Table of Contents
Executive Summary
-
- Overview
-
- Figure 1: Beauty brand segmentation, May 2019
- The issues
- Luxury beauty can’t rest on brand alone
-
- Figure 2: Luxury indicators, May 2019
- Luxury beauty is seen as overpriced
-
- Figure 3: Select attitudes toward luxury products, May 2019
- Key 25-34 age group buying fewer luxury products
-
- Figure 4: Buying fewer luxury products compared to year ago, by age, May 2019
- The opportunities
- Embrace green identity and healthy beauty
-
- Figure 5: TURF Analysis – Luxury indicators, May 2019
- Social media has widespread influence among users aged 18-34
-
- Figure 6: Information sources, by age, May 2019
- Demand for customized beauty is the next form of luxury
-
- Figure 7: Interest in innovations, May 2019
- What it means
The Market – What You Need to Know
-
- Majority of women use luxury beauty
- Income isn’t a barrier to category use, but does impact spending
- Shifts in population necessitate focus on older women
- Moms offer opportunity for luxury beauty marketers
- The power of beauty influencers
Market Perspective
-
- Most women use some luxury beauty brands
-
- Figure 8: Beauty brand segmentation, May 2019
- Income isn’t a barrier to luxury beauty
-
- Figure 9: Beauty brand segmentation, by household income and household investable assets, May 2019
- Luxury beauty spending
-
- Figure 10: Spending on luxury beauty products in past 12 months, May 2019
- Income does impact annual spending on luxury beauty
-
- Figure 11: Spending on luxury beauty products, by household income, May 2019
Market Factors
-
- Shifts in population of core luxury beauty users will impact sales
-
- Figure 12: US female population aged 18 or older, by age, 2014-24
- Moms offer strong category engagement and opportunity
-
- Figure 13: Share of births, by age of mother, 2017
- The influence of the influencer
Key Players – What You Need to Know
-
- Luxury beauty strengthens health halo
- Customized beauty takes luxury to the next level
What’s Working?
-
- Incorporating health into luxury beauty
- Healthy ingredients
-
- Figure 14: Share of color cosmetics with free-from and natural claims, 2017-19*
- Health denotes safety
- Health in manufacturing
-
- Figure 15: Share of luxury beauty brands with vegan/no animal ingredients or ethical-animal claims, 2017-19*
What’s Next?
-
- Seeking the next level of customization and personalization
- Beauty from within
- Smart beauty
- Personalizing the shopping/retail experience
The Consumer – What You Need to Know
-
- Emotional connections strengthen use of luxury brands
- Luxury beauty consumers seek retailers that offer guidance
- Reliance on variety of sources suggests women are research driven
- Brand is a top luxury indicator
- Luxury products carry the stigma for being overpriced
- Smart innovations underscore desire for customized beauty
Brand Usage
-
- Emotional connection drives acceptance of luxury brands
-
- Figure 16: Usage of beauty products, by brand type, May 2019
- 25-34s are drawn to luxury beauty brands
- Life events increase purchases of luxury beauty
-
- Figure 17: Usage of luxury prestige beauty products – Any product (net), by age, May 2019
- Moms rely on luxury beauty brands for emotional uplift
-
- Figure 18: Usage of luxury prestige beauty products – Any product (net), by parental status, May 2019
Retailers Shopped
-
- Majority of luxury beauty consumers shop department stores
-
- Figure 19: Retailers shopped – Any category (net), May 2019
- Under 35s shop specialty beauty; 45-54s shop department stores
-
- Figure 20: Retailers shopped – Any category (net), by age, May 2019
- Moms buy luxury beauty online
-
- Figure 21: Retailers shopped – Any category (net), by parental status, May 2019
- Hispanics are more apt to receive luxury beauty products as gifts
-
- Figure 22: Retailers shopped – Any category (net), by Hispanic origin, May 2019
- Correlation between luxury brand usage and specialty beauty retailers
-
- Figure 23: Correspondence Analysis – Symmetrical map – Retailers shopped, May 2019
- Methodology
-
- Figure 24: Retailers shopped, by product type, May 2019
Information Sources
-
- Family/friends and sampling are top information sources
-
- Figure 25: Information sources, May 2019
- Social media has widespread influence among users aged 18-34
-
- Figure 26: Information sources, by age, May 2019
- Moms turn to Facebook for information
-
- Figure 27: Information sources, by parental status, May 2019
- Hispanic luxury beauty users tap social media for information
-
- Figure 28: Information sources, by Hispanic origin, May 2019
Luxury Indicators
-
- Brand name denotes luxury
-
- Figure 29: Luxury indicators, May 2019
- Brand and exclusive ingredients are most important in luxury beauty
-
- Figure 30: TURF Analysis – Luxury indicators, May 2019
- Figure 31: Table – TURF Analysis – Luxury indicators, May 2019
- Methodology
- Young women view packaging as a luxury indicator
-
- Figure 32: Luxury indicators, by age, May 2019
Attitudes toward Luxury Products
-
- Luxury products carry stigma of being overpriced
-
- Figure 33: Attitudes toward luxury products, May 2019
- 25-34s are buying fewer luxury products
-
- Figure 34: Attitudes toward luxury products, by age, May 2019
- Moms draw strong connection between luxury beauty and efficacy
-
- Figure 35: Attitudes toward luxury products, by parental status, May 2019
- Hispanics want more natural ingredients in luxury beauty
-
- Figure 36: Attitudes toward luxury products, by Hispanic origin, May 2019
Interest in Innovations
-
- Demand for customized beauty drives interest in smart innovations
-
- Figure 37: Interest in innovations, May 2019
- Younger women more likely to embrace smart beauty and technology
-
- Figure 38: Interest in innovations, by age, May 2019
Appendix – Data Sources and Abbreviations
-
- Consumer survey data
- Abbreviations and terms
- Abbreviations
- Terms
Back to top