Piper Jaffray Completes Eighth Bi-Annual 'Taking Stock With Teens' National Study of Generation Y Shopping Behavior and Brand Pr
08 October 2004 - 12:37AM
PR Newswire (US)
Piper Jaffray Completes Eighth Bi-Annual 'Taking Stock With Teens'
National Study of Generation Y Shopping Behavior and Brand
Preferences MINNEAPOLIS, Oct. 7 /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 eighth bi-annual proprietary research
survey on teen spending habits and retail brand perception, titled
"Taking Stock With Teens." Klinefelter and team conducted mall
research field trips with approximately 600 teens from nine high
schools in eight states across the country. Overall, the survey
shows that total fashion spending continues to increase on strong
gains last year. "Total fashion spending remains on par with a
strong performance during the fall 2003 survey," said Klinefelter.
"In addition, spending by female students increased driven by
apparel and accessories and spending by male students also
increased driven by footwear." Brand Preferences Survey Results:
Klinefelter and team surveyed teens on their favorite places to
shop as well as their spending habits. Based on their responses,
Abercrombie & Fitch (ANF, Market Perform, $32.20, #) remains
the most frequent overall destination for the seventh survey in a
row, grabbing 13 percent of the total votes. In second place is
Pacific Sunwear of California (PSUN, Outperform, $21.37, #=) with
11 percent of mindshare votes and in third is Abercrombie's
Hollister concept with nine percent. In addition, American Eagle
Outfitters (AEOS, Outperform $37.42, #) ranked fourth this spring
and Pacific Sunwear's d.e.m.o concept was fifth. Pacific Sunwear
and d.e.m.o combined for 15 percent of mindshare, which is up from
11 percent last spring. "Mindshare in terms of preferred brands
seems to be merging at the top again, after this spring's
relatively democratic dispersion of votes across a wider variety of
retailers," said Klinefelter. "In the spring the three top choices
garnered 25 percent mindshare among students surveyed, while this
fall the top three choices took 33 percent of all votes." The
students were also surveyed on video game products and other
consumer electronics. Results of the survey point out that 81
percent of student households have at least one video game platform
and 54 percent of students are occasional game players (playing at
least monthly). In addition, 69 percent of student households own
Sony's PS2, 36 percent own Microsoft's Xbox, 19 percent own
Nintendo's GameCube and 47 percent own a GameBoy System (38 percent
own two consoles). In addition to video game products, the students
were surveyed about Apple's (AAPL, Outperform, $40.64, #) iPod
product. Of the students surveyed, 16 percent currently own an iPod
and 24 percent plan to buy an iPod within the next year. Looking at
portable digital audio players overall, 32 percent of students are
looking to purchase a portable digital audio player within 12
months and of those 32 percent, 75 percent expect that they will
buy an iPod, versus an alternative player (Rio, Sony, etc.). Gen Y
- Teen and Parent Spending Increases Total spending on fashion
products (apparel, shoes and accessories) decreased modestly by 2.5
percent to $1,699 per student annually on a year- over-year basis,
as compared to $1,742 during the fall 2003. Spending however, is up
a strong 17 percent from the spring 2004 survey and is the second
highest fashion spending indication since the inception of the
survey in spring 2001. In addition, spending on fashion products by
female students increased 15 percent as compared to the fall 2003
survey. The male students increased spending 17 percent
year-over-year on fashion products. In addition to surveying
students on their spending, Klinefelter and team also polled their
parents. Parents have tightened their spending on apparel for
themselves and their children over the past year and six-month
periods. Parents decreased the amount of money they spend on
apparel for their teens by 15 percent, versus fall 2003 and 23
percent, versus spring 2004. They also decreased the dollars spent
on themselves nine percent, versus fall 2003 and by 24 percent,
versus spring 2004. Piper Jaffray & Co. is the chief operating
subsidiary of Piper Jaffray Companies (NYSE:PJC), a focused
securities firm dedicated to delivering superior financial advice,
investment products and transaction execution within selected
sectors of the financial services marketplace. The company operates
through two primary revenue-generating segments: Capital Markets
and Private Client Services. Investment Research, an independent
group reporting to the CEO, supports clients of both segments.
Piper Jaffray & Co. has served corporations, government and
non-profit entities, institutional investors and the financial
advisory needs of private individuals since 1895. Headquartered in
Minneapolis, Piper Jaffray has approximately 3,000 employees in 111
offices in 23 states across the country and in London. For more
information about Piper Jaffray, visit us online at <
http://www.piperjaffray.com/ >. Since 1895. Member SIPC and
NYSE. Research Disclosures Piper Jaffray & Co. 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 . Customers
of Piper Jaffray in the United States can receive independent,
third-party research on the company or companies covered in this
report, at no cost to them, where such research is available.
Customers can access this independent research by visiting
piperjaffray.com or can call 800 747-5128 to request a copy of this
research. Research Disclosures The following disclosures apply to
securities mentioned in this report if and as indicated: (#) Piper
Jaffray was making a market in the Company's securities at the time
this research report was published. Piper Jaffray will buy and sell
the Company's securities on a principal basis. (^) A Piper Jaffray
analyst who follows this Company or a member of the analyst's
household has a financial interest (a long equity position) in the
Company's securities. (@) Within the past 12 months Piper Jaffray
was a managing underwriter of an offering of, or a dealer manager
of a tender offer for, the Company's securities or the securities
of an affiliate. (>) Piper Jaffray has received compensation for
investment banking services from the Company within the past 12
months. (
Piper Jaffray Companies (NYSE:PJC)
Historical Stock Chart
From Jul 2024 to Aug 2024
Piper Jaffray Companies (NYSE:PJC)
Historical Stock Chart
From Aug 2023 to Aug 2024