Leading investment bank Piper Sandler Companies completed its 48th semi-annual Taking Stock With Teens survey in partnership with DECA. The Piper Sandler equity research team now has more than 63 million data points around teen preferences and has spent over 24 years researching teens.

Teen "self-reported" spending was up 6% Y/Y to $2,361 and up 4% vs. the spring.

“Piper Sandler is excited to showcase the results of our fall 2024 Taking Stock With Teens survey which offers an inside look at how over 13,500 U.S. teens are spending their money and its direct impact on our economy. This fall, teens self-reported spending at $2,361, a four percent increase compared to our spring survey. Nike and e.l.f. Beauty continue to prove their wallet dominance as number one preferences in apparel and beauty,” said Korinne Wolfmeyer, Senior Research Analyst at Piper Sandler.

The Beauty Edit

• The core beauty wallet reached the highest level since spring 2018 at $342 (+6% Y/Y).
• All categories except for skincare (-4% Y/Y) grew Y/Y.
• Fragrance is growing the fastest at +25% Y/Y.
• Ulta is ceding share in favorite beauty shopping destinations, now at No. 2 and 27% vs. 32% a year ago.
• Sephora (No. 1) lost one point of share Y/Y as a favorite shopping destination.
• Target (No. 3) gained 4 points Y/Y. A higher % of teen females shop at Target vs. Walmart in non-food categories: 70% shop at Target for Beauty & Skincare and 46% for Apparel & Footwear.
• e.l.f. maintained its position as the No. 1 cosmetic brand, gaining 6 points of share Y/Y to 35% of female teens.

Top Color Cosmetics Brands

1. e.l.f. 35%
2. Rare Beauty 10%
3. Maybelline 7%

The ranking remains the same over the Spring report with e.l.f. losing -3%, Rare Beauty down -1%, and Maybelline gaining +1%.

Top Haircare Brands

1. Amika 7%
2. Not Your Mother's 7%
3. Mielle 6%

Olaplex fell out of the top three rankings pushed out by Not Your Mother's, jumping from No. 5 to No. 2, gaining +4% over the Spring report.

Top Skincare Brands

1. CeraVe 33%
2. The Ordinary 10%
3. La Roche-Posay 8%

The top three rankings remain the same from Spring with CeraVe gaining +5%, The Ordinary up +1%, and La Roche-Posay up +2%.

Top Fragrance Brands

1. Bath & Body Works 24%
2. Sol de Janeiro 19%
3. Victoria's Secret 10%

From Spring, the rankings remain the same, with Bath & Body Works gaining 5%, Sol de Janeiro giving up -2%, and Victoria's Secret down -1%.

Top Beauty Destination

1. Sephora 36%
2. Ulta Beauty 27%
3. Target 13%

The ranking remained the same, with Sephora losing -1%, Ulta Beauty down -4%, and Target up +3%.