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Where Do Teens Dine? This Survey May Have The Answer

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Where Do Teens Dine? This Survey May Have The Answer

What better way to gauge the dining habits of teens than asking them directly?

Piper Jaffray has released its fall 2018 "Taking Stock With Teens" survey to gain a better understanding of Gen Z's spending habits.

The Analyst

Piper Jaffray's Nicole Miller Regan and a team of analysts discussed restaurants in a multisector report. 

The Thesis

Piper Jaffray's survey of 8,600 teens with an average age of 15.9 years found the following:

Restaurants account for 24 percent of all spending for upper-income teens.

2014 marked an inflection point where teens spent more money on food, and this gap has widened since then. 

Teens prefer limited-service restaurants that offer a "social experience" coupled with affordability.

The most preferred brand is Chick-fil-A, followed by Starbucks Corporation (NASDAQ: SBUX) and Chipotle Mexican Grill, Inc. (NYSE: CMG).

Starbucks: Muted Preference

  • Starbucks maintained a double-digit mindshare with upper-income teens at 12 percent versus 11 percent one year ago. 
  • The number of teens who prefer Starbucks is down from a Fall 2013 peak of 18 percent. 
  • Starbucks is most preferred at the cuisine level.
  • Starbucks' brand equity is akin to a social currency.

Chipotle: Steady Scores

  • Chipotle continues to hold onto the third-most preferred brand slot among upper-income teens.
  • The Chipotle brand is appealing again to average income teens at 4 percent mindshare versus no mentions last fall. 
  • Chipotle is also most preferred at cuisine level.

Related Links:

Survey: Snap Still Wins With Teens, But Slips In 2018 As Twitter, Instagram Make Gains

Piper Jaffray Upgrades Ulta; Survey Reveals Teens Spending More On Cosmetics

Posted-In: Fast Food Nicole Miller Regan Piper Jaffray TeensAnalyst Color Restaurants Analyst Ratings General Best of Benzinga

 

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