Piper Jaffray report reveals ongoing shift toward limited service
The long march toward limited-service restaurant brands dominating teen spending shows no signs of stopping, according to a new report from investment firm Piper Jaffray.
Piper Jaffray, which has conducted the “Taking Stock With Teens” survey twice a year since 2009, noted the “long-term shift in preference toward limited-service brands” and a return to food taking the biggest bite out of upper-income teen wallets — matching a peak of 24 percent of spending, ahead of clothing at 20 percent.
Quick-service and fast-casual concepts have gained share over the course of the 19 consecutive surveys, Piper Jaffray analysts Nicole Miller Regan and Joshua Long wrote in a report released Tuesday.
“In spring 2009, full-service concepts had a 57 percen...
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