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Piper Sandler released its 47th semi-annual Taking Stock with Teens survey on Tuesday.
In footwear, Nike (NKE) remained the overall favorite footwear brand, but the company's year-old involvement as New Balance took a big jump. Nike (NKE)) The Converse brand lost the largest share in footwear over the last year. Outdoor Deckers (DECK) HOAK and On Running brand (ONON) also gained market share at the expense of Nike (OF).
In cosmetics and beauty, elf Beauty (ELF) expanded its dominant position among teens, while Sephora overtook Ulta Beauty (ULTA). Beauty consumers still prefer to shop in-store rather than online, according to Piper Sandler's survey. In particular, Target (TGT) improved its standing among teens in the survey.
There was a notable change in teens' restaurant preference rankings. Chick-fil-A remained the favorite restaurant with a 16% share, but McDonald's (MCD) jumped to the number two spot and Chipotle (CMG) ranked as the third favorite restaurant pick. Raising Cane also ranked much higher than a year ago.
In snacks, Campbell Soup's (CPB) Goldfish topped the list, followed by PepsiCo's (PEP) Lays and Kellogg's (K) Cheeze-it.
Celsius Holdings (CELH) was a top performer in the teen survey, with 17% citing the Celsius brand as their favorite energy drink brand vs. total market share of ~12%. Monster Beverage (MNST) and Red Bull are underindexed among teens compared to their total market share.
Starbucks (SBUX) and Bath & Body Works (BBWI) also held dominant positions in mental engagement among teens in their respective categories.
“Our survey results indicate a slight sequential increase in teen spending since fall 2023, but self-reported spending is down 6% year over year, well below pre-pandemic levels. We are seeing some significant changes in brand preferences, including the rise “Brands will have to be agile to keep up,” said Abbie Zvejnieks, an analyst at Piper Sandler.
