MINNEAPOLIS -- “Teens will frequent a restaurant two times for every time they fill up their gas tank,” according to a new report by investment bank and asset management firm Piper Jaffray Cos. Starbucks tops the list of teens’ favorite restaurant brands.
Its 30th semi-annual Taking Stock With Teens research survey highlights spending trends and brand preferences amongst 9,400 U.S. teens across 46 states with the average age of 16. It looks at both average-income and upper-income teens.
Chipotle ranked second among teenage diners, followed by Chick-fil-A, McDonald’s and Panera Bread, the fall survey said.
Olive Garden, Taco Bell, Chili’s, Red Lobster, Buffalo Wild Wings and Applebee’s took spots on previous surveys.
“The power of our teen survey goes beyond the information we capture in any given season. Rather, it aids our ability to zoom out and monitor bigger, and sometimes more subtle, but very real trends. For example, we’ve observed fashion choices are moving back to authenticity across denim brands, performance athletic brands and independent cosmetic brands,” said Neely Tamminga, senior research analyst.
This cycle marks a milestone for the survey, celebrating its 15th consecutive year. Since the project began in the spring of 2001, Minneapolis-based Piper Jaffray has surveyed approximately 125,000 teens and collected nearly 34 million data points on teen spending in fashion, beauty and personal care, digital media, food, gaming and entertainment.
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