Marketers can use the research as a way to prepare for the future
By KENDALL MOON/Murphy News Service
Male teens spend more on video gaming than female teens spend on shoes, according to a recent Piper Jaffray survey.
Piper Jaffray, an investment bank and asset management firm, conducted the survey recently, polling U.S. teens on their spending habits and favorite brands. A helpful infographic can be viewed here.
Jennifer Stoner, Ph.D. candidate in the Carlson School of Management, said the survey is an indicator of the markets future buyers.
“Marketers really need to use this as a way of seeing what [teens are] spending, how they’re spending and use that as a way to prepare for the future, if not now,” she said.
Piper Jaffray analysts were able to assess the top fashion, beauty, media and device picks for teens averaging age 16.
U.S. teens rated Starbucks as their top restaurant, Nike as their top shoe brand and MAC as their top beauty brand for 2015, according to the survey.
Consistent with the survey, University of Minnesota biology freshman Jake Peterson said Nike would be his top shoe pick, followed by Polo and Adidas.
Through classroom visits and electronic surveys, analysts surveyed 9,400 teens, with an average household income of $68,000.
Of that group, they surveyed 2,700 teens who were classified under the upper-income group, with a household income averaging at $107, 000. This is in comparison to the 6,700 teens surveyed in the average-income group, with an average income at $52,000.
The average-income group aligned more closely with the national average income, which is $53, 891, but Stoner said it was interesting the survey didn’t also include a lower-income group.
The research showed American Eagle Outfitters is the only brand to show up on the top-10 list for all 30 surveys conducted for the Taking Stock With Teens project.
AEO currently sits at No. 2 and No. 3, respectively, for upper- and average-income males and females, according to the survey.
“It doesn’t mean as much for their strategy as much as it does keeping an eye on what their competitive environment looks like.” Stoner said.
Kendall Moon is studying journalism at the University of Minnesota.