Investment bank Piper Sandler has released the findings of its 46th semi-annual Taking Stock With Teens survey in partnership with DECA. Piper Sandler equity research has more than 60 million data points around teen preferences and spending in the 22 plus years of researching teens. Apple’s iPhone continues to reign supreme as 87% of American teens own one and 88% expect the iPhone to be their next mobile device.
Apple Pay ranked No. 1 for payment apps used within the last month at 42%; followed by Cash App at 27%.
The fall 2023 survey was conducted from September 4th to September 27th.
Piper Sandler Taking Stock With Teens survey is a semi-annual research project that gathers input from 9,193 teens with an average age of 15.7 years. Discretionary spending patterns, fashion trends, technology, and brand and media preferences are assessed through surveying a geographically diverse subset of high schools across the U.S. Since the project began in 2001, Piper Sandler has surveyed more than 248,283 teens and collected over 60.7 million data points on teen spending.
MacDailyNews Take: Some kinds of wisdom obviously don’t require age. 🙂
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Parents that are buying devices for kids under 15 are basically the root of the problem. That this is even a column is shameful. Kids do not need phones or devices, period.
I disagree! Because my 14 years old has an iPhone, I can get in touch with him anytime, anywhere. I also always know where he is and he always knows he can get help from Mom and Dad if he ever finds himself in a dangerous situation. I can also monitor the things he’s doing on his phone and talk with him about anything concerning. Him having an iPhone has opened up our communications in an open, honest format that has brought us closer together. He knows he can talk to his parents about anything at anytime. We’ve also had many talks about the proper use and balance of screen time and reality. Like anything else, if used properly, it can be a great tool for good.
But the tool is not being used primarily for good. The small conveniences are being overwhelmed by the abuses.
Since the advent of cheap personal touchscreen electronic gadgets in the hands of impressionable people, what trend has improved among youth? Student test scores have fallen, most dramatically during the pandemic: online learning is ineffective on these devices. Obesity is now a raging epidemic. Hate speech and misinformation campaigns seep into every crevice of the internet including this site. Spam and targeted marketing and scams fool users, especially youth and seniors. Social media has created measurable psychological damage, low self esteem in kids who think they need to look like the photoshopped garbage they are fed incessantly. The incidence of domestic terror urged on by self-reinforcing hate group propaganda has worsened. You may think it’s super convenient to put an electronic leash on your children, but it’s not only you who tracks them. Insidious and unscrupulous marketers hiding behind algorithms are driving all kind of ad-driven marketing conditioning to turn your kids into hyper consumers whose primary goal is to feed the profits of corporations instead of thinking for themselves. Just ask any kid a hard question, and they will “google it”, which will spit out dozens of sponsored results for them, a big ad push. Is that the fragile hyper-dependent youth we want to raise today?
As long as Spotify has a free tier and Apple doesn’t, teenagers will continue to start with Spotify. Likewise for the social media aspect of being able to share and see friends playlists.