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Piper Sandler just released a new version of its twice-yearly “Taking Stock With Teens” study, which analyzes teenagers’ preferences for a variety of products. This study examines the spending habits and annual trends of this key segment of the market.
The April 2024 survey confirms what we already knew: teens overwhelmingly prefer iPhone over Android. This is not really a contest, his 85% of respondents own an iPhone. Additionally, 86% of those interviewed said they wanted an iPhone as their next mobile phone.
This number is consistent with the company’s October 2023 survey results. At the time, 87% of respondents said they were an iPhone user, and 88% of survey participants said they wanted an iPhone after upgrading from their current smartphone.
This result is not surprising. Things won’t change overnight, and no groundbreaking development has occurred on Android to impact the minds of young smartphone users in such a short period of time.
Generative AI products such as ChatGPT and Gemini are gradually becoming the new standard in computing. Phones like the Galaxy S24 and Pixel 8 already have AI capabilities built-in. iPhone will next have genAI functionality built-in via iOS 18.
That means there aren’t any major changes to Android that will drive more teens to Google’s operating system. And given the current state of affairs, it seems unlikely that either Android or iOS will change much anytime soon.
Here’s how Piper Sandler explained the iPhone and Android findings: mcroomers:
Both metrics, 85% iPhone ownership rate and 86% iPhone purchase intent, are near all-time highs in our research, but are down from record levels in 2021. Given the mature premium smartphone market, we believe that increasing penetration and purchase intent is important. Additionally, the trend towards premium-tier phones is encouraging as the company continues to introduce new iPhones, proving the stability of its overall product portfolio. Finally, as the installed base of Apple hardware continues to grow, the positive trend is likely to continue for services as well.
The survey also found that 34% of teens use an Apple Watch, which is again in line with the October survey. However, Apple Watch purchase intent increased by 3%, with 13% of teens considering purchasing one. The Apple Watch is another big win for Apple, but only 39.7% of respondents own a smartwatch.
Apple Music and Apple TV+ are less popular for Apple, with Spotify and Netflix being the top streaming platforms chosen by teenagers. Almost two-thirds of teens prefer Spotify, and more than 30% watch Netflix daily. Apple Music has his 30% share within this group, while Apple TV + has less than his 5%.
More than 6,000 teens from 47 states responded to survey questions, with an average age of 16.1 years. The median household income was $66,280, and 38% of teens reported being employed part-time.
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