10 Feb 2014, 2015, 2016 Beauty Industry Market Trends, Sales And Statistics: Cosmetics Executive Women, NPD, IRI
NEW YORK, NY February 6, 2013 – The beauty industry’s most important trends were the subject of this special CEW event last week. For the second year, CEW has partnered with The NPD Group to uncover the 2013 top global beauty industry trends and proprietary consumer research findings.
See last year’s trends HERE —> 2013/2014 Beauty Industry Market Trends, Sales And Statistics
This exclusive, sold out event gave CEW members access to industry information that is usually reserved only for NPD clients.
Featured program speakers included Marshal Cohen, Chief Industry Analyst at The NPD Group; Karen Grant, Vice President and Global Beauty Industry Analyst at The NPD Group and Larry Levin, Executive Vice President and Practice Leader at IRI Worldwide.
The speakers revealed cross-category sales results, key trends and beauty innovations of the past year. They also discussed how shifting consumer demographics and the blurring of sales channels are affecting the industry.
So, this is what we learned:
Total prestige beauty sales for 2013 = $10.8B (up 5% from YAGO) outpacing mass
Total mass beauty sales for 2013 = $21.4B (up 1% from YAGO)
57% of beauty users shop for deals online
Online (or direct-to-consumer) beauty sales up 19% from YAGO
88% of premium makeup consumers (women who spend more than $500 annually on makeup) are 88% more likely to seek online reviews for items they want to purchase
82% of premium makeup consumers are more likely to make purchases online and are 2x more likely to say brand is more important than price
Prestige makeup growth was driven by lip and eye specifically from makeup artist brands
Fragrance – Couture brands, artisanal fragrances, instant indulgences
Lip – Innovation in form and function ex: lip stains crossed with a gloss = YSL Rouge Volupte
Mass Fragrance – Needs to be more fun. Brands need to reach/engage people before they go out to shop
Nail – Need innovation in long-wear
Amazon Beauty – Online beauty spending is growing as evidenced by Amazon’s beauty sales
Mobile shopping – Consumers are checking prices and stock online before buying as millenials are 4x more likely to use mobile for research and/or shopping
Male Grooming – Remains a huge opportunity for both mass and prestige brands
Mass Hair – big drivers are:
1) DIY – do it yourself vs going to the salon
3) New & Exciting
The event was sponsored by SHAPE, Givaudan, 24 Seven, IRI Worldwide, Beauty Inc, WWD, Kaplow Communications and RG3.0 LLC.
CEW is a nonprofit professional organization with over 5,500 executives, both women and men, in the beauty, cosmetics, fragrance and related industries. 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
For more giveaways and contests, sign up for our newsletter HERE.
If you like this post, share it with your friends and give it a LIKE on Facebook.