Everyone is catering to millennials—our desire to drop the coins included!
Bank of America released a report that researched the beauty purchasing habits of 1000 women ages 18 to 29. The survey found 80 percent see “value” and “product quality” as the most important determining factors when it comes to buying beauty products. 10 percent chose the brand’s “cool factor” or “seen on social media”— which is a shocker considering we’re always attached to our phones and take up second residencies on Instagram and SnapChat.
What may shock you even more is the brand on top is Covergirl, a drugstore brand. Following behind were other drugstore products, Maybelline and Neutrogena included. Clinique and MAC rounded out the top five and luxury brands Chanel and Nars were at the bottom of the list. Womp!
“It’s not just about the price; it’s about what you get for what you’re paying for,” says Olivia Tong, Bank of America and Merrill Lynch research analyst to the Today Show.
Tong adds, “Millennials have to prioritize purchase with a desire to buy more, but have to be careful with what their spending.”
That’s right! Lippy ain’t worth breaking the bank!
Other findings reveal women under 30 live for nails (duh!) with over 50 percent stating they owned more than eight bottles of polish and there were 11 percent who report they never paint their nails. Where did they find those girls?
The report also find celebrity fragrances are dwindling in popularity with body mists becoming more preferred over perfumes.
Here’s the top 25 beauty brands women under 30 are loving!
- Bare Minerals
- Urban Decay
- Bath & Body Works
- Victoria’s Secret
- Mary Kay
- Estée Lauder
- Burt’s Bees
Which makeup brands are you loving? Spill it!
Photo Credit: Photo by Charles Sykes/Invision/AP
What do you think?