87 percent of American teens own an iPhone, To new survey Of the 10,000 youth of investment bank Piper Sandler.
why it matters: The economy is going mobile as the next generation of consumers shop for clothes, watch TV and meet romantic partners almost exclusively on their phones.
What are you saying: Not only are today’s teens more tech-forward, their preferences and spending habits also deviate from their millennial predecessors—and their likes and dislikes tell us what brands will flourish in the future.
- They care about consistency: According to the survey, 51% of teenagers have bought secondhand items and 62% have sold their own.
- 14% of teens consume plant-based meat, with imitation meat giants Impossible Foods and Beyond Meat taking the bulk of the market share.
- They spend money on looks: Clothing (22%) has taken over food (21%) as this category of adolescents spend the most.
- And the share of youth wearing makeup every day is increasing – from 22% last fall to 33% now.
- Videos they love to watch and share: The most popular social media apps among teens are all dependent on videos. 35% say Snapchat is their favorite app, 30% say TikTok, and 22% say Instagram.
- They’re bringing back some old style: Crocs are (somehow) gaining popularity among teenagers.
Bottom-line: We are seeing how a new crop of consumers – sprung up on the Internet and passionate about social justice – is changing the economy.
Methodology: The Survey Was held August 17-September. 16. 10,000 adolescents were surveyed in 44 states with a median household income of $67,755.