Taking Stock With Teens' National Study

According to Digital Music News, Piper Jaffray & Co. recently announced the results of its 14th biannual proprietary research survey, "Taking Stock With Teens," a national study on teen spending habits and retail brand perceptions. After conducting mall research field trips in 10 cities across the United States and surveying approximately 980 students, the Piper Jaffray retail research team published key findings for teens' purchasing behaviors and preferences in the categories of: fashion, apparel brands and retailers, beauty and personal care, home furnishings, video games, digital entertainment and restaurants.

 

“When asked about buying habits of MP3 players and online music, 82 percent of the students who own an MP3 player indicated that they also own some form of an iPod, which is up from 79 percent in fall 2006. Purchasing online music is becoming more main stream as 64 percent of the students surveyed indicated they download music illegally, compared to 72 percent at this time last year. iTunes continues to dominate market share at 79 percent. In addition, after only three months of availability, 3 percent of the students own an Apple iPhone, and 9 percent expect to buy an iPhone in the next six months”.