Who woulda thought it was possible to shift aside the beloved java joint in teen consumers’ hearts?
Well, actually, teens do still love their Starbucks. However, for the first time in seven years, it isn’t their absolute top eating-out spot, according to the semi-annual Piper Jaffray Taking Stock With Teens® survey (2017).
So if you’re wondering which food/drink joint you might want to greenlight on your teen’s debit card—or which gift cards to buy for upcoming birthdays and other occasions—here’s the scoop:
Chick-fil-A. Yep, this national chicken sandwich franchise now ties with Starbucks as upper-income teens’ favorite place for eating out. However, Starbucks is still holding its own and is the number-one eatery (by a good margin) among average-income teens. Chipotle, Buffalo Wild Wings and Panera are next in popularity.
Some other interesting survey findings:
- Food is first, followed by clothes. According to the Piper Jaffray survey, the average teen spends 24% of their money on food. Clothes are next, accounting for 19% of teens’ spending. A bit farther down the list are car expenses (9%), accessories and cosmetics (also 9%), shoes and video games (8% each) and electronics at 7%. The rest of teens’ money goes to music, movies, and events.
- Teens are clothing-label-loyal, and Nike is number one. No matter what income level their family falls into, teens are huge fans of the Nike swoosh when it comes to clothing (31% of the market). Other popular teen clothing brands this year include American Eagle, Forever 21, lululemon, Adidas, and H&M.
- Nike is tops in shoes, too. Nike owns the footwear market with a 52% teen market share. The next-most-popular footwear brand is Vans, followed by Adidas, Converse and Steve Madden.
- Under Armour and Aeropostale are losing out. These two brands top teens’ lists of clothing labels they no longer wear. Aeropostale filed for bankruptcy last year, but is attempting to keep selected stores open.
- Amazon is their favorite web retailer. Teens rate Amazon.com as their top online shopping stop (43%), followed by Nike.com (5%).
- Michael Kors is tops for handbags. A third of teen buyers prefer this purse brand, with Kate Spade next at 19%
You can read the full teen spending study on Business Wire.
(photo courtesy © Geoff Livingston cc2.0)