When it comes to the brands teens love, Nike and Apple reign supreme.
A new semi-annual report by investment bank Piper Sandler found the top brands where teens are spending their money. The company surveyed 9,193 US teens between August and September on their shopping preferences. Average annual spending among teens was $2,316, down 1% compared to last year.
Teens in the upper-income bracket had an average household income of $109,670 and spent the most on clothing and food — at 22%. Teens from average income brackets had an average household income of $56,958 and spent the most on clothing at 20%, while food was the second category at 18%.
Here are the top 10 brands that have become teen status symbols.