Where Do Teens Dine? This Survey May Have The Answer

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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 SBUX and Chipotle Mexican Grill, Inc. CMG.

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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

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Posted In: Analyst ColorRestaurantsAnalyst RatingsGeneralFast FoodNicole Miller ReganPiper JaffrayTeens
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