Piper Jaffray Completes Ninth Bi-Annual 'Taking Stock With Teens' National Study of Generation Y Shopping Behavior and Brand Pre
April 08 2005 - 11:26AM
PR Newswire (US)
Piper Jaffray Completes Ninth Bi-Annual 'Taking Stock With Teens'
National Study of Generation Y Shopping Behavior and Brand
Preferences MINNEAPOLIS, April 8 /PRNewswire-FirstCall/ -- Piper
Jaffray & Co. Senior Retail Analyst Jeff Klinefelter and a
collaborative team of other senior research analysts recently
released the results of the ninth bi-annual proprietary research
survey on teen spending habits and retail brand perception, titled
"Taking Stock With Teens." Klinefelter and team conducted mall
research field trips with approximately 600 teens from 11 high
schools in eight states across the country and one province of
Canada. Additionally, the team surveyed another 1,400 students in
47 states and Canada through an online survey. Overall, the survey
shows that total fashion spending remained flat year-over-year.
"Our 'discretionary spending recovery' thesis remains intact as our
new supplemental online survey points to significantly higher
spending on fashion products for an average household income of
$72,000 sample, versus $44,000 sample," said Klinefelter.
"Additionally, current spending trends on fashion-related products
remains on par with strong performance during Spring 2004, however
frequency characteristics point to acceleration as we move through
2005." Brand Preferences Survey Results: Klinefelter and team
surveyed teens on their favorite places to shop as well as their
spending habits. Based on their responses, Hollister, a concept of
Abercrombie & Fitch (ANF, Outperform, $58.79) took the top spot
as the most frequent overall destination capturing 12 percent of
mind share votes, followed by Abercrombie & Fitch with 10
percent mind share after leading the ranking for seven surveys in a
row. In third place is Pacific Sunwear of California (PSUN,
Outperform, $26.74), followed by American Eagle (AEOS, Outperform,
$29.77) in fourth place and d.e.m.o, a concept of Pacific Sunwear,
in fifth. "Overall, mind share in terms of preferred brands seems
to be coalescing at the top, continuing a trends we first saw in
the fall 2004 survey," said Klinefelter. "This spring, the top
three choices garnered 32 percent of the votes, compared to 33
percent in the fall 2004 survey and 25 percent last spring." The
students were also surveyed on video game products and other
consumer electronics. Results of the survey point out that video
games remain a leading form of entertainment with 76 percent of
student households having at least one video game platform and 49
percent of students stating that they are occasional game players
(playing at least monthly). In addition, 51 percent of student
households own Sony's PS2, 32 percent own Microsoft's Xbox, 18
percent own Nintendo's GameCube and 34 percent own a GameBoy System
(38 percent own two consoles). In addition to video game products,
the students were surveyed about portable digital audio players.
The survey results show an accelerating interest among teens for
digital audio players. Of the students surveyed, 41 percent
indicated that they own a portable digital audio player and those
expecting to purchase one went from 46 percent in fall 2004 to 59
percent in the spring 2005 survey. Apple's (AAPL, Outperform,
$43.56) iPod ownership among high school students has risen
materially. In the fall 2004 survey, 40 percent owned an iPod,
while in this spring's survey, 56 percent own an iPod. Gen Y - Teen
and Parent Spending Remains Steady Total spending on fashion
products (apparel, shoes and accessories) for teens by parents
appears to be holding steady when compared with fall 2004 and
ticking up slightly when looking at parents spending on apparel
themselves. Parents indicated in the survey that annual spending on
teen apparel came in at $1,131, versus $1,133 in fall 2004. When
spending on themselves, parent spending ticked up seven percent to
$1,398 from $1,309 in fall 2004. Overall, 41 percent of parents
surveyed indicated that they had spent more on apparel for their
teens this year, versus last year and only 11 percent said that
they had spent less on apparel for their teens this year, versus
last year. Also 23 percent of the parents surveyed said that they
had spent more on themselves this year than last year and only 20
percent spent less on themselves this year. Piper Jaffray & Co.
is the chief operating subsidiary of Piper Jaffray Companies
(NYSE:PJC), a focused securities firm dedicated to delivering
superior financial advice, investment products and transaction
execution within selected sectors of the financial services
marketplace. The company operates through two primary
revenue-generating segments: Capital Markets and Private Client
Services. Piper Jaffray & Co. has served corporations,
government and non-profit entities, institutional investors and the
financial advisory needs of private individuals since 1895.
Headquartered in Minneapolis, Piper Jaffray has approximately 3,000
employees in 104 offices in 23 states across the country and in
London. For more information about Piper Jaffray, visit us online
at http://www.piperjaffray.com/. Since 1895. Member SIPC and NYSE.
(C) 2005 Piper Jaffray & Co., 800 Nicollet Mall, Suite 800,
Minneapolis, Minnesota 55402-7020 Research Disclosures Piper
Jaffray was making a market in the securities of American Eagle
Outfitters, Inc. at the time this research report was published.
Piper Jaffray will buy and sell American Eagle Outfitters, Inc.
securities on a principal basis. Piper Jaffray was making a market
in the securities of Abercrombie & Fitch Co. at the time this
research report was published. Piper Jaffray will buy and sell
Abercrombie & Fitch Co. securities on a principal basis. Piper
Jaffray was making a market in the securities of Pacific Sunwear of
California, Inc. at the time this research report was published.
Piper Jaffray will buy and sell Pacific Sunwear of California, Inc.
securities on a principal basis. Piper Jaffray has received
compensation for non-investment banking securities-related services
from Pacific Sunwear of California, Inc. within the past 12 months.
Piper Jaffray was making a market in the securities of Apple
Computer, Inc. at the time this research report was published.
Piper Jaffray will buy and sell Apple Computer, Inc. securities on
a principal basis. Piper Jaffray has received compensation for
non-investment banking securities-related services from Apple
Computer, Inc. within the past 12 months. This material regarding
the subject company is based on data obtained from sources we deem
to be reliable; it is not guaranteed as to accuracy and does not
purport to be complete. This information is not intended to be used
as the primary basis of investment decisions. Because of individual
client requirements, it should not be construed as advice designed
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