Did you know that teens are estimated to contribute roughly around $830 billion to retail sales in the United States alone?
With that, Piper Jaffray has started analyzing teen spending habits to help retailers win over this growing market.
And in Piper Jaffray’s latest biannual survey, they studied approximately 6,100 teens around the age of 16 years old.
During this study, they analyzed teens behavior in:
- spending patterns,
- fashion trends
- brand and media preferences
They found that Nike is still top dog when it comes to apparel and footwear, however Vans and adidas are gaining ground.
Michael Kors reigns supreme amongst teens in the handbag category and Amazon is king when it comes to shopping websites.
It also seems that the best way to market to teens is via Snapchat as 47% named the platform as their favorite social media app.