Twice a year, investment bank Piper Sandler surveys a sample of teenagers in the United States to better understand their purchasing habits. This first 2024 edition shows a downward trend in consumption… except for cosmetics.
6020 teenagers, with an average age of 16 and living in 47 different states, were surveyed between February 13 and March 27, 2024. The panel is made up of 54% boys, 44% girls and 2% non-binary. 38% of respondents have a student job.
Fewer purchases
Unlike last year, teenagers spent less ($2398 in 2022 versus $2263 in 2023). 62% of their shopping budget is financed by their parents. In general, boys and girls have limited their purchases of new shoes and clothes. Beauty, on the other hand, remains a priority. The average shopping basket is $339, its highest level since 2018 (+8%). Consumption of beauty products has risen in all product categories, but perfumes are recording the strongest growth (+23%). When it comes to beauty shopping, young people prefer to go in-store (+85%).
Favorite brands and retailers
Young Americans like to buy skincare products from: • Sephora (37%) • Ulta (31%) • Target (10%) • Walmart (5%) Another 5% prefer Amazon.
Their favorite skincare brands include:
• e.l.f. (38%)
• Rare Beauty (9%)
• Maybelline (6%)
• Charlotte Tillbury (5%)
• Fenty Beauty (4%)
When it comes to fragrances, teenagers are particularly fond of:
• Bath & Body Works (29%) …
