87% of U.S. Teens Own iPhones and 30% Plan to Upgrade for Apple Intelligence [Report]

A substantial 87% of U.S. teens have an iPhone and 30% plan to upgrade for Apple Intelligence, according to a new Taking Stock With Teens survey conducted by Piper Sandler.

"Piper Sandler is excited to showcase the results of our fall 2024 Taking Stock With Teens survey which offers an inside look at how over 13,500 U.S. teens are spending their money and its direct impact on our economy. This fall, teens self-reported spending at $2,361, a four percent increase compared to our spring survey. Nike and e.l.f. Beauty continue to prove their wallet dominance as number one preferences in apparel and beauty," said Korinne Wolfmeyer, senior research analyst at Piper Sandler.

The survey found that 22% of teens are expected to upgrade to an iPhone 16 this year. That's down from 23% in Fall 2023 and 24% in Fall 2022. It's possible that teens, like other customers, are waiting to see Apple Intelligence released before making a purchase.


Here's a look at some of the other survey highlights...

Clothing and footwear
Nike holds strong as the number one brand for all teens in both apparel and footwear. New Balance is improving to the number three spot and has doubled its mindshare to eight percent this fall. In apparel, lululemon keeps its number three ranking but lost four points of mindshare among upper income teens. Amazon ranks number one among upper income teens as the top shopping website.

Beauty
The beauty category remains a high priority for teens and this fall survey shows the core beauty wallet reaching the highest levels seen since 2018 at $342. Cosmetics continues to hold the highest share within beauty spending, but fragrance is growing quickly at 25 percent year-over-year.

Technology and social media
TikTok is the favorite social app among teens while Instagram came in second and Snapchat ranks third. 87 percent of teens own an iPhone and nearly 30 percent of teens plan to upgrade their Apple hardware in the next six months because of Apple Intelligence. Netflix is the top choice for teens when it relates to daily video consumption.


Restaurants and food
Chick-fil-A continues to be the preferred chain restaurant among teens while McDonald's and Chipotle Mexican Grill ranks number two and three. Teens prefer energy drinks over coffee and soda as their source of energy. Monster Beverage, Red Bull, Celsius and Alani Nu continue to hold their top four rankings.

Hit the link below for the full report!

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