Eighty-eight percent of teens own an iPhone and 90% expect an iPhone to be their next phone, according to The Piper Sandler Taking Stock With Teenssurvey. Both are all-time highs. Other highlights from the report:
- Cash is (still) king for teens as top payment method followed by Apple Pay; Venmo is the most used payment app.
- 9% of teens claim to have traded cryptocurrency; 81% of these teens are male.
- Nike is the No. 1 fashion and footwear brand for teens.
- Snapchat is the favorite social media platform (31% share) followed by TikTok (30%) and Instagram (24%).
- Chick-Fil-A is the No. 1 restaurant, Starbucks No. 2, and Chipotle. Teens’ favorite celebrity is Kevin Hart and most followed influencer is David Dobrik.
The Piper Sandler Taking Stock With Teenssurvey is a semi-annual research project that gathers input from 7,000 teens with an average age of 16.1 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 says it’s surveyed more than 201,800 teens and collected over 49.7 million data points on teen spending.