Teen beauty spending plunges 20% from last year to a 19-survey low
Teens are spending significantly less on beauty products, according to a new survey from Piper Jaffray.
Piper Jaffray’s 38th semi-annual teen survey analyzed 9,500 responses across 42 states. The average age of participants was 15.8 years old with 54% being male, 45% female and less than 2% identified non-binary. Skincare has been the most significant growth opportunity in the beauty space as of late. According to the NPD Group, skincare grew 13% and contributed to 60% of the U.S. prestige beauty industry’s total gains in 2018. Though Piper Jaffray’s survey found that skincare spending among female teens fell 8% from last year, the $104 per year spent on skincare was in-line with the multi-year survey average.
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