Since 2001, the investment bank Piper Sandler has been surveying US teenagers about their financial management. This new study reveals that young Americans have strong purchasing power and spend considerable sums on cosmetics.
Piper Sandler surveyed 6,455 teenagers (average age: 16). The panel is 54% boys, 45% girls and 1% non-binary.
Panelists come from all over America. 37% of them have a student job in parallel with their schooling.
On average, they live in households with annual resources of around $70,000.
Results
The teenagers’ budget increased by 6% over the previous year, reaching $2,388.
Purchases of beauty products reached their highest level since 2001, at $374 (+10% on the previous year). All categories were up, with the exception of hair care. Perfumes saw the fastest growth (+22%).
For shopping, respondents go to Sephora (38%), Ulta (26%) and Bath & Body Works.
When it comes to make-up, respondents like e.l.f (35%), Rare Beauty (9%) and Maybelline (6%).
For skin care, they prefer CeraVe (32%), The Ordinary (11%) and La Roche-Posay (8%). Bath & Body Works (20%), Sol de Janeiro (18%) and Victoria’s Secret (10%) win the perfume category.
Amika (9%), Not Your Mother’s (8%) and Olaplex (5%) top the list of US teenagers’ favorite hair brands.
