Celsius, Starbucks, McDonald's and e.l.f. Beauty stand out in a survey of teenagers
Apr. 09, 2024 10:00 AM ETBy: Clark Schultz, SA News Editor
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Piper Sandler released its 47th semi-annual Taking Stock With Teens survey on Tuesday.
In footwear, Nike ( NKE) remained the overall favorite footwear brand, but the company's mindshare from a year ago as New Balance made a big jump. Nike's ( NKE) Converse brand lost the most footwear mindshare over the last year. Deckers Outdoor's ( DECK) HOAK brand and On Running ( ONON) also gained market share at the expense of Nike ( NKE).
In cosmetics and beauty, e.l.f. Beauty ( ELF) widened its dominant position with teenagers, while Sephora outperformed Ulta Beauty ( ULTA). Beauty consumers still prefer to shop in-store vs. online, per the Piper Sandler survey. Notably, Target ( TGT) improved its standing with teenagers in the survey.
There was a notable shakeup in the restaurant preference ranking of teenagers. Chick-fil-A remained the favorite restaurant at 16% share, but McDonald's ( MCD) jumped up to the number two spot and Chipotle ( CMG) slotted in as the third favorite restaurant pick. Raising Cane's also ranked much higher than a year ago.
In snacking, Campbell Soup's ( CPB) Goldfish topped the list, followed by PepsiCo's ( PEP) Lays and Kellogg's ( K) Cheeze-it.
Celsius Holdings ( CELH) was one of the biggest standouts in the teenager survey as 17% cited the Celsius brand as their favorite energy drink brand vs. the ~12% total market share. Monster Beverage ( MNST) and Red Bull both under-indexed with teenagers in comparison to their total marker share.
Starbucks ( SBUX) and Bath & Body Works ( BBWI) also held dominant mindshare positions with teenagers in their respective categories,
"Our survey results indicate a slight increase in teen spending sequentially from fall 2023, but self-reported spend is down 6% year-over-year, well below pre-pandemic levels. We are seeing some significant shifts in brand preferences including the rise of smaller, innovative brands which are taking share from incumbents. We think social media has led to an accelerated trend cycle including an increased emphasis on key products, and brands will have to be nimble to keep up," noted Piper Sandler analyst Abbie Zvejnieks. |
