Piper Sandler's 43rd semi-annual "Taking Stock With Teens" survey reports that spending on color cosmetics, skin care and fragrance among respondents totals $264/year, up 10% from the same period of 2021.
Fragrance spend grew 33% year-over-year, though skin care still holds the largest portion of beauty spend at $107, followed by color cosmetics at $94 and hair care at $90.
Notably, 88% of survey respondents would pay more for “clean” beauty, while 58% would pay more for “science-backed” innovations. The results echo NPD's data, which shows robust sales for clinical-focused brands.
In addition, 60% of responding females claimed to read ingredients on beauty products.
Ulta is still the most preferred beauty retail destination, comprising 48% of mindshare, up 2% from 2021. Sephora remained in second place and dropped 400 basis points, year-over-year.
Among brands, Olaplex was the most preferred hair care brand among females, totaling 11% of mindshare; that number climbs to 15% among intensive beauty users.
The survey found that teens spend 30% of their daily video consumption on both YouTube and Netflix, while TikTok is the most favored social media platform, followed by Snapchat and Instagram.
The survey was conducted between February 16, 2022 and March 22, 2022. Access the results here.