Gen – Page 3 – Beautifaire

12 Sep

How Beauty Brands Are Appealing to the Gen Z Consumer

The Gen Z consumer is a serious goal for beauty brands, as their spending power is important and exponentially growing. In line with a Bloomberg report in 2021, Gen Z commands $360 billion in disposable income. McKinsey published its “The Beauty Market in 2023: A Special State of Fashion” report in May, which found the wonder industry generated roughly $430 billion in revenue last yr. Furthermore, the consulting firm said the industry has been making “a solid recovery because the height of the COVID-19 pandemic” and projects growth by 6 percent a yr, to succeed in $580 billion by 2027. The report authors project that premium beauty tiers will grow at an annual rate of 8 percent from 2022 to 2027, as...

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3 Sep

How Will Student Loan Payments Impact Gen Z and

by Beautifaire101

Beauty, Featured

Today, student loan interest resumes for 43 million U.S. borrowers, with payments set to return starting in October. It’s the primary time American borrowers — who owe a collective $1.6 trillion in student loan debt — will probably be expected to repay their loans since March 2020, when the Department of Education’s COVID-19 student loan forbearance program took effect. And though the return of payments impacts Americans of all ages — 2023 data from Statista indicates that Gen X carries the most important average value of student loan debt, followed by Baby Boomers and Millennials — Gen Z is anticipated to soon overtake older generations in average debt because the cohort ages up. “There isn't any doubt that the resumption of payments goes...

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18 Aug

How Gen Z Is Driving Luxury Beauty Spend for

by Beautifaire101

Beauty, Featured

How Gen Z Is Driving Luxury Beauty Spend for

Members of beauty’s most esteemed old guard are gaining newer, younger loyalists. Luxury heritage brands like Chanel, Dior, Prada and La Mer across categories are catching the coveted eyes and wallets of Gen Z shoppers as that demographic ages into the workforce. Corporations’ marketing efforts reflect that. Young celebs like 31-year-old Austin Butler, 20-year-old Jenna Ortega and 22-year-old Emma Chamberlain have turn out to be sought-after beauty ambassadors, and high-end brands are rethinking distribution to incorporate Gen Z-friendly partners like Ulta Beauty and Amazon. NielsenIQ data says that 61 percent of Gen Z shoppers are buying luxury beauty — higher than Gen X and Boomers, but two percentage points under Millennials — with that spend growing at the identical pace on the mass market....

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30 May

Gen Z Is In search of a Break From

by Beauty Tips

Fashion, Featured

A recent report from Squarespace, the web site constructing and hosting company, checked out multiple generations to know today’s digital habits and sentiments. Surprisingly, the study, which surveyed 1,000 people each within the U.S., Canada, the U.K. and Australia, found that half of Generation Z is all for disconnecting from their smartphones, in comparison with just 20 percent of Baby Boomers. Still, 70 percent of Generation Z said the pliability aspect of access to the web on the phone outweighs the downside of all the time being accessible — a sentiment shared by greater than 60 percent of all survey respondents. The fundamental reason why people have a digital presence is to remain connected. Fifty-three percent of people that responded...

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