Piper Sandler releases biannual Gen Z survey

Piper Sandler has released its biannual Gen Z survey of US teens.

Core findings found that clothing is a number one priority for most teens, holding around 22 percent of wallet share. This is the first time since 2014 that it has claimed the top spot, surpassing food.

Secondhand shopping has also gained traction, with teens allocating 8 percent of their shopping time to secondhand clothing, and with 62 percent of teens having sold clothes second hand. One of the top social and political issues for teens is also the environment, with 14 percent eating plant based meat on a regular basis.

In terms of e-commerce platforms, Amazon comes first, with 52 percent of teens ranking it as their top site. However, it was down by 200 bps. Clothing retailer Shein takes second place, having gained 400 bps.

Nike is at the top of the apparel and footwear category in terms of brand popularity, going up 500 bps. Lulu also gained 200 bps, and brands such as Crocs, Pacsun, Hey Dude, Zara, Shein and Gymshark are all gaining share. However, Under Armour and Vans received mixed results.

Spending on accessories by females is up by 10 percent, and there has also been a spending growth in apparel and footwear, again by females.

Money allocated to beauty is also increasing, with haircare and fragrance building in terms of importance, and skin and cosmetics lagging slightly. Ulta has gained 400 bps as a number one beauty destination, holding 46 percent of the share. Sephora is in second place, with 21 percent.

Other general findings found that 95 percent of teens have returned to school in person, and 75 percent have been vaccinated. Their spending has gone up 5 percent sequentially and 6 percent Y/Y, with 38 percent holding a part time job.

The report gathers information from 10,000 teenagers living in the US, with the average age of 15.8 years. The survey was conducted between August 17 and September 16.