Denim is officially cool again for the first time since 2010

One the world's most influential consumer demographics- teens - just called this year's top fashion trend.

Denim is back, according to a report on teen spending trends by US investment bank Piper Jaffray.

The fabric is "inflecting positively for the first Fall since 2010," the survey said.

The bi-annual survey of more than 9,000 teens, with an average age of 16, revealed that teens are spending less at big brands, and moving towards finding boutique buys for things like fashion and cosmetics.

"Central to this shift is the rise of individuality over conforming to a crowd," Piper Jaffray said.

That said, big clothing brands still dominate teen spending, as this chart from the report shows:

The survey revealed a lot about what teens are excited about and what they want to spend their money on.

Star Wars: The Force Awakens comes second to the final installment of the Hunger Games in a survey of the most anticipated movies for the teen demographic this year, according to a report by US investment bank Piper Jaffray.

Divergent: Allegiant - part 1 is third in the list.

Web-based film and tv is outstripping traditional cable. Almost 40% use Netflix, while only 29% watch cable television. Starbucks and Chipotle are the preferred places to hang out and eat, while Michael Kors is the top handbag brand at 31%, beating Kate Spade at 15%.