Three groups are altering beauty at retail.
NEW YORK -- Gen X, Asian Pacific Americans and baby boomers are three segments of the population that will leave an imprint on beauty retailing in the years to come.People born between 1965 and 1980 are often overlooked and overshadowed by younger Millennial counterparts. The so-called Gen X, however, is making waves in beauty, and needs to be addressed, according to Larissa Jensen, senior vice president and global beauty industry adviser at Circana. The cohort is going to be bigger than boomers in the next four years, she says.
"There is so much opportunity with this cohort," she adds, noting that many marketers are missing an opportunity by pivoting to Gen Alpha. Gen X, as a comparison, is larger than Gen Alpha. They are big at researching online, she says, and loyalty programs are important to them. Circana research reveals their biggest concerns are rosacea, acne and wrinkles.
Brands mentioned as tracking with Gen X include Nest candles, Kosas, Rare Beauty, Living Proof, Ouai and Summer Fridays.
Retailers and brands have done a good job of reaching Black and Latinx consumers, but there are more opportunities to address the beauty needs of Asian Pacific Americans.
NielsenIQ highlights the power of Asian American consumers and the diversity of those who make up the segment. In the U.S., the Asian population is currently comprised of the following ethnicities: 22% Chinese; 20% Indian; 17% Filipino; 9% Vietnamese; 8% Korean; 6% Japanese --and 19% who identify as two or more ethnicities. Additionally, the number of Asians in the U.S. has nearly doubled since 2000, with the population skewing younger, more educated and more affluent than the average American.
Spending by Asians over-indexes in most of the categories within beauty and personal care.
In the facial skin care category, Asian consumers are outspending the average buyer in every category, with the highest dollar spend difference in moisturizer and skin appliances.
"Recognizing our multifaceted community is the key to unlocking its huge purchasing power, and breaking out the Asian American consumer is the first small step," says Sara Liang, product manager at NIQ. Opportunities exist in understanding the different skin types, hair types and preferences of the dozens of cultures under the Asian American umbrella, she adds.
During AAPI Heritage Month in May, Garnier helped make a difference. The L'Oreal-owned brand teamed up with Gold House, a. nonprofit that supports Asian Pacific creators and companies to support AAPI entrepreneurs.
Brands Target highlighted during May for AAPI Heritage Month included Mighty Patch, Tree Hut and Avatara.
It may seem odd to pinpoint baby boomers as overlooked. For many years the cohort born between 1946 and 1964 dominated headlines and marketing efforts. As they aged, however, the focus shifted to younger customers.
Laura Geller and Bobbi Brown's Jones Road are singled out as brands with boomers in mind--but they are prestige brands. There is white space in the mass market, says industry consultant Allan Mottus. Mature women want products for them, but marketing images are not how they see themselves, he adds.
Brooke Shields hopes to fix that. Shields, 58, just launched Commence, a hair care brand formulated for people over 40.
There have been efforts to launch brands for older women such as Revlon's Vital Radiance. "It may have been ahead of its time," says Mottus. "The time is right for someone to try again."
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| Title Annotation: | BEAUTY CARE REPORT: GENERATION X |
|---|---|
| Publication: | Chain Drug Review |
| Geographic Code: | 1USA |
| Date: | Jun 10, 2024 |
| Words: | 559 |
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