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Nike Dominates Teen Shopper Preference: Unveiling the Top Brands They Adore

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Nike Reigns Supreme Among Teen Shoppers: Unveiling the Most Beloved Brands

Teens, known for their ever-changing preferences, often serve as trendsetters for the wider population. Piper Sandler's biannual teen survey, which gathered responses from nearly 9,200 teenagers across 49 U.S. states, sheds light on their spending habits and brand preferences. Despite a slight decrease in self-reported annual spending compared to last year, Nike retains its position as the favorite brand for both male and female teens for the 12th consecutive year.

Apparel and Footwear Preferences

Teens are spending slightly less on clothing, with females outspending males by approximately $180. After Nike, American Eagle and Lululemon hold the second and third spots respectively. Shein, moving up to the fourth spot, has overtaken H&M, although its market share has declined by 1 percentage point. In terms of footwear, Converse ranks second behind Nike but experienced a 1 percentage point drop in market share. Adidas holds the third spot, while New Balance gained 2 percentage points to become the fourth favorite brand, surpassing Vans, which fell to fifth place. Crocs and Crocs-owned Hey Dude claim the sixth and seventh spots, respectively. On Running emerged as the eighth favorite brand, while Birkenstock, despite its imminent initial public offering, did not make the top 10.

Shopping Habits and Online Preferences

Teens are increasingly shopping at off-price retailers like T.J. Maxx, Ross Stores, Marshalls, and Nordstrom Rack, as well as online platforms. Specialty stores, discounters like Target and Walmart, outlets, and secondhand options are losing favor. Amazon dominates as the preferred online shopping site, with Shein coming in second but with only 7% of the share compared to Amazon's 59%. StockX and Temu have entered the top 10 after not making the list in the previous survey, while Princess Polly and GOAT have dropped out.

Fashion Trends and Beauty Spending

For females, "leggings/lululemon" remains the top fashion trend, followed by crop tops and jeans. UGG Australia boots, previously the second most popular trend, have dropped to sixth place. Among males, "Nike/Jordans" continues to hold the top spot, followed by athletic wear and "baggy/saggy pants." Hoodies have fallen to fifth place, while short shorts have emerged as a top trend for males in school. Teens are spending an average of $324 per year on beauty products, with cosmetics experiencing a significant 33% increase. e.l.f. remains the top makeup brand, followed by Selena Gomez's Rare Beauty and Maybelline. Skin care spending has grown by 19%, with CeraVe ranking as the top skin care brand. The Ordinary, owned by Estee Lauder, holds the second spot, and L'Oreal-owned La Roche-Posay has climbed two spots to third place. Fragrance spending has increased by 14%, with Bath & Body Works leading the category. Hair care spending has risen by 5%, with Olaplex as the favorite brand. In terms of beauty shopping destinations, Sephora has surpassed Ulta as the top choice after five years. Target, Amazon, and Walmart also rank among the top five, while T.J. Maxx has made the list for the first time. The insights from Piper Sandler's survey provide a comprehensive understanding of teen spending habits and brand preferences, offering valuable information for businesses aiming to capture this influential consumer group.

Teen Shopping Habits: Implications for New Business Ventures

Brand Preferences and Market Entry

The recent Piper Sandler survey highlights the brand preferences of teenagers, a demographic known for setting trends. Nike's continued dominance, despite a slight decrease in overall teen spending, underscores the power of brand loyalty. For new businesses, understanding this dynamic is crucial. While breaking into a market with established players like Nike or American Eagle may seem daunting, the rise of brands like Shein and On Running indicates that there's room for new entrants to make their mark.

Impact of Shopping Habits

The shift in teen shopping habits towards off-price retailers and online platforms is another important trend. As teens move away from specialty stores and discounters, new businesses must consider these preferences when planning their market entry strategy. The dominance of Amazon as the preferred online shopping site is a testament to the importance of a strong online presence.

Fashion Trends and Beauty Spending

Understanding current fashion trends, such as the popularity of "leggings/lululemon" among females and "Nike/Jordans" among males, can guide new businesses in product development and marketing. The significant increase in beauty spending, particularly in cosmetics, suggests potential growth opportunities in this sector. The rise of e.l.f. and Selena Gomez's Rare Beauty underscores the potential for new brands to gain a foothold in this market.

Lessons for New Businesses

The insights from the Piper Sandler survey offer valuable lessons for new businesses. Understanding the preferences and spending habits of influential consumer groups like teenagers can inform strategic decisions, from product development to marketing and distribution. As the retail landscape continues to evolve, staying attuned to these trends will be crucial for new businesses aiming to succeed in this competitive market.
Story First Published at: https://www.cnbc.com/2023/10/10/nike-american-eagle-lululemon-among-favorite-brands-for-teens-survey.html
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