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Key stat: Gen Z consumers of beauty and skincare products are most attracted to brands for their pricing (48%), samples (46%), and sustainability (44%), according to Bolt. Pricing is a bigger influence for older consumers, cited by 61% of those ages 18 and older.

Beyond the chart:

• Gen Z will represent 20% of the US population this year, per the US Census Bureau, but it makes up 35% of US purchasing power, according to Bolt. Although they’re often considered a socially conscious generation, prioritizing ethical, sustainable, and diversity-focused brands, Gen Zers are also on a budget.
• Amid rising costs of living and the return of federal student loan payments, Gen Zers may adopt more conservative spending habits and gravitate toward discount and value-oriented retailers.
• We forecast US cosmetics and beauty sales will grow 10.1% this year, more than triple the broader retail market’s 2.9% growth rate.

Use this chart:

• Devise promotional strategies that incorporate discounts and deals.
• Develop brand messaging that speaks to Gen Z.

More like this:

• 5 charts that make up beauty ecommerce
• How and where CPG customers start their shopping journey
• What marketers should know about why Gen Z shops
• 5 charts showing D2C’s shift toward established brands

More Chart of the Day:

• 7/5 - Making ad-justments
• 7/3 - Summer inflation
• 6/30 - CTV gains on mobile
• 6/29 - Beauty and the bucks
• 6/28 - Corner the marketplace

Methodology: Data is from a May 2023 Bolt report titled "The future of beauty ecommerce: customer identity." 1,038 US adults ages 18+ who have shopped for a beauty and/or skincare product online within the past 6 months were surveyed online by YouGov during May 15-17, 2023. The figures are weighted and are representative of all US adults ages 18+.