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Piper Jaffray: Nike, Vans, Amazon, Instagram Reign Supreme With Teens

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Piper Jaffray: Nike, Vans, Amazon, Instagram Reign Supreme With Teens
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Few know or follow trends better than teens.

Piper Jaffray’s semi-annual "Taking Stock With Teens" surveys this crucial demographic and found that overall spending by teens is up 1 percent year-over-year but down 5 percent from spring 2018. 

Food continues to be teens' top wallet priority, with 24 percent of the demographic's spending going to restaurants, according to Piper Jaffray. The survey found that Chick-Fil-A is the No. 1 restaurant among teens.

Brands continue to be important in the attraction of teen buyers, with 45 percent of respondents saying the brand is the most important factor in a purchase, up from 33 percent six years ago. The affinity for streetwear and 1990s logo brands continues to gain momentum, and Piper Jaffray is also seeing an uptick in European luxury brands.

Nike Inc (NYSE: NKE) continues its dominate position among the cohort, coming in as the top clothing and footwear brand.

VF Corp (NYSE: VFC)’s Vans came in second in footwear, its highest level ever in the survey, with 19 percent of respondents calling it their preferred brand. Vans was the No. 1 footwear brand among upper-income females.

Amazon.com, Inc. (NASDAQ: AMZN) is far and away the top shopping website among teens, with 47 percent calling it their top shopping website. The closest competitor was Nike.com, at just 5 percent.

Michael Kors Holdings Ltd (NYSE: KORS) was the top handbag brand at 30 percent, double its closest competitor Kate Spade, but accessories spending for females continues to decline, according to Piper Jaffray. 

Sephora and Ulta were tied as the top beauty destinations at 34 percent, and Tarte was named the top cosmetic brand.

Instagram is now the most-used social platform for teens, edging out incumbent Snap Inc (NYSE: SNAP), while Facebook, Inc. (NASDAQ: FB) is still declining.

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Latest Ratings for NKE

DateFirmActionFromTo
Oct 2018OppenheimerUpgradesPerformOutperform
Oct 2018HSBCDowngradesBuyHold
Sep 2018Bank of AmericaMaintainsUnderperformUnderperform

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Posted-In: Chick-fil-A Piper JaffrayAnalyst Color Crowdsourcing Analyst Ratings General Best of Benzinga

 

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