10.12.22
Piper Sandler has published findings from its 44th semi-annual Taking Stock with Teens Survey where they surveyed ~14,500 teens across 47 states and asked them questions about beauty products.
According to the survey results, beauty spending is up 20% year-over-year, totaling $264/year. By category, color cosmetics spending is up 28%, totaling $96, while skin care held the highest priority of beauty spending at $103. E.l.f remains respondents’ favorite makeup brand, while CeraVe was the favorite skincare brand.
Hair care spend totaled $91 for the period, with female teen spending on hair care rising 11% year-over-year, a new record for the Piper Sandler survey. The top overall brand was SheaMoisture, which holds 10% of respondents' mindshare.
“This aligns with the broader viewpoint that in addition to the Lipstick Index, we're starting to see the Fragrance Index. In times of distress, people are still prioritizing little luxuries and the concept of feeling good, which can come in the form of wearing a fragrance,” says Piper Sandler.
Piper Sandler also asked about new social media app, BeReal, this survey, with 34% of teens noting monthly usage.
According to the survey results, beauty spending is up 20% year-over-year, totaling $264/year. By category, color cosmetics spending is up 28%, totaling $96, while skin care held the highest priority of beauty spending at $103. E.l.f remains respondents’ favorite makeup brand, while CeraVe was the favorite skincare brand.
Hair care spend totaled $91 for the period, with female teen spending on hair care rising 11% year-over-year, a new record for the Piper Sandler survey. The top overall brand was SheaMoisture, which holds 10% of respondents' mindshare.
Fragrance Becomes a Core Part of the Beauty Routine
While fragrance is still the smallest portion of the beauty wallet ($66 annual spend), spending on fragrance is on the rise. Piper Sandler discovered that 66% of female teens wear a fragrance every day (39% of male teens wear a fragrance every day), which is well ahead of the 41% of female teens that reported wearing makeup every day.“This aligns with the broader viewpoint that in addition to the Lipstick Index, we're starting to see the Fragrance Index. In times of distress, people are still prioritizing little luxuries and the concept of feeling good, which can come in the form of wearing a fragrance,” says Piper Sandler.
Retail Channels
Ulta remained the No. 1 preferred beauty destination at 42% and held the strongest loyalty membership. Meanwhile, Sephora takes the No. 2 destination rank at 24% share— up 300 bps year-over-year. At the same time, Amazon is gaining share, with beauty shopping destinations and loyalty membership now just 3 points behind Ulta.Favorite Social Media Platforms
TikTok (38%) widened the lead versus Snapchat (30%) as the favorite teen app, while Instagram (20%) followed again in 3rd. Instagram continues to lead the pack in monthly usage at 87%, followed by Snapchat and TikTok at 83%.Piper Sandler also asked about new social media app, BeReal, this survey, with 34% of teens noting monthly usage.
