The younger generation may be hard to understand at times, but fortunately, their shopping habits are not.
Piper Jaffray asked GenZ-ers what’s on their "wish lists" for the holidays. Taking the top three spots for the upper-income cohort: money, clothing, and cars. Though material objects take 9 out of 10 mentions on this year’s list, the financial services company notes that an increasing number of teens are prioritizing “experiences,” such as trips and vacations.
The financial services company conducts a semi-annual “Taking Stock With Teens” survey, which gathers input from 9,500 teens with an average age of 15.8 years.
As far as the consumer brands teens want for the holidays, Apple (AAPL) is No 1. The tech giant is the top brand for 10% of teens: AirPods gained share year over year, while iPhone and the Apple watch both lost share — and the iPad and MacBook remained stable. Nike (NKE) is the number 2 brand among teens. Its share more than tripled year over year.
Luxury brands are becoming more popular among Gen-Z. Piper Jaffray notes that luxury brands represented 1% of the total vote up from 0.3% in 2017. European brands Louis Vuitton (LVMUY) and Gucci (KER.PA) take the 3rd and 4th spots, respectively, among teens in 2019.
Reggie Wade is a writer for Yahoo Finance. Follow him on Twitter at @ReggieWade.