Skin care sales in the United States in 2019, by segment in million U.S. dollars

OVERVIEW

Luxury Revenue Share in percent

No matter your gender, age, or ethnic background, everyone can benefit from investing in a skin care routine. Skin care products are unique among cosmetic products in that they are often deemed necessary by medical professionals, particularly products that offer UV protection. While many people wear no makeup or use no hair styling products, nearly everyone has some form of skin care product, even if it’s just a bottle of lotion or a tube of sunscreen.

The United States has a thriving skin care market. The two best-selling skin care products in the U.S. are facial cleansers and acne treatments, selling 316 million and 13.85 million units respectively in 2019.

Every year new and innovative products come onto the market, so it should come as no surprise that anti-aging skin care market in the United States is projected to grow substantially between 2015 and 2021. The anti-aging facial products with the largest market shareare the Olay Regenerist Micro-Sculpting, the regular Olay Regenerist, and the Neutrogena Rapid Wrinkle Repair.

U.S. consumers, 52 percent reportedly use skin care products every day65 percent of women in the United States use skin care products every day, compared to 37 percent of men.

The U.S.’s millennial group is aging, the younger generations have a huge impact on the country’s care and beauty care industry. The young generation tends to spend a high amount on the skincare, color cosmetics, and other personal care products for ensuring their appearance matching with their social media presence.

The rise in social media, beauty specialist retailers and e-commerce have given the brands huge opportunities for success. Demand for personal care products is increasing due to the increasing purchasing power of millennials and significant players undertaking acquisitions and divestments to remain competitive.

 Also, increasing demand for anti-aging products is propelling the growth of this market.Owing to this factor, manufacturers are focusing on launching new and innovative products, in order to increase their offerings and customer base, which, in turn, would provide them an edge over their competitors.

Revenue in the Skin Care segment amounts to US$18,119.1m in 2020. The market is expected to grow annually by 5.4% (CAGR 2020-2023).By 2020, 71% of sales in the Skin Care segment will be attributable to Non-Luxury goods

Skin care sales in the United States in 2019, by segment (in million U.S. dollars)

Key Market Trends

GROWING INCLINATION TOWARDS ORGANIC, NATURAL, AND CRUELTY-FREE PRODUCTS

Growing consumer concern is causing an increase in the demand for organic and natural skincare, and “platinum collection beauty” products. For instance, Platinum Deluxe® cosmetics announced the launch of the company’s new category called platinum collection at Platinum Deluxe, that clearly establishes which of their products are formulated without controversial ingredients. Those that meet Platinum Deluxe ingredients guidelines are termed as “platinum collection” and receive the retailer’s platinum collection at Platinum Deluxe. Similarly, consumers in the market tend to prefer products with the label ”cruelty-free”, denoting that animals are not harmed in the testing of such products. For instance, Wet n Wild is a popular cosmetics products brand in the United States that markets its products as cruelty-free. Moreover, in recent times, there is a sharp rise in the number of beauty blogs and social media accounts that are committed to the benefits of going chemical-free, which has worked in favor of natural and cruelty-free products by enhancing consumer’s information.

INCREASED SPENDING OF UNITED STATES CONSUMERS ON BEAUTY AND PERSONAL CARE PRODUCTS

Consumer spending towards cosmetics and other personal care products has witnessed a rise. For instance, according to data published by Bureau of Labor Statistics, the average annual expenditure on cosmetics, perfume and bath preparation products per consumer unit in the United States is forecasted to grow at a CAGR of 5.55% in the period 2015-2017. Due to the increase in advertising and promotional activities, the consumers in the United States are still buying these cosmetics. Additionally, often the advertisements are focused towards a specific age group, such as adolescents or ageing-women, in an effort to influence and target specific population groups. Due to frequent product innovation in the market, consumers are being introduced to new types of products, and trying them out. Consumers generally want to ensure that they buy products that suit their skin or hair type and thus, product trial is important in the cosmetics market. Thus, companies such as Avon and Estee Lauder Company have been increasing their marketing expenditures towards such activities in recent years.

Changing lifestyles

Improvement in the current lifestyles of the individuals is majorly affecting the cosmetics market. Consumers have now become more conscious regarding the usage of cosmetics in their daily life in an effort to step up their style quotient and overall personality. Cosmetics play an important role in enhancing one’s inherent beauty and physical features. Men are also increasingly using cosmetics in their daily routine including various types of fragrances and deodorants. This growing demand of cosmetic products has in turn led to the growth of cosmetics market across the world.

Rising GDPs of all the regions

During recession 2007-2009, there was an overall global rise in GDP and economies across various regions. Presently, increasing GDPs of various countries is positively affecting the global cosmetics market. Continuous rise in GDP has improved the economies of various countries and has raised the spending capabilities of individuals. Rising disposable income levels of the individuals across various regions is driving them to buy personal luxury goods, which, in turn, is positively influencing the global market growth.

Competitive Landscape

Major players in the United States beauty and personal care products market include Unilever, Loreal, The Estee Lauder Companies Inc., and Proctor and Gamble with popular brands such as  Dove, Maybelline New York, M.A.C., and Olay.

The market is highly competitive with players actively competing in terms of new product launches, mergers and acquisitions, expansions and partnerships. Additionally, leading players are investing heavily on research and development to come up with product innovations. 

 PLATINUM DELUXE COMPETITORS

  1. LOREAL

L’Oréal manufactures and sells cosmetic products for women and men worldwide. It operates through four divisions: Consumer Products, L’Oréal Luxe, Professional Products, and Active Cosmetics. The Company offers shampoos, hair care products, shower gels, skin care products, cleansers, hair colors, styling products, deodorants, sun care products, make-up, perfumes, etc. L’Oréal provides its products under the L’Oréal Paris, Garnier, Maybelline New York, NYX Professional Makeup, Lancôme, Yves Saint Laurent Beauté, and other brands.

Founded in 1909, the L’Oréal Group has devoted itself solely to one business: beauty. It is a business rich in meaning, as it enables all individuals to express their personalities, gain self-confidence and open up others. L’Oréal has set itself the mission of offering all women and men worldwide the best of cosmetics innovation in terms of quality, efficacy and safety. Providing access to products that enhance well-being, L’Oréal has made the universalization of beauty its project for the years to come.

The L’Oréal Group has become the largest cosmetics and Beauty Company in the world. In 2016, L’Oréal was the leading personal care brand in the world with a brand value that amounted to 23.52 billion U.S. dollars. Once again, 2016 was a good year for L’Oréal on many fronts. The Group achieved strong sales growth and once again demonstrated its ability to outperform the beauty market, and to gain market share, even in the more difficult markets of Western Europe and the United States. In 2016, L’Oréal also continued to reflect the integration of the Group’s internationalization, as the “new markets” segment remained to be the company’s number one geographic zone in terms of sales.

The company’s cosmetic branch is primarily focused on skin care, hair care, make-up, hair colorants and perfumes. In 2016, skincare generated almost 30 percent of L’Oréal’s global cosmetic salesamounting to over seven billion euros.

The company did have a void in terms of addressing young consumers looking for affordable yet exciting color cosmetics, which Urban Decay is expected to fulfill. However, it needs to address its presence in the affordable natural/organic segment going forward.

With worldwide sales of over 29.8 billion euros in 2019, L’Oreal is the world’s largest cosmetics and Beauty Company, concentrating on hair color, skin care, sun protection, make-up, perfumes, and hair care.

ANTI-AGING CREAM FOR…A DULL SKIN TONE

As skin matures, it can start to appear duller. The L’Oréal Paris Age Perfect Rosy Tone SPF 30 Sunscreen Face Moisturizer is an intense daily anti-aging moisturizer that’s enhanced with rosy pigments to instantly revive the look of skin’s rosy tone. The rich, non-greasy formula smooths gently over skin to nourish it with moisture, while the rosy pigments help to reveal a younger look. Skin is immediately hydrated after using. Bonus: It’s also formulated with broad-spectrum SPF 30 (more on that soon). In the morning, smooth this anti-aging cream gently over your face after cleansing in a circular motion.

SKIN CARE PRODUCTS

ANTI-AGING CREAM FOR…SUN PROTECTION

Broad-spectrum sunscreen is a skin care must year-round—no matter your age. According to the Food and Drug Administration (FDA), you should apply a broad-spectrum sunscreen with an SPF of 15 or higher daily as directed. The L’Oréal Paris Revitalift Triple Power Day Lotion SPF 30 is an anti-aging moisturizer formulated with broad-spectrum SPF 30 that works to reduce the appearance of wrinkles and firm and brighten skin. Keep in mind, according to the FDA, applying sunscreen isn’t the only sun protection measure you should take. Additionally, you should also reapply every two hours (or immediately after swimming or sweating), limit your amount of time in the sun (especially between 10 a.m. and 2 p.m.), seek shade, and wear long-sleeved shirts, pants, hats, and sunglasses.

ANTI-AGING CREAM FOR…VERY DRY OR SENSITIVE SKIN

Both dry and sensitive skin types need special care, which means you’ll want to be strategic with your moisturizer choice. The L’Oréal Paris Age Perfect Hydra Nutrition Honey Day Cream is formulated with nourishing manuka honey and helps envelop skin with a replenishing layer of long-lasting, non-sticky hydration. In addition to being ideal for very dry and sensitive skin types, it’s also paraben-free. Apply a light layer onto clean skin every morning, and at nighttime, swap it out for the L’Oréal Paris Age Perfect Hydra Nutrition Honey Night Balm.

ANTI-AGING CREAM FOR…OVERNIGHT NOURISHING

Sometimes, it pays to use a different moisturizer at night than what you used in the morning. If you’re looking for an anti-aging night cream, try the L’Oréal Paris Age Perfect Cell Renewal Night Cream. The rich creamy texture comforts and nourishes skin. Skin feels nourished immediately, while skin appears renewed with continued use over time. Every night, smooth this cream onto your face in an upward motion until thoroughly absorbed. For best results, first apply the L’Oréal Paris Age Perfect Cell Renewal Golden Serum over cleansed skin then layer the moisturizer on top

ANTI-AGING CREAM FOR…OVERNIGHT RADIANCE

Turn your AM and PM moisturizing routine into a spa-like experience with our best anti-aging night mask (which is basically just a heavy-duty night cream). The L’Oréal Paris Triple Power Triple Power Anti-Aging Overnight Mask is formulated with three of the top proven anti-aging ingredients: Pro-Retinolvitamin C, and hyaluronic acid to visibly reduce wrinkles, firm, and brighten skin. Overnight, skin is visibly more radiant and resilient. Smooth over your face and neck every evening as the last step in your nightly skin care routine.

ANTI-AGING CREAM FOR…MULTIPLE AGING SKIN CONCERNS

Not everyone has just one concern they’re looking to address. If you want to tackle more than one need your skin has, the L’Oréal Paris Revitalift Anti-Wrinkle + Firming Face + Neck Fragrance Free is a perfect choice. Formulated with Pro-Retinol and centella asiatica, the anti-aging moisturizer helps smooth, firm, and hydrate areas of your skin that can be prone to visible signs of skin aging, like wrinkles and loss of elasticity. Smooth it over your neck and jawline until thoroughly absorbed after cleansing in the morning and evening.

STRENGTHS

A variety of beauty and cosmetic products.

No one has a bigger share in the beauty and cosmetic world than L’oreal. Many companies decide to branch into this industry with a product line or two. But L’Oréal is fully invested in this space and has been since they were founded. You’ll see the L’oreal brand while walking through the makeup, hair, and skincare aisles of your local department store.

L’oreal portfolio of products is astounding. Garnier, Nyx, Maybelline, LANCOME, Shu Uemara. L’oreal clearly dominates this industry because they’ve acclaimed such high profile brands under their name.

High quality.

L’oreal doesn’t just offer inexpensive, department store products. They’ve also moved into the luxury brand, offering high-quality products for the individual who shops on a richer budget. Or if a customer wants a bit of both worlds — cost-effective and expensive — they can easily find what they’re looking for through L’oreal.

International access.

L’oreal’s catalogue boasts brands from all over the world. And you can find L’oreal in more than 120 countries. They manufacture and distribute products in bulk which is less expensive than buying small quantities at a time.

Moving into organic.

Consumers want glowy skin and healthy hair. And for many, that means less chemicals and questionable ingredients in their hair and skin products. It’s more costly for companies to use natural ingredients, but L’oreal didn’t hesitate. On top of putting an end to testing on animals in 1987, they now offer a complete natural and organic line of products.

Endless research.

Because L’oreal has so many products in different niches of the beauty and cosmetic industry, the company relies heavily on research and development. Consumers want products that work, but are also safe for their bodies. That means understanding how to offer sun protection in skin care and makeup products. And cutting out sulfates, parabens, and silicones from hair products. L’oreal works with dermatologist, cosmetologists, and scientists to provide the top-of-the-line products customers crave.

WEAKNESSES

Growing saturation.

The entrance of new skin care product line have affected the company in coping up with the ever increasing pressure to come up with more differentiated skin care products

Shrinking profit margins.

L’oreal heavily invests in research in development. They must if they want to keep their customers happy. Unfortunately, it’s massively expensive. And it’s eating away at their profits — at least in comparison to the competition. Still, focusing so heavily on research and development is how L’oreal has stayed competitive in this saturated market. So this is both a strength and a weakness for the brand.

Slow divisions.

Since L’oreal offers so many products, they require a number of subdivisions to handle everything. As such, they have more than 60,000 employees accounting for product development, manufacturing, disbursement, and customer service. The company’s human capital expenditure is no joke. But neither are the problems. Relying on so many people to manage products leads to issues, such as slowness.

  • COTY INC

Coty is a beauty company with a portfolio of well-known brands in four categories: fragrances, color cosmetics, skin care, and body care. Coty is organized into three divisions: Coty Consumer Beauty, Coty Luxury and Coty Professional Beauty, each focused on their respective categories and channels, with a lean structure to enable faster decision making, focused investments and better communication with customers and consumers.
Coty Consumer Beauty is focused on color cosmetics, retail hair coloring, and styling products, body care and mass fragrances, with the intent of providing consumers with innovative products primarily in the mass retail channel. Coty Luxury is focused on expanding Coty’s leadership position in prestige fragrances and skincare in the Luxury Beauty market, across all regions and luxury channels, including travel retail. Coty Professional Beauty is focused on servicing salon owners and professionals in both hair and nail care, covering all key salon segments and salon client needs. 

Their product portfolio includes world renowned brands such as Marc Jacobs, Calvin Klein, Chloé, Gucci, Hugo Boss, Tiffany & Co, Balenciaga, Bottega Veneta, Alexander McQueen, Davidoff, Burberry and Miu Miu, as well as skincare brands with Lancaster and philosophy.

STRENGTHS OF COTY INC

  • Superb Performance in New Markets – Coty Inc. has built expertise at entering new markets and making success of them. The expansion has helped the organization to build new revenue stream and diversify the economic cycle risk in the markets it operates in.
  • Successful track record of developing new products – product innovation.
  • Strong Free Cash Flow – Coty Inc. has strong free cash flows that provide resources in the hand of the company to expand into new projects.
  • Good Returns on Capital Expenditure – Coty Inc. is relatively successful at execution of new projects and generated good returns on capital expenditure by building new revenue streams.
  • Automation of activities brought consistency of quality to Coty Inc. products and has enabled the company to scale up and scale down based on the demand conditions in the market.
  • Strong Brand Portfolio – Over the years Coty Inc. has invested in building a strong brand portfolio. The SWOT analysis of Coty Inc. just underlines this fact. This brand portfolio can be extremely useful if the organization wants to expand into new product categories.
  • Successful track record of integrating complimentary firms through mergers & acquisition. It has successfully integrated number of technology companies in the past few years to streamline its operations and to build a reliable supply chain.
  • Highly skilled workforce through successful training and learning programs. Coty Inc. is investing huge resources in training and development of its employees resulting in a workforce that is not only highly skilled but also motivated to achieve more.

WEAKNESSES

  • Days inventory is high compare to the competitors – making the company raise more capital to invest in the channel. This can impact the long term growth of Coty Inc.
  • Limited success outside core business – Even though Coty Inc. is one of the leading organizations in its industry it has faced challenges in moving to other product segments with its present culture.
  • The profitability ratio and Net Contribution % of Coty Inc. are below the industry average.
  • Not highly successful at integrating firms with different work culture. As mentioned earlier even though Coty Inc. is successful at integrating small companies it has its share of failure to merge firms that have different work culture.
  • Investment in Research and Development is below the fastest growing players in the industry. Even though Coty Inc. is spending above the industry average on Research and Development, it has not been able to compete with the leading players in the industry in terms of innovation. It has come across as a mature firm looking forward to bring out products based on tested features in the market.
  • The company has not being able to tackle the challenges present by the new entrants in the segment and has lost small market share in the niche categories. Coty Inc. has to build internal feedback mechanism directly from sales team on ground to counter these challenges.
  • Financial planning is not done properly and efficiently. The current asset ratio and liquid asset ratios suggest that the company can use the cash more efficiently than what it is doing at present.
  • SALLY BEAUTY

Sally Beauty is a specialty retailer and distributor of professional beauty supplies. It operates through two segments: Sally Beauty Supply, which offers beauty products to retail customers and salon professionals; and Beauty Systems Group, which offers professional beauty products, directly to salons and salon professionals through its sales force, as well as through company-operated and franchised stores. Sally Beauty supplies hair color and care, skin and nail care, beauty sundries and styling tools.

STRENGTHS

  • Strong distribution network – Over the years Sally Beauty Holdings has built a reliable distribution network that can reach majority of its potential market.
  • Strong dealer community – It has built a culture among distributor & dealers where the dealers not only promote company’s products but also invest in training the sales team to explain to the customer how he/she can extract the maximum benefits out of the products.
  • Highly successful at Go To Market strategies for its products.
  • Strong Free Cash Flow – Sally Beauty Holdings has strong free cash flows that provide resources in the hand of the company to expand into new projects.
  • Strong Brand Portfolio – Over the years Sally Beauty Holdings has invested in building a strong brand portfolio. The SWOT analysis of Sally Beauty Holdings just underlines this fact. This brand portfolio can be extremely useful if the organization wants to expand into new product categories.
  • Automation of activities brought consistency of quality to Sally Beauty Holdings products and has enabled the company to scale up and scale down based on the demand conditions in the market.
  • Highly skilled workforce through successful training and learning programs. Sally Beauty Holdings is investing huge resources in training and development of its employees resulting in a workforce that is not only highly skilled but also motivated to achieve more.
  • Good Returns on Capital Expenditure – Sally Beauty Holdings is relatively successful at execution of new projects and generated good returns on capital expenditure by building new revenue streams.

WEAKNESSES

  • Need more investment in new technologies. Given the scale of expansion and different geographies the company is planning to expand into, Sally Beauty Holdings needs to put more money in technology to integrate the processes across the board. Right now the investment in technologies is not at par with the vision of the company.
  • The profitability ratio and Net Contribution % of Sally Beauty Holdings are below the industry average.
  • Organization structure is only compatible with present business model thus limiting expansion in adjacent product segments.
  • Limited success outside core business – Even though Sally Beauty Holdings is one of the leading organizations in its industry it has faced challenges in moving to other product segments with its present culture.
  • Financial planning is not done properly and efficiently. The current asset ratio and liquid asset ratios suggest that the company can use the cash more efficiently than what it is doing at present.
  • High attrition rate in work force – compare to other organizations in the industry Sally Beauty Holdings has a higher attrition rate and have to spend a lot more compare to its competitors on training and development of its employees.
  • The marketing of the products left a lot to be desired. Even though the product is a success in terms of sale but its positioning and unique selling proposition is not clearly defined which can lead to the attacks in this segment from the competitors.
  • REVLON

Revlon is a provider of cosmetics, hair color, fragrances, skincare, and beauty care products. It operates in two segments, the Consumer division, and the Professional division.

Its Consumer segment global brand portfolio includes Revlon color cosmetics, Almay color cosmetics, SinfulColors color cosmetics, Pure Ice color cosmetics, Revlon ColorSilk hair color, Revlon Beauty Tools, Charlie fragrances, and Mitchum antiperspirant deodorants.

Revlon’s Professional segment global brand portfolio includes Revlon Professional, CND, and American Crew men’s grooming products. The Company sells its products through sales force, sales representatives, and independent distributors.

STRENGTHS OF REVLON

  • Strong dealer community – It has built a culture among distributor & dealers where the dealers not only promote company’s products but also invest in training the sales team to explain to the customer how he/she can extract the maximum benefits out of the products.
  • Successful track record of developing new products – product innovation.
  • Strong Free Cash Flow – Revlon has strong free cash flows that provide resources in the hand of the company to expand into new projects.
  • Superb Performance in New Markets – Revlon has built expertise at entering new markets and making success of them. The expansion has helped the organization to build new revenue stream and diversify the economic cycle risk in the markets it operates in.
  • High level of customer satisfaction – the company with its dedicated customer relationship management department has able to achieve a high level of customer satisfaction among present customers and good brand equity among the potential customers.
  • Highly skilled workforce through successful training and learning programs. Revlon is investing huge resources in training and development of its employees resulting in a workforce that is not only highly skilled but also motivated to achieve more.
  • Automation of activities brought consistency of quality to Revlon products and has enabled the company to scale up and scale down based on the demand conditions in the market.
  • Strong Brand Portfolio – Over the years Revlon has invested in building a strong brand portfolio. The SWOT analysis of Revlon just underlines this fact. This brand portfolio can be extremely useful if the organization wants to expand into new product categories.

WEAKNESSES

  • Financial planning is not done properly and efficiently. The current asset ratio and liquid asset ratios suggest that the company can use the cash more efficiently than what it is doing at present.
  • Not very good at product demand forecasting leading to higher rate of missed opportunities compare to its competitors. One of the reason why the day’s inventory is high compare to its competitors is that Revlon is not very good at demand forecasting thus end up keeping higher inventory both in-house and in channel.
  • The profitability ratio and Net Contribution % of Revlon are below the industry average.
  • Need more investment in new technologies. Given the scale of expansion and different geographies the company is planning to expand into, Revlon needs to put more money in technology to integrate the processes across the board. Right now the investment in technologies is not at par with the vision of the company.
  • Investment in Research and Development is below the fastest growing players in the industry. Even though Revlon is spending above the industry average on Research and Development, it has not been able to compete with the leading players in the industry in terms of innovation. It has come across as a mature firm looking forward to bring out products based on tested features in the market.
  • Organization structure is only compatible with present business model thus limiting expansion in adjacent product segments.

LUXURY SKIN CARE MARKETING STRATEGY

1. Improve discoverability and desirability by working with social media influencers and investing in digital storytelling

As consumers increasingly spend more time searching for information about their beauty routines online, social media plays an important role in the beauty purchase journey online. Digital communities are indeed facilitating new product and brand discovery among modern consumers.

Growth in the beauty market is partly fueled by the desire to be selfie-ready, and the impact of beauty digital influencers and social media platforms on beauty ideals. Modern affluent consumers, especially Millennials and Gen Z shoppers are influenced by, and value the opinions of, the online community.

Beauty vlogging isn’t new, but beauty brands have rapidly ramped up their involvement with YouTube personalities who attract massive audiences with their makeup tutorials and how-to videos.

With its shoppable features, Instagram is also emerging as a social network of choice for affluent beauty shoppers, bringing the point-of-sale right to the point-of-discovery.

2. Tap into crowdsourcing to develop new beauty products

Crowdsourcing is taking the beauty industry, especially indie beauty brands, to a whole new frontier by redefining the way beauty products are conceptualized, produced and sold.

Innovative beauty challengers (such as Glossier) use their online communities via social media to solicit consumers’ input and feedback.

By empowering consumers to become co-creators, Indie beauty brands can foster emotional attachments and thus build early customer loyalty, giving new brands an edge over legacy brands.

3. Deliver a holistic beauty experience through cross-segment wellness collaboration

Fighting urban pollution. Protecting your skin from damaging blue light. Caring for your face with toxin-free products. The quest for wellness and a healthier lifestyle is transforming attitudes towards the beauty industry. We expect to see increased crossover and collaborations between beauty, fitness and wellness brands playing in these adjacent sectors.

4. Digital enables personalised beauty solutions at scale

Technology allows beauty brands to be authentically relevant to individuals, at scale.A growing number of beauty brands and retailers are thus harnessing the power of data and technology — such as artificial intelligence (AI) and augmented reality (AR), algorithms, apps and scanners — to offer consumers an unprecedented level of product personalization according to consumers’ skin types and their personal needs.But while beauty shoppers tend to be ahead of the Fast-Moving Consumer Goods (FMCG) curve in online shopping, we’re still very early in the development of truly connected beauty.

5. Beauty inclusivity: Embrace diversity and become genderless

The men’s beauty category is often cited as a high-growth beauty market segment, as image-conscious male consumers are showing increasing enthusiasm for grooming and beauty product categories.

6. A new attitude: Forget anti-ageing, think healthy ageing

Ageing demographic trends and the increasing desire to retain youthful appearances have groomed the cosmetics industry, worldwide. This growing consumer segment deserves brands’ attention.

In parallel, wellness-focused millennial consumers approach ageing with a desire for healthy rejuvenation. Luxury beauty brands should leverage this momentum to promote preventative skincare and holistic skin maintenance beauty products — including skin protection features such as air and digital pollution.

REFRENCES

https://www.statista.com/topics/4517/us-skin-care-market/

https://www.statista.com/statistics/551427/us-skin-care-sales-by-segment/

https://craft.co/loreal/metrics

https://craft.co/coty/revenue

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