Why Gen X Is Prestige Beauty’s Biggest Opportunity

16 May

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...

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30 Nov

Ulta Beats Wall Street Forecasts, Increased Competition in Prestige

by Beautifaire101

Beauty, Featured

Ulta Beauty beat Wall Street’s top-line forecasts — though shoppers shied away from prestige in the corporate’s stores as competition heats up the category. Net sales increased 6.4 percent to $2.5 billion within the three months ended Oct. 28, in comparison with $2.3 billion a 12 months earlier, above analysts’ expectations for $2.47 billion. Skincare was once more its fastest-growing category, driven by double-digit growth within the mass and prestige segments. Among the many brands highlighted as growth drivers were Drunk Elephant, Good Molecules, La Roche Posey and Dermalogica. The fragrance and bath category delivered low-double-digit growth, while sales within the makeup category were flat, with midsingle-digit growth in mass makeup offsetting a modest decline in prestige makeup. “While many mass brands proceed to...

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30 Jul

The Top-selling Prestige and Mass Fragrance Brands so Far

by Beautifaire101

Beauty, Featured

Fragrance is up. In response to Circana, the category saw 13 percent and 11 percent growth in dollar sales within the prestige and mass markets, respectively, in the course of the first half of 2023. “The mass numbers are so strong, it’s almost [growing at] the identical rate as prestige; that’s somewhat unusual because typically, fragrance on the mass side will not be as dynamic a market. Fragrance could be very much a prestige business,” said Larissa Jensen, vice chairman of beauty at Circana. While average price increases and latest innovation — like Maesa’s Advantageous’ry brand — are driving growth in mass dollar sales, the channel has seen a 3 percent decrease in unit sales in the course of the...

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29 May

Amazon Sees Further Growth in Prestige Market – WWD

by Beautifaire101

Beauty, Featured

While Amazon is well established within the prestige segment, the net giant sees an extra opportunity to grow. In the course of the WWD Beauty CEO Summit, Melis del Rey, Amazon general manager of U.S. stores, beauty, baby and sweetness technology, said the corporate is taking its Premium Beauty business to the subsequent level via brand partnerships. Del Rey also said the corporate has been increase the category to present customers a luxury experience through beauty technology. In a conversation with Jenny B. High quality, executive editor, beauty, of WWD and Beauty Inc, del Rey said with over 20 years of beauty experience, she is leading the charge to make Amazon Premium Beauty an industry leader and throughout the beauty tech domain....

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