DOCSLIB.ORG

FALL 2020 Taking Stock with Teens® 20 Years of Researching U.S

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
FALL 2020 Taking Stock with Teens® 20 Years of Researching U.S FALL 2020 Taking Stock With Teens® 20 Years Of Researching U.S. Teens GenZ Insights Piper Sandler does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decisions. This report should be read in conjunction with important disclosure information, including an attestation under Regulation Analyst Certification, found on pages 78 - 80 of this report or at the following site: http://www.pipersandler.com/researchdisclosures. Investment Risks Risks to achievement of investment objectives include, but are not limited to, the following: • Reliance on key top management • Changing consumer preferences • Changes in input costs and raw materials • Markdown risks • Product flow and inventory disruptions • Competition • Lack of pricing power • Deleveraging of fixed expenses • Foreign exchange rate risk • General macroeconomic uncertainty 2 | Taking Stock With Teens Survey - Fall 2020 Results Piper Sandler Investment Research Table of Contents 01 02 03 04 Executive Teen Behavior & Teen Brand Demographics & Summary Habits Preferences Appendices • Demographics • Gen Z Insights • Historic No. 1 Ranks • Survey Demographics • 20 Years of Teen • Top Social Media • Apparel & Footwear • Spending Breakdown Research • Spending Trends • Top Fashion Trends & Channel Trends • Key Takeaways • Channel Preferences • Up- & Downtrending • Top Brand Time Series • Views on the Economy • Secondhand & Rental • Accessories • Top Athletic Brands • COVID-19 Insights • Fashion Casualization • Beauty • Social Media History • Stock Highlights • Content Consumption • Websites • Content Consumption History • Smartphone Trends • Amazon Prime • Meet Our Senior • Video Games • Restaurants Analyst Team • Snacks • Plant Based Meat Piper Sandler Investment Research Taking Stock With Teens Survey - Fall 2020 Results | 3 40th Semi-Annual Proprietary GenZ Research Project TEENS 9,800 SURVEYED 15.8 AVERAGE AGE 51% 48% U.S. 1% 48 STATES MALE FEMALE NON-BINARY $67,500 24% AVERAGE HOUSEHOLD INCOME 42% 24% 10% TEENS CURRENTLY PART-TIME EMPLOYED 33% SOUTH WEST MIDWEST NORTHEAST Survey is executed in partnership with DECA The source for all charts/tables within this report is Piper Sandler. Executive Summary Teen Behavior & Habits Teen Brand Preferences Demographics & Appendices 4 | Taking Stock With Teens Survey - Fall 2020 Results Piper Sandler Investment Research Commemorating 20 Years Of Teen Research 2001 – 2020 – Fallin’ – Alicia Keys WAP – Cardi B Week 4 September George W. Bush Donald Trump COVID-19, September 11, 2001 Current Affairs George Floyd, Breonna Taylor Generation Gen Y Gen Z Survey Size N=300; 10 States Taking Stock N=9,800; 48 States with Teens Top Brands Gap, Abercrombie & Nike, American Eagle, Fitch, Express adidas Executive Summary Teen Behavior & Habits Teen Brand Preferences Demographics & Appendices Piper Sandler Investment Research Taking Stock With Teens Survey - Fall 2020 Results | 5 Key Takeaways – Demographics & Spending • This Fall marks 20 consecutive years of conducting primary research on the U.S. teen on a semi-annual basis • Our 40th semi-annual survey was conducted between August 19 & September 22 • Regional responses impacted by school start dates: 42% in the South (vs. 44% Spring); NE at 10% (same as Spring) • As a result of COVID-19, 76% of teens went back to school either in a hybrid format or fully virtual • 8% of teens or an immediate member in their household have had COVID-19 (vs. national average of 6%) • 48% of teens believe the economy is getting worse vs. 47% in Spring & 32% last Fall • Teen “self-reported” spending at an all-time survey low of $2,150, down 5% sequentially & 9% Y/Y • Areas of wallet share contraction included: Food (but still No. 1 priority) & Concerts/Events • Areas of wallet share expansion included: Video Games, Movies & Furniture/Room Accessories • Cosmetics spending for females down 20% Y/Y; skincare for females down only 3%; skincare for males up 12% • In the next six months, teen intent to dine-in & fly on a plane is higher & to visit a retail store is lower • Secondhand represents 8% of shopping time allocation, taking share from off-price, specialty & dept. stores Executive Summary Teen Behavior & Habits Teen Brand Preferences Demographics & Appendices 6 | Taking Stock With Teens Survey - Fall 2020 Results Piper Sandler Investment Research Key Takeaways – Brand & Preference Rankings • Chick-Fil-A is No. 1 restaurant; Chipotle posted steady brand gains while Dunkin’ moved up to No. 4 • 18% of teens consume plant-based meat with Impossible Foods as the No. 1 choice • Video games are 10% of total teen wallet share—new survey high; 63% expect to purchase a NextGen console • Teens spend 34% of their daily video consumption on Netflix (gained share) followed by YouTube • 54% of teens cite Amazon as their No. 1 favorite e-com site; SHEIN took No. 2 spot for first time (ahead of Nike) • Ulta gained 400 bps of share as No. 1 beauty destination with 42% share; Target gained share; Amazon stays top-five • Handbag spending at $87, a new low in survey; Louis Vuitton unseats Michael Kors for No. 1 spot; Coach gained share • 86% of teens own an iPhone and 89% expect an iPhone to be their next phone; both new all-time highs • Snapchat is the favorite social media platform (again) but Instagram fell from No. 2 to No. 3 as TikTok moved up to No. 2 • Significant movement in top social & political issues led by Racial Equality, Environment & Black Lives Matter • Teens’ favorite celebrity is Kevin Hart and most followed influencer is David Dobrik Executive Summary Teen Behavior & Habits Teen Brand Preferences Demographics & Appendices Piper Sandler Investment Research Taking Stock With Teens Survey - Fall 2020 Results | 7 Teen Perspective Of The Broader Economy 60% 52% 48% 50% 40% 30% 28% 20% 10% 0% Spring Fall Spring Fall Spring Fall Spring Fall Spring Fall Spring Fall Spring Fall Spring Fall Spring Fall Spring Fall 2011 2011 2012 2012 2013 2013 2014 2014 2015 2015 2016 2016 2017 2017 2018 2018 2019 2019 2020 2020 Getting Better Getting Worse • 48% believe the economy is getting worse—this compares to 47% in Spring and 32% from Fall 2019 • 76% of teens have returned to school in either a hybrid or a fully-virtual format this Fall • 33% of teens have a part-time job—this is down from 37% in Spring 2020 and 35% in Fall 2019 • 23% of teens indicated that COVID-19 has impacted their ability to find work Executive Summary Teen Behavior & Habits Teen Brand Preferences Demographics & Appendices 8 | Taking Stock With Teens Survey - Fall 2020 Results Piper Sandler Investment Research COVID-19 Insights Employment Impact Lockdown Unlocked Did COVID-19 impact Since COVID… your part-time job or • 84% Visited a retailer ability to work? • 72% Dined-in a restaurant • 11% Flew on a plane NO: 77% In the Next 6 Months… • 81% Plan to visit a retailer YES: 23% • 77% Plan to dine-in • 33% Expect to fly on a plane 47% Returned to School Virtually 24% 64% Returned to School In-Class Would take a Vaccine when available 29% Returned in a Hybrid Format COVID-19 Vaccine Back to School Executive Summary Teen Behavior & Habits Teen Brand Preferences Demographics & Appendices Piper Sandler Investment Research Taking Stock With Teens Survey - Fall 2020 Results | 9 Stock Highlights: Global Lifestyle Brands Erinn Murphy, Managing Director | Sr. Research Analyst NKE (+) HAS HELD ITS NO. 1 POSITION FOR 10 CONSECUTIVE YEARS; GAINS FURTHER SHARE Nike has been the No. 1 apparel brand in our survey for 10 years and further strengthened its lead at 27% share—up 400 bps vs. LY. As a preferred footwear brand, Nike represents 52% of teen preference gaining a substantial 1,000 bps share. Nike ranks as the top trend for teens with popular responses including AirForce 1s & Jordans. It is the No. 1 preferred athletic apparel & footwear brand among upper-income teens at 60% and 74% share, respectively. LULU (+) BRAND HITS NEW SURVEY PEAK AS NO. 6 PREFERRED APPAREL BRAND lululemon is the No. 6 preferred apparel brand in our survey—moving up from No. 7 in Fall 2019. Among all females, it ranked No. 4 vs. No. 6 last year. Among upper-income females, it ranks No. 2 (behind AE) reaching 10% share. It ranked No. 8 among upper-income males vs. No. 9 last year. Leggings/lululemon are the No. 1 trend for females in school and lululemon is the No. 2 athletic apparel brand behind Nike—gaining 300 bps share Y/Y. ELF (+) REGISTERS ALL TIME HIGH IN SURVEY e.l.f. is the No. 2 preferred makeup brand for all teens—up from No. 4 last year and marks its highest ranking to-date in our survey. We believe this has been fueled by the significant success the brand has had on TikTok. While not in the top-ten, it ranks No. 17 as a preferred skincare brand (vs. 16 last year); we note skincare is only 9% of tracked channel sales but 25% of dot com sales (as of Q1). We are pleased to see its core channels (ULTA, TGT, WMT & AMZN) all in the top-five preferred beauty shopping destinations. ULTA (+/=) NO. 1 PREFERRED BEAUTY DESTINATION STRENGTHENS LEAD VS. SEPHORA ULTA continues to be in the best position to gain market share as we progress through the pandemic. It is the No. 1 beauty destination among teens at 42% share—up 400 bps from last year. Relative to No. 2 Sephora, it strengthened its lead, now 22 percentage points ahead vs. 15 percentage points last year. It took lead over Sephora among upper-income teens as well for the first time in our survey history. 86% of teens still prefer stores for beauty.
Load more

Recommended publications
  • 'Springs' Eternal
    Kindle Cover, $8 In Today’s Classifieds! AND WEEKLY Charlotte Sun HERALD ROARING TO A MAJOR VICTORY JAMES GARNER DIES AT 86 Rory McIlroy holds on to win the British Open and become the The actor was best known for his low-key, wisecracking style, especially third golfer to win three majors by the age of 25. SPORTS PAGE 1 on his hit TV series, “Maverick” and “The Rockford Files.” THE WIRE PAGE 1 An Edition of the Sun VOL. 122 NO. 202 AMERICA’S BEST COMMUNITY DAILY MONDAY JULY 21, 2014 www.sunnewspapers.net $1.00 HACKIN’ AROUND Hope Some regrets ‘A brain erase’ can hit home ‘Springs’ recently read a story somewhere eternal about regrets. I don’t recall the details or even the I By IAN ROSS context, except it was about how most people in their lives STAFF WRITER have regrets. Most of us prob- NORTH PORT — As the Warm ably would have Mineral Springs Day Spa’s manage- done something ment contract nears the end of its different, if we’re term, city staff are working to prevent honest. its closure. The number “We’re still working on trying to one regret was not make it happen so that the Springs saving more money doesn’t close,” said North Port City for retirement. Manager Jonathan Lewis. John I can really The Springs is set to close again relate to that one. Aug. 31 because the city and Sarasota HACKWORTH I may be working County, joint owners of the 81- EDITOR another 10 years acre property and its 87-degree, (hope that’s OK, boss?).
    [Show full text]
  • Taking Stock with Teens Survey
    HIGHLIGHTS FROM OUR 40TH SURVEY February 2021 Taking Stock With Teens® A Collaborative Gen Z Insights Project Piper Sandler does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decisions. This report should be read in conjunction with important disclosure information, including an attestation under Regulation Analyst Certification, found at the end of this report or at the following site: http://www.pipersandler.com/researchdisclosures. Disclosures for the universe of Erinn Murphy 1. I or a household member has a financial interest in the securities of the following companies: none 2. I or a household member is an officer, director, or advisory board member of the following companies: none 3. I have received compensation within the past 12 months from the following companies: none 4. Piper Sandler beneficially owns 1% or more of a class of the following companies: none 5. Piper Sandler has had a client relationship or has received compensation for investment banking services from the following companies within the past 12 months: none 6. Piper Sandler expects to receive or intends to seek compensation for investment banking services from the following companies in the next 3 months: none 7. Piper Sandler was a managing underwriter of a public offering of, or a dealer manager of a tender offer for, the securities of the following companies within the past 12 months: none 8.
    [Show full text]
  • 30 Companies Defining the Future of Media & Pop Culture
    30 Companies Defining the Future of Media & Pop Culture May 2020 Trung Phan @TrungTPhan Summary This presentation was put together by Trung Phan. Send questions or comments via email or Twitter. It was inspired by Blake Robbins’ Twitter thread highlighting the companies shaping the future of media & pop culture. Blake is a partner at early-stage venture fund Ludlow Ventures. Follow him on Twitter and subscribe to his newsletter on Substack. Blake, You A Legend! Content An Overview 1 We break down 30 companies defining the future of media and pop culture, dividing them into 8 categories. The Playbook 2 We describe 9 key strategies these companies are using to reshape the media landscape. Company Analysis 3 We identify key facts, useful resources, videos and other smart content + the “secret sauce” behind these companies. Dozens of hours were spent researching these 30 “future of An Overview media” companies. This analysis breaks down what makes them great, and divides them into 7 categories. SUPER CREATORS STREETWEAR/RETAIL VIDEO David Dobrik (Vlog Squad) Chinatown Market Brat TV KSI (SDMN) Madhappy Crunchyroll Mr. Beast Pizzaslime Nelk Boys YouTooz Overtime Shots Studio MEDIA BRANDS Barstool Sports INFLUENCER HOUSES Yes Theory Bon Appétit Hype House Complex Lunchclub NO CATEGORY Food52 Offline TV Brud FuckJerry Sway House MSCHF OnlyFans MUSIC eSPORTS/LIFESTYLE 88 Rising 100 Thieves Genius FaZe Clan Lyrical Lemonade Below are different strategies these companies are using The Playbook to define the future of media. CONTENT + COMMERCE LIKE… MASTER THE MEDIUM LIKE… SURFACE NEW TALENT LIKE… Barstool Sports does with Mr. Beast does by solving Lyrical Lemonade does with booze (eg.
    [Show full text]
  • They, Them, and Theirs Contents
    THEY, THEM, AND THEIRS Jessica A. Clarke CONTENTS INTRODUCTION ............................................................................................................................ 896 I. NONBINARY GENDER ............................................................................................................ 904 A. The Diversity of Nonbinary Gender Identities ............................................................ 905 B. Reasons for Bias Against Nonbinary People ................................................................ 910 C. Convergences and Divergences with Other Rights Struggles ..................................... 914 1. Feminist Arguments .................................................................................................... 915 2. Transgender Rights ...................................................................................................... 921 3. Sexual Orientation ...................................................................................................... 925 4. Intersex Variations ...................................................................................................... 928 5. Antiracist and Postcolonial Struggles ....................................................................... 930 II. A CONTEXTUAL APPROACH TO NONBINARY GENDER RIGHTS ............................... 933 A. Against Universal Definitions of Sex and Gender ....................................................... 933 B. Regulatory Models for Nonbinary Gender Rights ......................................................
    [Show full text]
  • They, Them, and Theirs*
    ARTICLE AWARDS WINNERS They, Them, and Theirs* JESSICA A. CLARKE** Abstract Nonbinary gender identities have quickly gone from obscurity to prominence in American public life, with growing acceptance of gen- der-neutral pronouns, such as “they, them, and theirs,” and recognition of a third-gender category by U.S. states including California, Colorado, Minnesota, New Jersey, Oregon, and Washington. People with nonbinary gender identities do not exclusively identify as men or women. Femi- nist legal reformers have long argued that discrimination on the basis of gender nonconformity—in other words, discrimination against men per- ceived as feminine or women perceived as masculine—is a harmful type of sex discrimination that the law should redress. But the idea of nonbi- nary gender as an identity itself appears only at the margins of U.S. legal scholarship. Many of the cases recognizing transgender rights involve plaintiffs who identify as men or women, rather than plaintiffs who seek * Originally published in the Harvard Law Review. This piece has been repro- duced as originally published. With the exception of this attribution note and updated internal cross-references throughout, the Dukeminier Awards Journal editorial board has not edited this piece in any way, including reviewing citations for accuracy or oth- erwise ensuring that they conform to any particular style of citation. ** Professor of Law, Vanderbilt University Law School. Thanks to Toby Adams, Bradley Areheart, Genny Beemyn, Stephanie Bornstein, Mary Bryson, Erin Buzuvis,
    [Show full text]
  • By: Spencer Cornelia
    By: Spencer Cornelia 1 Please Read I am offering this eBook FREE because I want everyone to access it and have a chance at learning how to earn your first 1,000 subscribers on YouTube. If you receive value from this eBook, I am accepting donations. If you’d like to donate and support the creation of this material, then you can donate in any of the following ways: Donation Amounts: $5 / $25 / $50 / $100 / $250 / $500 Venmo: @Spencer-Cornelia Cash App: $SpencerCornelia Paypal: [email protected] ​ Coinbase (Ethereum): 0x8443c1af59E77a956E43727a75D54EBFc1BF99B3 Coinbase (Bitcoin): 3QphERCVz9Wm5qW4vtag1Y1S911ZezdVQD ​ If you’d like to join my monthly membership for access to a Private Discord Community, Monthly Coaching Calls, and Access to having all of your questions answered, then you can join the VIP YouTube Coaching Patreon membership here: https://www.patreon.com/spencercornelia ​ 2 Module 0: Intro Setting Expectations Being a content creator on YouTube has become a legitimately glorified career in the past few years. Myself and many other creators are comfortable sharing our earnings from ad revenue on the platform and many of us are earning incomes in the top percentages in America. In some rare cases, YouTubers are making as much money as top professional athletes and entertainers. If you can figure out the game of YouTube and build up an engaged audience, then you absolutely can achieve whatever outcome it is you’re looking for. Some are in it for the money, some just want to build up an audience to feel important, and some are treating the platform like a business.
    [Show full text]
  • Russia Military Strategy
    Cover The cover illustration highlights the words Russia and military strategy. The General Staff and the Academy of Military Science continue to keep strategic thought in sync with future war scenarios and high-tech developments, such as hypersonic missiles. The subtitle informs that military reform is designed to incorporate new weaponry and organizational shifts into the force. The objects clutched by the double-headed eagle signify Russia’s reform progress from the era of Kalashnikov rifles to the era of digital input guaranteeing the “informationization” of military equipment. Geopolitical initiatives ensure that Russia looks out for its strategic interests. The views expressed in this document are those of the author and do not reflect the official policy or position of the Department of Defense or the US government. The author works for the Foreign Military Studies Office (FMSO), Fort Leavenworth, Kansas. FMSO is a component of the US Army's Training and Doctrine Command (TRADOC) G-2. FMSO does unclassified research and analysis of foreign perspectives of the operational environment. TABLE OF CONTENTS INTRODUCTION .................................................................................. 1 CHAPTER ONE: VLADIMIR PUTIN: PATRIOT, ZEALOT, OR THREAT? ............................................................................................... 7 Introduction .......................................................................................... 7 Putin’s Personality ...............................................................................
    [Show full text]