the fall season, versus 43
percent in the spring 2006 season. Klinefelter and team surveyed
teens on their favorite places to shop and their spending habits.
Based on their responses, Hollister, a concept of Abercrombie &
Fitch, took the top spot as the most frequent overall destination
for the fourth consecutive survey followed by West Coast Brands,
which includes Pacific Sunwear of California, Volcom, Hurley,
Quiksilver, Billabong, Sun Diego, Roxy and Element. In third place
is Abercrombie & Fitch followed by American Eagle in fourth and
Urban Outfitters in fifth place. The students were also surveyed on
video games. In total, 81 percent of teens own at least one video
game platform and 61 percent answered that they are occasional game
players, playing at least monthly. Additionally, 49 percent of teen
households indicated they currently own or intend to purchase a
next-generation console. Students were also asked about their
buying habits of MP3 players and online music. Of those students
who own a MP3 player, 79 percent indicated that they also own some
form of iPod, which is up from 77 percent in spring 2006. For
online music services, 91 percent of students indicated that they
use iTunes, up from 71 percent in spring 2006. Additionally,
interest in MP3 phones increased to 74 percent from 70 percent in
the spring 2006 survey. New to the survey this fall were specific
questions about channel preference in the beauty categories of skin
care and cosmetics. Overall, teens shop at discount stores and drug
stores to purchase skin-care items and specialty retail stores for
cosmetics. MAC was the top-ranked preferred cosmetics brand among
teen respondents this fall for the second consecutive survey.
Parents were also surveyed in a separate study. Parent spending on
apparel for themselves and their teen was down 13 percent year over
year. Parents in the survey indicated that they would be spending
approximately 12 percent less year over year on their teens
following a year of 30 percent-plus increases. Parents also
responded to their buying habits of flat-panel TVs and home theater
systems. The intent to purchase a flat-panel TV within the next six
months increased to 34 percent from 15 percent in the spring of
2006 and 11 percent year over year. About Piper Jaffray Piper
Jaffray Companies is a leading, international middle market
investment bank and institutional securities firm, serving the
needs of middle market corporations, private equity groups, public
entities, nonprofit clients and institutional investors. Founded in
1895, Piper Jaffray provides a comprehensive set of products and
services, including equity and debt capital markets products;
public finance services; mergers and acquisitions advisory
services; high-yield and structured products; institutional equity
and fixed- income sales and trading; and equity and high-yield
research. With headquarters in Minneapolis, Piper Jaffray has 24
offices across the United States and international locations in
London, Madrid and Shanghai. Piper Jaffray & Co. is the firm's
principal operating subsidiary. (NYSE:PJC) (
http://www.piperjaffray.com/ ) Since 1895. Member SIPC and NYSE.
Disclaimers Piper Jaffray does and seeks to do business with
companies covered in its research reports. As a result, investors
should be aware that the firm may have a conflict of interest that
could affect the objectivity of this report. Investors should
consider this report as only a single factor in making their
investment decisions. This report should be read in conjunction
with important disclosure information at the following site:
http://www.piperjaffray.com/researchdisclosures . DATASOURCE: Piper
Jaffray CONTACT: Susan Beatty, Media Relations of Piper Jaffray,
+1-612-303-5680 Web site: http://www.piperjaffray.com/
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