Consumers Spend More on Beauty Than Ever Before
(While Cosmetic Beauty Declines)
Cosmetic beauty brands are competing in an ever smaller pond. The cosmetic beauty category once defined and dominated the market but, for the last 15 years, its share has been shrinking and now accounts for approximately one quarter of the total spend on beauty solutions. Cosmetic beauty now must compete with the many other alternatives available to beauty buyers.
Consumers redefined their expectations and switched to the many alternatives that deliver the beauty outcomes they now want. But all these alternative types of beauty come from “outside the cosmetic box”.
The beauty market has been fundamentally restructured. The value of cosmetic beauty will decline further as this shift has been most noticeable amongst the consumer segments that set trends for the wider market.
Our research focuses on the beauty solutions that now account for three quarters of consumer beauty spending.
Please contact us for fuller details (e.g., scope, objectives, key learnings and implications)
on our research project.