Piper Sandler conducted a semi-annual study, between August and September, to understand evolving consumer behaviour among teenagers.
According to the latest "Taking Stock of Teens" study, TikTok has overtaken Instagram to be the second-most favourite social platform among teenagers. However, Instagram remained the most-used platform by teenage customers, and Snapchat continued to become the "most-favoured" platform.
With consumers staying more at home due to the lockdowns, teenagers are consuming more videos on streaming channels like Netflix and YouTube. While overall individual spending has hit a record low of $ 2150, customers are increasingly spending more time on online shopping channels. Amazon remains the preferred ecommerce brand for more than half of US teenagers.
For the first time, low-priced women's fashion ecommerce company Shein secured the second displacing Nike. But, Nike still rules as the most preferred apparel brand among teenagers.
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