4% dip in number of US beauty buyers

The number of female US consumers buying beauty products dropped 4% between 2008 and 2014, according to new research from market analyst the NPD Group. 

This, the company stated, is despite the fact that eight out of 10 female consumers in the US purchase beauty products.

Karen Grant, global beauty industry analyst at the NPD Group, said:

“Today, there is more competition among beauty brands and retailers, and more competition between beauty and other products, services, and even experiences, such as vacations, entertainment, and dining.

The consumer's desires outside of beauty have become just as important as those inside.”

The key motivating factor for women buying beauty products is, the research found, a wish to feel more confident, with feeling sexy being the second most important driver. 

Consumers are 1.5 times more likely to cut back on spending on makeup and fragrances in tough economic times, compared to skincare and hair care. 

This, NPD explained, is because the former two categories are to a greater extent viewed as something for “special occasions”. 

The research revealed some seemingly contradictory data. 50% of participants stated that beauty products were among the first categories they would restrict spending on if money was tight. 

However, the same percentage said they would still continue to purchase beauty products, as they boost their confidence. 

Grant said: “These distinct differences among beauty shoppers keep us, as an industry, on our toes and can also be seen as a positive because they [constitute] a big opportunity for the industry.

If the industry responds to the consumer in new and exciting ways, these opportunities will drive growth in 2015.”