A survey indicates that the ownership and purchase intent of Apple smartphones among teenagers are approaching historic highs. Piper Sandler's semi-annual "Taking Stock with Teens Survey" has been released, bringing continued good news for Apple Inc. This marks the 47th survey by the firm, aimed at discerning the preferences of young consumers and how this might alter the overall brand landscape.
Among watch brands, Apple has once again been voted as the favorite among high-income teenagers. However, its share has slightly decreased to 36%, down from 42% in the fall and spring surveys of 2023, just slightly ahead of its closest competitor, Rolex, at 34%.
Reportedly, 34% of teenagers currently own an Apple Watch, holding steady from last fall. Intent to purchase an Apple Watch in the next six months has risen from 10% last fall to 13%.
The ownership rate of iPhones remains high at 85%, hitting a historical high, with purchase intent at 86%. Piper Sandler noted that while the data is still optimistic, "a slight dip in demand for recent iPhones is worth noting."
"We believe that the increase in penetration and purchase intent is crucial in a mature high-end smartphone market." Additionally, the encouraging trend in high-end smartphone development, as the company continues to introduce new iPhone models, demonstrates the overall success of the product lineup.
Regarding Apple's services division, Apple Music continues to hold the second position in music streaming services. Most teenagers are users of Spotify, which still commands a considerable share of the teenage market in the United States.
When asked about their usage of music services in the past 6 months, about 35% of respondents reported using Apple Music, which is relatively consistent with the results of the previous two surveys. Spotify's usage stands at approximately 65%, but it reached 70% in the fall survey.
In terms of actual paid subscription services, around 30% of individuals reported paying for Apple Music in the past six months, while Spotify is close to 45%.
In the past 6 months, which music streaming services have you used?
In terms of video consumption, Apple TV+ has the lowest daily video consumption rate, recorded at about 1% in the survey. YouTube and Netflix both dominate with around 27%, though they have seen a decrease from the high of over 30% in previous years.
Apple Pay has the highest penetration rate among teenage users, with 57% of users stating that they have Apple Pay installed on their smartphones, and 44% indicating they used Apple Pay in the past month. The closest competitor is Cash App, with 41% and 31%, respectively.
Teens were asked if they are currently using or planning to use iCloud+ Private Relay. About 26% said they are currently using it, down from 37% in the fall. 14% said they haven't used it but are interested in using it in the next six months; 26% said they haven't used it and do not plan to; 5% said they tried it but are not interested.
6020 teenagers from 47 states were surveyed, with an average age of 16.1 years. The average household income of surveyed teens is $66,280, with 38% of teens engaging in part-time work.
