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What are Tomorrow's Consumers Doing?
Piper Sandler issued their Spring 2022 'Taking Stock with Teens' report not too long ago, with the aim of investigating trends amongst US teens. with respect to commerce, payments, fashion gaming, and more.
Here are 5 of the more interesting takeaways.
TikTok is now the #1 favourite for teens at 33%, with Snapchat taking a passenger seat (31%), and Instagram riding in back at 22%.
In terms of actual usage, the top three are reversed, with Instagram commanding the majority of monthly active usage. $SNAP $META
Athletic apparel is growing in popularity as teens' favourite apparel brands.
Nike continues to be number one, taking up a 29% share, but Lululemon is growing in mindshare and ranking. $NKE $LULU
As cable continues to dwindle (down 8% in the last 4 years), Netflix and YouTube take up an equal footing in terms of teens' daily video consumption, both at 30%. $NFLX $GOOGL
Teens predominantly use Apple Pay as their smartphone payment system, followed by Venmo, Cash App, and PayPal. PayPal does lead in BNPL penetration, however, followed by Afterpay, a Square company. $SQ $PYPL $BAC $AAPL $WFC $JPM
For greater context, 32% of teens surveyed do not have a traditional bank account. Cash remains the most popular payment mechanism, followed by debit cards, credit cards, checks, and BNPL accounts for just 5% of monthly usage.
Findings show that 26% of teens own a VR device, but that 48% of owners seldom use it, and only 5% are frequent users.
Of those who don't own one, 32% (the majority) are not interested in purchasing one. $META
iPhone ownership remains close to record highs with 87% owning one, with 87% suggesting their next phone will be an Apple one $AAPL. Ownership of Smart Watch reaches 35%, at record highs. Plans to buy an apple watch decline. $AAPL
Lastly, for laughs, because the opinion is about as useful as a chocolate fire escape, teen economists believe the economy is set to worsen (71%), compared to 46% last spring.
That was more than 5, but thanks for coming to my ted talk.
The full report can be found here:


Gen Z loves using cash because it allows them to make transactions without their parents knowing.