American teens are spending their money on chicken sandwiches from Chick-fil-A, athletic gear from Nike NKE, -4.12% and cryptocurrencies like bitcoin BTCUSD, -1.99%.
The investment firm Piper Sandler PIPR, -2.84% released a semi-annual research project detailing the spending and usage habits of teenagers with an average age of 16.1 years old.
Chick-fil-A dominated their food rankings as 18% of the 7,000 surveyed said their favorite restaurant was Chick-fil-A. Coming in at No. 2 was Starbucks SBUX, -1.13% at 12%, then Chipotle CMG, -1.16% at 11%. Legacy food brands like Dunkin’ Donuts and McDonald’s MCD, +0.52% were further down the list.
When it comes to clothing, Nike is the overwhelming favorite among American teenagers as 27% of respondents said the swoosh was their top clothing apparel brand. No other brand reached even 10%.
When it comes to online shopping, Amazon AMZN, -1.11% was the top shopping website for 56% of respondents, while the next brand, Shein, was the favorite of only 7% of the teens surveyed.
One interesting aspect of the survey is how active teenagers are in cryptocurrency.
Among those surveyed, 9% of teens claim to have traded cryptocurrency — and 81% of those teens identify as male.
Lisa Kramer, a professor of finance at the University of Toronto and an expert in investor behavior, says the gender split in crypto trading is related to “overconfidence” for male investors.
April 21, 2021 at 01:34AM
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The spending life of U.S. teens: Chick-fil-A, Nike and bitcoin - MarketWatch
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