For the first time since 2020, teenagers spend more on makeup than skincare, according to Piper Sandler Companies' 45th semiannual "Taking Stock With Teens" survey. The report highlights discretionary spending trends and brand preferences from teens across the US, with an average age of 16.2 years.

Beauty Takeaways

• The core beauty wallet (cosmetics, skincare, fragrance) grew 19% year over year, led by cosmetics, which saw an increase of 32%.
• Ulta remained the number-one preferred beauty destination at 41% share, and held the strongest beauty loyalty membership at 63% of female teens with a membership. 
• Specialty Retail for beauty purchases met the spring 2021 high of 75%, and mass/dept/drug reached a new low of 12%.
• e.l.f. remains the number-one cosmetics brand, increasing 900 bps year over year to 22% for female teens.

Makeup vs. Skincare

• Makeup saw a year-over-year increase of 32%, while skincare grew by 11%.
• Teen women spent about $123 a year on makeup, compared with $119 on skincare. Last year they spent more on skincare ($107) than makeup ($93). 
• According to the survey, the number of teenagers saying they wear makeup every day jumped to 45% this spring, up from 37% a year ago and around 20% in 2021. 
• Survey takers who said they wore makeup daily spent an average of $185 a year on cosmetics, compared with the survey average of $123 a year.

Top Beauty Shopping Destinations

• Ulta 41% 
• Sephora 28%
• Target 7%
• Walmart 6%
• Amazon 5%

Top Cosmetics Brands

• e.l.f 22% 
• Rare Beauty 11% 
• Maybelline 7%
• L'Oréal 6%
• Fenty 5% 

Top Skincare Brands

• CeraVe 41% 
• The Ordinary 7%
• Cetaphil 6%
• Drunk Elephant 4%
• La Roche-Posay 4%

Top Fragrance Brands

• Bath & Body Works 31%
• Victoria's Secret 14%
• Sol de Janeiro 9%
• Ariana Grande 6% 
• Chanel 4%

Top Haircare Brands

• Olaplex 10%
• Shea Moisture 8%
• Pantene 4%
• Mielle 4%
• Amika 4%