A new consumer research survey smells like teen spirit.
Analyst firm Piper Jaffray revealed the results of its latest semi-annual Teen Research Project after collecting upwards of 5,500 responses nationwide. Subjects, whose average ages were 16, were asked to note their spending patterns, brand preferences and favorite product trends.
The survey uncovered that overall teen spending is down 2.4 percent from fall 2016, among several other findings in regard to retail, footwear and social media. Below are several notable takeaways from the report:
1. Nike remains the footwear favorite for over 50 percent of respondents — an all-time survey high. It also was the favorite apparel brand for the fourth season in a row.
2. Converse left its former spot as the third most preferred footwear brand, falling to fourth behind Adidas, Vans and Nike.
3. Athletic brands led the pack for apparel favorites. Nike, Lululemon and Adidas were among respondents’ top 5 favorite clothing brands, with a collective share of 41 percent.
4. Adidas is noted as the fastest-growing brand across both footwear and apparel. Ranking slightly behind Vans and Nike in the footwear category, the label hit a 10-year high among male teenagers and an all-time high among female teens.
5. Female teenagers spend more money on clothing than male teenagers, by 9 percent.
6. Amazon remains the choice among e-commerce platform, by 38 percent.
7. While teens still do the majority of their shopping with brick-and-mortar retailers, their time spent on e-tail sites increased by 2 percent.
8. Snapchat is the dominant social platform, followed by Instagram and Twitter. Facebook, however, declined in popularity by 2 percent, putting it in the fourth spot.
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