Exploring the Comparison of Money Spent by Gen Z vs Millennials on Skincare and Makeup

"Dream – In this digital age, technology makes our lives easier. When we want to buy something, we often look at reviews on e-commerce to ensure that the product we want to buy meets our expectations, both in terms of price and quality. Especially when shopping for makeup and skincare that directly touches the skin. Of course, we don't want the products we buy to cause skin issues. So, to avoid disappointment when purchasing products for the face, we usually rely on reviews from previous buyers or recommendations from close friends who have used them before."

According to the report "Beauty Consumer Behavior and Trend Report" from Insight Factory by SOCO, there seems to be an increase in the literacy of Indonesian consumers in purchasing beauty products. Apparently, 77% of consumers always read reviews before buying.

"Gen Z, in particular, is more knowledgeable about the ingredients and effectiveness of products. Some of the most sought-after ingredients in 2023 include centella, rice, salicylic acid, snail mucin, and niacinamide."

“Beauty literacy in Indonesia is rapidly increasing thanks to the ease of access to information that is becoming more widespread in the digital world, especially through social media. This has encouraged brands and other industry players to become more creative, innovative, and relevant to the preferences of increasingly savvy beauty enthusiasts,” said Amanda Melissa, VP of Data Management & Business Intelligence at Social Bella, during a press conference on August 7, 2024.

Data from the SOCO report also mentions that Gen Z significantly leads in the growth of trending product sales compared to Millennials during 2023. In the body care category, purchases of body sunscreen by Gen Z grew by 175% compared to 106% for Millennials.

"For acne pimple patches, the purchasing growth of Gen Z reached 69% compared to 33% for Millennials. In the hair care category, purchases of hair mist products by Gen Z increased by 227%, higher than Millennials at 113%."

"How Much Money Do Gen Z and Millennials Spend When Shopping for Skincare/Makeup?"

The "Beauty Consumer Behavior and Trend Report" SOCO also highlights the differences in spending habits between Millennials and Gen Z when shopping for beauty products. Almost half of the total Gen Z respondents (48%) spend less than Rp150 thousand per transaction.

"Meanwhile, only about a third of Millennial respondents (34%) spend the same amount. A total of 28% of Millennials spend more than Rp300 thousand per transaction, while for Gen Z, the figure is recorded at 17%."

Beauty Report from Insight Factory by SOCO is compiled based on an analysis of big data from the SOCO Beauty Super App, enriched with consumer surveys, beauty trend analysis, and relevant external publications. At SOCO, users have a beauty profile, choose and purchase products, as well as read and write reviews. Report: Mutiara Rachmah

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