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Piper Sandler Completes 47th Semi-Annual Taking Stock With Teens® Survey

Over 6,000 Generation Z U.S. Teens Surveyed

Piper Sandler Companies (NYSE: PIPR), a leading investment bank, completes its 47th semi-annual Taking Stock With Teens® survey in partnership with DECA. The Piper Sandler equity research team now has more than 61 million data points around teen preferences and spending in the 23 plus years of researching teens. To see the full list of key findings, view the report summary and request the full survey report, visit pipersandler.com/teens.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240409532694/en/

“We are excited to share the results of our spring 2024 Taking Stock With Teens® survey which offers an in-depth look at how Gen Z is impacting our overall economy through their spending habits. Our survey results indicate a slight increase in teen spending sequentially from fall 2023, but self-reported spend is down 6% year-over-year, well below pre-pandemic levels. We are seeing some significant shifts in brand preferences including the rise of smaller, innovative brands which are taking share from incumbents. We think social media has led to an accelerated trend cycle including an increased emphasis on key products, and brands will have to be nimble to keep up,” said Abbie Zvejnieks, senior research analyst at Piper Sandler.

Clothing and footwear

Nike remains the number one brand for all teens in both apparel and footwear, however Nike is beginning to lose share across categories to players such as On Running, HOKA and New Balance. Lululemon Athletica remains the number two athletic apparel brand among upper-income teens, but we are seeing up and coming players such as Alo Yoga and Vuori start to gain some share.

Beauty

The core beauty wallet reached its highest level since spring 2018 at $339 with growth across all categories. e.l.f. Beauty continues to dominate the space, ranking number one among teens in addition to ranking in the top 10 skincare brands and beauty destinations. Teen beauty consumers continue to prove their preference of in-store shopping versus online with 85% showing a preference for in-store purchases.

Technology and social media

While TikTok remains the number one favorite social media platform, Instagram made a strong improvement this spring, taking the number two spot from Snapchat. Netflix returned as the leader in daily video consumption for teens with 29% share.

Restaurants and Food

Our spring survey features a new category which measures preferences of coffee, tea or beverage chains. Starbucks ranked first among teens with 37% share. Chick-fil-A remains the number one favorite restaurant. In the energy drink space, Celsius over indexes with teens (~17% teen mindshare compared to ~12% market share), while Red Bull and Monster under index.

ABOUT PIPER SANDLER

Piper Sandler Companies (NYSE: PIPR) is a leading investment bank driven to help clients Realize the Power of Partnership®. Securities brokerage and investment banking services are offered in the U.S. through Piper Sandler & Co., member SIPC and NYSE; in the U.K. through Piper Sandler Ltd., authorized and regulated by the U.K. Financial Conduct Authority; and in Hong Kong through Piper Sandler Hong Kong Limited, authorized and regulated by the Securities and Futures Commission. Alternative asset management and fixed income advisory services are offered through separately registered advisory affiliates.

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©2024. Since 1895. Piper Sandler Companies. 800 Nicollet Mall, Minneapolis, Minnesota 55402-7036

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