For years, American investment bank and asset management firm Piper Jaffray have been busy publishing reports of “Taking Stock with Teens” – their semi-annual research project on teen spending patterns, fashion trends, and brand and media preferences across the United States. These consumer insights are always, well, insightful, and the fall 2014 report has just been published.
Here are the key findings of the fall 2014 report:
• Spending rebounds across categories, but views of the economy worsen.
• Fashion spend increases and “different is the new cool.”
• Food is second largest spending category behind clothing with restaurants and organic foods increasingly popular.
• Instagram remains the favorite social media network.
• Specialty accessories like GoPro camcorders and Beats by Dr. Dre headphones gain traction.
• Mall trip frequency stabilizes after years of declines, but remains below historic averages.