Image: NielsenIQ
Itās near impossible to browse modern social media without stumbling across a āget ready with meā video.
And this experience isnāt unique to adultsāGRWM clips are also drawing massive viewership from tweens (kids aged 10-12), fueling a recent surge in beauty spending among that age group.
Households with children 12 and under spent $2.4 billion in 2023 on skincare and makeupāup 27% on an annual basis and more than that of households with teenagers, according to the latest Nielsen data.
Why target tweens? Experts say their brains are still very much in the development stage, making them less able to recognize ads and targeted content compared to teens or adults. The problem is exacerbated by online creators, especially teen influencers, routinely failing to tag their skincare and makeup posts as advertising per a recent CBS News analysis.
In semi-related news: E.l.f. Beauty, which has seen its growth skyrocket over the past few years amid a popular TikTok marketing campaign targeting younger consumers, yesterday acquired Hailey Bieberās skincare brand Rhode for $1 billion in a bid to reach more higher-income beauty shoppers.
šŖ Square, a point-of-sale system company serving 4 million sellers, yesterday launched a pilot of real-time bitcoin payments.
š³ Buy now, pay later (BNPL) giant Klarnaās users are increasingly passing on the second part.
š± Generation Lab, a youth polling company, yesterday launched Verb.AI, a new product that offers people $50 or more per month (depending on use and other factors) to download a tracker onto their phones.
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