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Just The Numbers: Piper Sandler Gen Z Beauty Edit

August 21, 2022
August 21, 2022
Mike Von via Unsplash

In partnership with DECA, leading investment bank Piper Sandler has completed its 43rd semiannual Taking Stock With Teens survey. For over 21 years, this survey has highlighted discretionary spending trends and brand preferences of 7,100 teens across 44 US states.

  • The core beauty wallet (cosmetics, skincare, fragrance) stood at $264/year, up 10% Y/Y, led by fragrance (+33% Y/Y). 
  • Skincare held the highest priority of spending in the beauty wallet at $107, followed by cosmetics at $94 and haircare at $90.
  • 60% of females read ingredients in beauty products. 88% would pay more for "clean" and 58% would pay more for "science-backed."
  • e.l.f. rose to the No. 1 preferred makeup brand for all teens for the first time—gaining 300 bps Y/Y and displacing Maybelline.
  • Ulta remained the No. 1 preferred beauty destination, with 48% mindshare (46% LY), while Sephora remained at No. 2 and ceded 400 bps of share.
  • Olaplex was the No. 1 preferred haircare brand among females, with 11% mindshare and 15% share among upper-income females.

Top Beauty Destinations

  1. Ulta (48%)
  2. Sephora ($20%) 
  3. Target (9%)
  4. Walmart (6%)
  5. Amazon (4%)

Top Makeup Brands

  1. e.l.f. Beauty (13%)
  2. Maybelline (11%)
  3. Tarte (8%) 
  4. L'Oréal (7%) 
  5. Morphe (4%)

Top Skincare Brands

  1. CeraVe (41%)
  2. Cetaphil (8%)
  3. The Ordinary (6%)
  4. Neutrogena (6%)
  5. Curology (2%)
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