More Denim, Netflix and YouTube; Less Handbags and Broadcast Media, According to Survey of 9,400 Teens
15 October 2015 - 12:00AM
Business Wire
Piper Jaffray Companies (NYSE: PJC), a leading investment bank
and asset management firm, completed its 30th semi-annual Taking
Stock With Teens research survey, which highlights spending trends
and brand preferences amongst 9,400 U.S. teens across 46 U.S.
states.
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This cycle marks a milestone for the survey, celebrating its
15th consecutive year. Since the project began in the spring of
2001, Piper Jaffray has surveyed approximately 125,000 teens and
collected nearly 34 million data points on teen spending in
fashion, beauty and personal care, digital media, food, gaming and
entertainment.
“The power of our teen survey goes beyond the information we
capture in any given season. Rather, it aids our ability to
zoom out and monitor bigger, and sometimes more subtle, but very
real trends. For example, we’ve observed fashion choices are moving
back to authenticity across denim brands, performance athletic
brands and independent cosmetic brands,” said Neely Tamminga,
senior research analyst.
Fall 2015 Key Findings
Fashion, Beauty and Personal Care:
- While overall teen spending is down
from the spring survey, spending on fashion is up among
upper-income teens.
- Denim brands are inflecting positively
for the first fall since 2010 and the category is up substantially
from last year. However, this is not coming at a cost to athletic
brands —rather, we are seeing a declining rate in fast fashion
retailers as a percentage of overall upper-income females.
- In athletic brands, there is a clear
divergence between performance athletic and peripheral athletic
brands. Nike and comparable brands are strengthening in view of
their mindshare dominance and authenticity.
- Accessories spending among females
decelerated 4% year-over-year, in addition to a decline in the
intention to purchase handbags.
- Within cosmetics, there is a trend of
de-concentration of brands, where mega brands are ceding share to
smaller, independent brands. Central to this shift is the rise of
individuality over conforming to a crowd.
- Specialty stores are replacing broader
merchandise/department stores among affluent females by consuming
33% of their shopping time—a 5% increase over last year.
Digital Media, Gaming and Entertainment:
- Amazon increased mindshare to 38% of
the overall votes as a preferred website. Furthermore, Amazon Prime
membership expanded 400 basis points versus just six months
ago.
- Teens are spending more time on Netflix
and YouTube as opposed to traditional TV; the amount of time they
spend on these websites combined equates to 59% versus traditional
TV at 29%.
- The most anticipated movies this year
among teens are: 1) Hunger Games: Mockingbird, Part 2; 2) Star
Wars, The Force Awakens; and 3) Divergent: Allegiant, Part 1.
- In music, broadcast radio continues to
cede share to streaming, and Spotify is gaining on Pandora.
- 73% of participants anticipate buying a
next-generation gaming console or already own one, which is up 6%
over last year—a faster uptake over previous cycles.
For an infographic and more information regarding the fall
survey, please visit www.piperjaffray.com/teens.
About the SurveyThe Taking Stock With Teens survey is a
semi-annual research project comprised of gathering input from
approximately 9,400 teens with an average age of 16 years. Teen
spending patterns, fashion trends, and brand and media preferences
were assessed through visits to a geographically diverse subset of
high schools across the United States.
About Piper JaffrayPiper Jaffray Companies (NYSE: PJC) is
an investment bank and asset management firm headquartered in
Minneapolis with offices across the U.S. and in London, Zurich and
Hong Kong. Securities brokerage and investment banking services are
offered in the United States through Piper Jaffray & Co.,
member NYSE and SIPC, in Europe through Piper Jaffray Ltd.,
authorized and regulated by the Financial Conduct Authority, and in
Hong Kong through Piper Jaffray Hong Kong, authorized and regulated
by the Securities and Futures Commission. Asset management products
and services are offered through three separate investment advisory
affiliates registered with the U.S. Securities and Exchange
Commission: Advisory Research Inc., Piper Jaffray Investment
Management LLC and PJC Capital Partners LLC.
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, including an attestation under Regulation
Analyst Certification, found at:
www.piperjaffray.com/researchdisclosures.
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© 2015 Piper Jaffray Companies, 800 Nicollet Mall, Suite 1000,
Minneapolis, Minnesota 55402-7036
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version on businesswire.com: http://www.businesswire.com/news/home/20151014005325/en/
Piper Jaffray CompaniesPamela Steensland,
612-303-8185analystmediarelations@pjc.com
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