15 Feb 2013, 2014 Beauty Industry Market Trends And Statistics – Cosmetic Executive Women Trendspotting Event
CEW partnered with The NPD Group to present the beauty industry’s most important trends from 2013, 2014 and beyond. The NPD Group and leading industry executives revealed 2012 cross-category sales results, global beauty industry trends and proprietary consumer research findings.
Thia Breen, Group President, North America, The Estée Lauder Companies Inc. gave some interesting beauty stats:
– By 2020, multi-cultural or mixed race women will make up over 40% of the US population
– Consumers over the age of 55-years-old will make up over 2/3 of the US population
– Tween consumers are buying from the prestige department store earlier and earlier
– mCommerce sales are rising quickly
– The prestige channel sales outpaced mass by 2x in 2012 (Prestige +7 to $10.2B, Mass +3% to $21.2B)
– Prestige channel sales are forecast to grow over the next 3 years
Marshal Cohen, Chief Industry Analyst, The NPD Group, gave us insight on what brands should do to connect with the consumer:
– Consumers want to see more color choices
– Consumers want more advanced technology
– There are over 400 million mobile devices used in the US and there are only 307 million consumers in the US. Hence, many consumers have more than one mobile device
– 3D Retailing: Brands need to integrate brick-and-mortar shopping with online shopping to enhance the overall shopping experience
Karen Grant, Senior Global Industry Analyst and Vice President, Beauty, The NPD Group, shared proprietary consumer research and insights:
– US prestige beauty sales growth surpassed other major markets. US prestige sales grew to $10.2 billion in 2012 (up 7% or $700 million) US +7%; Mexico + 5%; Argentina -10%; UK +5%; France -1%; Italy -4%; Spain -7%)
What influences consumer beauty shopping?
– 75% of prestige beauty shoppers reported they were somewhat/strongly influenced by product reviews/endorsements
– 52% of prestige beauty shoppers reported they were somewhat/strongly influenced by “Best Of” Awards
– Celebrity endorsements had a lesser effect
What were the key beauty trends?
– Metal trend in makeup shades to skincare packaging and applicators
– Retro Chic
– Pink is the new Black: The top selling lipstick and nail polish shades were Pink.
– Opulence and Gold
– English Royalty
– Gel Trend
– New Textures and Finishes
2013 Trend Forecast: Similar to 2012, growth is coming from places you might not expect. The event was sponsored by Redbook, Mane, Arcade Marketing, Symphony IRI Group, Nordstrom, Mintel, Beauty Inc, WWD, Kaplow Communications, and Consultancy Media.
CEW’s TRENDSPOTTING event is open exclusively to CEW members. CEW regularly hosts events featuring industry leaders, offering insights into trending beauty topics and inspiration for professional growth. For information about CEW membership, visit cew.org.
What do you lovely ladies think of next year’s beauty trends? Do you think they are surfacing now? Let us know by commenting below (you just might win a free sample)! Make sure to follow us on our Pinterest page by clicking HERE! And don’t forget to get the latest beauty and skincare news by following us on Twitter @BeautyStat!
– Ron Robinson, cosmetic chemist and founder of BeautyStat.com
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