MINNEAPOLIS--(BUSINESS WIRE)--Oct. 10, 2023-- Piper Sandler Companies (NYSE: PIPR), a leading investment bank, completes its 46th semi-annual Taking Stock With Teens^® survey in partnership with DECA. Piper Sandler equity research has more than 60 million data points around teen preferences and spending in the 22 plus years of researching teens.

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The fall 2023 survey was conducted from September 4 to September 27. To see the full list of key findings, view the report summary and request the full survey report, visit pipersandler.com/teens.

Fall 2023 Key Findings

• Teen “self-reported” spending was down 1% Y/Y to $2,316. A spending decrease has not been seen from this survey since before the COVID-19 pandemic.
• e.l.f. Beauty, Inc. remains the top cosmetics brand, increasing 13 points Y/Y to 29% for female teens.
• NIKE, Inc. maintains its position as the number one favorite brand among teens in both apparel and footwear, with 35% and 61% mindshare respectively.
• Chick-fil-A, Inc. stays the highest ranked restaurant at 16% share.
• Inflation is now the number two social concern, coming in at 9% among teens.

“Our survey points to initial signs of a slowdown in teen spending. Inflation reached its highest mindshare in terms of political and social issues, right behind the environment,” said Edward Yruma, senior research analyst.

Males lead the spending increase as NIKE, Inc., lululemon athletica inc. and American Eagle Outfitters Inc. rank among the top clothing brands for teens. Female spending was down overall with specific decreases across apparel and shoes but counteracted with strength in accessories spending.

The core beauty wallet (cosmetics, skincare and fragrance) stood at $324/year with cosmetics leading at +33% Y/Y. Sephora showed impressive gains as they surpass Ulta Beauty, Inc., becoming the number one preferred beauty shopping destination with a loyalty membership of 67%.

The iPhone continues to reign as 87% of teens own one and 88% expect the iPhone to be their next mobile device. TikTok improved by 80 bps compared to spring 2023 as the favorite social platform among teens along with Snap Inc. ranking second and Instagram ranking third.

Piper Sandler Taking Stock With Teens^® survey is a semi-annual research project that gathers input from 9,193 teens with an average age of 15.7 years. Discretionary spending patterns, fashion trends, technology, and brand and media preferences are assessed through surveying a geographically diverse subset of high schools across the U.S. Since the project began in 2001, Piper Sandler has surveyed more than 248,283 teens and collected over 60.7 million data points on teen spending.

ABOUT PIPER SANDLER

Piper Sandler Companies (NYSE: PIPR) is a leading investment bank driven to help clients Realize the Power of Partnership®. Securities brokerage and investment banking services are offered in the U.S. through Piper Sandler & Co., member SIPC and NYSE; in the U.K. through Piper Sandler Ltd., authorized and regulated by the U.K. Financial Conduct Authority; and in Hong Kong through Piper Sandler Hong Kong Limited, authorized and regulated by the Securities and Futures Commission. Alternative asset management and fixed income advisory services are offered through separately registered advisory affiliates.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20231010273091/en/

Pamela Steensland
Tel: 612 303-8185
pamela.steensland@psc.com

Source: Piper Sandler Companies