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Piper Jaffray finds middle-income teens increase beauty spending.
April 14, 2010
By: TOM BRANNA
Editor
Piper Jaffray has completed its 19th semiannual “Taking Stock With Teens” survey, and there’s some good news for the beauty industry. Specifically, beauty spending is up for parents and middle-income teens, with spending up 48% and 4% year-over-year, respectively, according to Piper Jaffray. However, the firm reported that more affluent teen spending on beauty was down nine percent year-over-year When purchasing cosmetics and skin care, teen girls prefer to shop in discount stores and drug stores, while parents prefer to shop in discount stores for skin care and department stores for cosmetics, according to the Minneapolis-based international investment bank and institutional securities firm.
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