Thank you to all the chapters and members who participated in the Fall 2021 Piper Sandler Taking Stock With Teens® survey!
Congratulations to the top 10 participating DECA associations:
- New Jersey
Check Out These Key Findings
- 38% of teens hold a part-time job, up from 33% in Spring 2021 and Fall 2020
- 91% of teens this went back to school in-person this fall; 5% resumed in a hybrid format and 4% remain virtual
- Clothing (22% of wallet share) is the number one priority for the first time since Fall 2014, surpassing food at number two (21%)
- Spending within beauty is evolving, with an increase for haircare (+8%) and fragrance (+14%) since Spring 2021.
- Teens allocate 8% of their shopping time to secondhand purchases; 51% of teens have purchased and 62% have sold secondhand
- The top three favorite restaurants for teens are Chick-Fil-A (number one), Starbucks and Chipotle
- 14% of teens consume plant-based meat with Impossible Foods as the number one brand
- Teens spend 32% of their daily video consumption on Netflix, followed by YouTube at 30%
- Cash is (still) king for teens as top payment method, followed by Apple Pay
- Nike is the number one apparel and footwear brand for teens
- 87% of teens own an iPhone and 88% expect an iPhone to be their next phone; Apple is also the number one watch brand for the first time
- Snapchat is the favorite social media platform (35%), followed by TikTok (30%) and Instagram (22%)
Watch as Erinn Murphy of Piper Sandler discusses the firm’s latest survey on teen spending on CNBC, including which retail and clothing brands continue to dominate the list.
The Piper Sandler Taking Stock With Teens® survey is a semi-annual research project that gathers input from 10,000 teens with an average age of 15.8 years. Discretionary spending patterns, fashion trends, technology and brand and media preferences are assessed through surveying a geographically diverse subset of high schools across the U.S. Since the project began in 2001, Piper Sandler has surveyed more than 211,800 teens and collected over 53.1 million data points on teen spending.
Piper Sandler is a leading investment bank and asset management firm. Our proven advisory teams combine deep product knowledge with sector expertise. Founded in 1895, the firm is headquartered in Minneapolis and has offices across the U.S. and internationally.