Wolfmeyer highlights that fragrances were the biggest catalyst for the increase in beauty spending. She attributes the surge to TikTok trends, as teens are layering fragrances or matching them to their outfits. While fragrances led the way, Wolfmeyer notes that the cosmetics, skin care, and hair care categories also grew within the beauty sector.

Regarding specific brands, Wolfmeyer points to e.l.f. Beauty (ELF) as a standout performer, noting that the company is "capturing share from all generations," particularly Gen-Z. She credits e.l.f.'s success to its ability as a "master marketer" to "hit this consumer at all angles" with a combination of new and exciting products.

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This post was written by Angel Smith

Video Transcript

- Well something else out of that teen survey. Beauty spending rising 8% year-over-year among US teens. That's according to that Piper Sandler teen survey. The core beauty wallet reaching the highest level since spring of 2018. However, growth in beauty spending does seem to be in need of a touch-up, perhaps.

Piper Sandler, senior research analyst, Corinne Wolfmeyer, joining us now to discuss. That's because, basically, it seems like folks are spending on-- teens are spending on different things. But talk to us about the overall beauty spend first of all. The fact that it is up 8% year-over-year. How is that looking? What are they spending on?

KORINNE WOLFMEYER: It's coming from all categories, really. All categories grew year-over-year. But primarily, the biggest strong point was fragrance, which was up 23% year-over-year amongst female teens, up 26% year-over-year amongst male teens. So a huge standout versus the broader category that was just 8%. So we're really finding teens still leaning into fragrance even after several years of very strong fragrance performance, teens are still wanting it.