Featured Posts

To top
16 May

Why Gen X Is Prestige Beauty’s Biggest Opportunity

Sandwiched between the Baby Boomers and Millennials, Gen X has all the time been the proverbial middle child of beauty marketing: often missed and continuously undervalued. But what they lack in attention, they make up for in importance, growing their spend greater than every other generation on prestige beauty, in keeping with data from Circana.

And their power is simply growing.

“Gen X goes to be larger than the Boomers in the subsequent 4 years. It’s time for the wonder industry to concentrate on them,” said Larissa Jensen, senior vp and global beauty industry adviser at Circana. “Why? Because beauty is just not nearly youth.”

Jensen sees not only potential, but in addition a necessity. “As you age, your skin changes. Consumers have to be educated about that. And there may be also a necessity for connection,” she said. “It’s almost like as we become older we age out of beauty — we grow to be less essential. But we still want the connection.”

While the cohort will likely be larger than Boomers within the near future, their shopping behavior could be very different. “Although we’re aging, our behaviors align more with younger consumers than older ones,” said Jensen. “Beauty can’t approach them like Boomers.”

For one, it’s more about mindset than price and value, two aspects that drive purchasing decisions for each Boomers and Gen Z and Alphas. “Consumers say it’s more essential to them to feel good than to look good. It’s in regards to the mindset with Gen X — inclusivity and ease,” said Jensen.

“There may be a lot opportunity with this cohort,” she continued. “The sweetness industry has shifted their focus to the Alphas, because that may be a hot topic, but what in regards to the Xers? It’s essential, because there is just not just opportunity — there may be need.”

To raised understand how brands and retailers can tap into the chance, WWD Beauty Inc and Circana teamed up for an exclusive look into the mindset and buying behaviors of Gen X. 

Here, the outcomes.

By the Numbers

Inside the subsequent 4 years, Gen X will outnumber Baby Boomers within the U.S. Already, it’s double the dimensions of Gen Alpha (8 to 14 years old).

Total Gen X: 69,658,318

Total Gen X Female: 35,011,718

Total Gen X Male: 34,646,600

Total Gen Alpha: 29,042,689

Total Gen Alpha Female: 14,176,936

Total Gen Alpha Male: 14,865,753

Big Spenders

Gen X spends about $173 billion annually on general merchandise. Inside that, the biggest categories they spend on are apparel (21 percent), technology (14 percent) and residential improvement (12 percent). Prestige beauty represents 6 percent, about $10.38 billion, nevertheless it is the fastest-growing category when it comes to spend.

Prestige Beauty Growth by Age

55+: +11 percent

45 to 54: +14 percent

35 to 44: +11 percent

25 to 34: +5 percent

18 to 24: +9 percent

Share of wallet is best for fragrance and skincare, with makeup representing about 25 percent of their overall beauty spend. They’re heavier purchasers of makeup and fragrance than other generations. 88 percent report they’ll maintain their overall beauty spend within the upcoming months.

Hair Care: Purchases Over Last 12 Months

Gen X: 94 percent

Boomers: 91 percent

Gen Z/Millennials: 90 percent

Skin Care: Purchases Over Last 12 Months

Gen Z/Millennials: 86 percent

Gen X: 81 percent

Boomers: 74 percent

Makeup: Purchases Over Last 12 Months

Gen X: 72 percent

Gen Z/Millennials: 64 percent

Boomers: 59 percent

Fragrance: Purchases Over Last 12 Months

Gen Z/Millennials: 58 percent

Gen X: 53 percent

Boomers: 32 percent

Top three Gen X Beauty Retailers

Amazon

Sephora

Ulta Beauty

Fastest-growing Beauty Retailers Outside of the Top 3

Kohl’s and Sephora

Nordstrom

Their spending patterns are more closely aligned to younger generations than to Boomers, they usually usually tend to shop online and in specialty channels than older generations.

Percent of Gen X shoppers by channel

Mass: 66 percent

Drug: 42 percent

Online only retailers: 38 percent

Specialty stores: 38 percent

Off-price retailers: 23 percent

Food grocery: 21 percent

Department shops: 16 percent

The Age of Influence

Like their younger counterparts, one in three Gen X consumers research products online before shopping. Loyalty programs are also very essential to them. And their kids have an outsized impact on what they buy; amongst those influenced by their children, 34 percent of Gen X report their children have a “strong influence” on what they buy. Other key aspects: Free samples, recommendations from an adult friend/member of the family and in-store displays.

Gen X is more comfortable with aging terms than other generations, but eschews anything that makes them feel old. Here, so as, the highest antiaging product descriptions:

  1. Antiaging
  2. Preventative
  3. Age-defying
  4. Regenerative
  5. Age-prevention
  6. Ageless
  7. For mature skin
  8. Timeless
  9. Menopausal

Buying beauty products is taken into account an incredible approach to treat yourself.

Gen X: 75 percent

Gen Z/Millennials: 67 percent

Boomers: 64 percent

This Is Me

Representation matters. Gen X is extremely invested in beauty — and needs to see their hopes and aspirations reflected back. Circana asked Gen X survey respondents what they wished the wonder industry knew about them. Many spoke about their top concerns, including rosacea, pimples and wrinkles, and there was a robust thread to have a good time aging, too.

“Age doesn’t mean you’re old.”

“I don’t like gimmicks. Do promoting that’s true. We aren’t all alike and all women are beautiful in our own way.”

“I want help with age-related skin issues and I want things that basically work.”

“It’s essential to stop using young women who aren’t even near getting wrinkles to advertise antiaging products.”

“I’m busy and I need products which have good results.”

“Aging is natural. Don’t make someone feel bad for the conventional progression of aging. Laugh lines mean I live and laugh.”

“It’s all in regards to the products! Describe them as they’re, and make sure that they work as promised.”

“I’m middle-aged, not dead!”

Recommended Products

Beautifaire101
No Comments

Sorry, the comment form is closed at this time.