How and where do young Americans spend their money? To unravel this mystery, the investment bank Piper Sandler conducted a large study with a sample of 7100 teenagers across the United States. The survey covers various sectors including cosmetics.
To better understand the consumer habits of America’s youth, Piper Sandler surveyed 7,700 people. With an average age of 16.6 years, the respondents came from 44 different states. The panel is 44% male, 44% female and 2% non-binary. Of note, 39% of them have part-time jobs.
The survey was conducted online, between February 16 and March 22, 2022.
General Findings
Young Americans are spending more money than last year (+4%) The survey reveals that teenage girls are behind this increase, as they have consumed more compared to last year.
Focus on beauty
Per year, panelists spend approximately $264 (+10% vs. 2020) on cosmetics.
Skin care is the major spending category. After that come makeup and hair care. 60% of women read INCI lists. 88% are willing to pay more for a “clean” product.
When shopping, respondents prefer:
• Ulta (48%)
• Sephora (20%)
• Target (9%)
• Walmart (6%)
• Amazon (4%)
Their favorite makeup brands are:
• e.l.f. (13 %)
• Maybelline (11%)
• Tarte (8%)
• L’Oreal (7%)
• Morphe (4%)
On the skincare side, the top of the rankings are:
• CeraVe (41%)
• Cetaphil (8%)
• The Ordinary (6%)
• Neutrogena (6%)
• Curology (2%)
Cosmetics …
