Teen “self-reported” spending was up 3% year of over to $2,331, which was down 2% versus last spring. Piper Sandler’s report found that parent contribution was 61% in this current survey compared to 60% last spring.
Food remained the top spend category for males and apparel remained top for females.
Teen Beauty Spending
The core beauty wallet (cosmetics, skincare, fragrance) stood at $264/year, up 20% Y/Y and led by cosmetics (+28% Y/Y), according to Piper Sandler.Everyday use of makeup continues to trend upward. Fragrance is also proving its resilience, with category spend +21% Y/Y and approximately two-thirds of female teens noting fragrance usage every day.
Ulta remained the No. 1 preferred beauty destination at 42% mindshare, and it also held the strongest beauty loyalty membership at 62% of female teens with a membership. Sephora was 24%; Target was 10%; Walmart was 6% and Amazon was 5%.
Cosmetics
ELF maintained its position as the No. 1 cosmetics brand, gaining 500 bps of share Y/Y to 16% of female teens. The rest are: Maybelline (11%), L'Oreal (7%), Tarte (5%) and Fenty Beauty (4%).Piper Sandler said ELF remains the dominant player at No. 1 for both average and upper income females.
Skincare
In skincare, CeraVe topped the list with 42%, followed by Cetaphil (9%), The Ordinary (7%), Neutrogena (5%) and Drunk Elephant (2%).Fragrance
Bath & Body Works lead the way (38%) followed by Victoria's Secret (16%), Sol de Janeiro (6%), Ariana Grande (5%) and Chanel (5%).
Haircare
SheaMoisture was ranked No. 1 at 10%, followed by Olaplex (9%), Pantene (4%), Aussie (4%) and Dove (4%).
More Findings
According to the survey, 39% of teens hold a part-time job—steady with last spring and up from 38% in fall 2021.On average, teens spent 4.4 hours on social media. TikTok widened its lead versus Snapchat as the favorite teen app, with Instagram remaining in third. However, Instagram continues to lead in monthly usage, according to Edward Yruma, senior research analyst with Piper Sandler.
This year’s Fall 2022 survey was conducted from August 12 to September 23. Piper Sandler said it received the highest number of responses from the South at 41%, followed by the Midwest at 32%, the West at 20% and the Northeast with 7%.
Piper Sandler conducts the survey in partnership with DECA, an organizatoin prepares emerging leaders and entrepreneurs in marketing, finance, hospitality and management in high schools and colleges.