On February 10, the beauty industry’s most important trends were the subject of this special CEW event. For the third year, CEW partnered with The NPD Group to uncover 2014 cross-category sales results, global beauty industry trends and proprietary consumer research findings. For the first time, Nielsen joined the conversation, sharing mass-market results and consumer trends.
This exclusive, sold out event gave CEW members access to industry information that is usually reserved only for NPD clients.
Marshal Cohen, Chief Industry Analyst at The NPD Group reported on the following top lifestyle trends that will influence beauty:
Casual – our world is becoming more casual and dress-down than ever – as a result, no makeup, makeup looks will continue trending
Active Lifestyle – we are dressing in more active wear even if some of us are not active
Era of More – we live in a time of more choices, more competition
Growth of Millenials – this age group will have tremendous spending power
Photo courtesy of Patricia Willis Photography
What do beauty brands and retailers need to do based on the above trends:
Timing Matters – Promote what consumers need right now. For example, stop promoting Spring collections in the dead of Winter.
Be Mobile – 69% of households have mobile phones and 37% of consumers are shopping online
Post-Holiday – Continue promoting after the holidays while consumers have gift cards to use.
James Russo, Senior Vice President, Global Consumer Insights at Nielsen gave the following tips on how brands can stand out in a crowded market:
Shine on Shelf – innovative packaging and delivery systems will cut through the clutter of crowded store shelves
Health & Wellness – will continue to be a growing trend
Hispanic Spending – With over $3 Trillion in spending power, beauty brands can’t win without this demographic
Integrate Online & In-store – Last holiday, 16% more consumers bought beauty online so both experiences need to complement each other.
Karen Grant, Global Beauty Industry Analyst at The NPD Group, gave us 2014 Global sales data:
Global Prestige Sales: US – $11.2B +3%; France – $3.6B -1%; U.K. – $3.7B +5%; Italy – $2.1B -1%; Spain – $1.6B -2%; Mexico – $483M +2%; Argentina-$143M -10%; Peru – $42M +7%; Canada – $1.3B +5%
US Prestige sales: $11.2B +3%; Skincare +1%; Makeup +6%; Fragrance+2%
US Mass sales: $22.1B Flat; Skincare +2%; Makeup -1%; Fragrance-4%
Cosmetic Executive Women, Inc. (CEW) is a nonprofit, professional organization with more than 6,000 members, both men and women, from over 1,700 companies in the beauty and related industries. CEW brings the beauty community together, at every stage of their careers, from every facet of the industry.
What are some lifestyle trends that you think affect the beauty industry?
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– Ron Robinson, cosmetic chemist and founder of Beautystat.com.
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