Over 50s drive UK beauty sales
Women over 50 are now the biggest buyers of beauty products in the UK and those over 60 now account for a quarter of all UK beauty sales - more than double what it would have been a decade ago.
This is according to new research by beauty retailer Escentual.com, which credited the rise to an increase in beauty brands using older celebrity brand ambassadors, such as Helen Mirren for L’Oreal and Tilda Swinton for Nars.
The 45-54 age group is now spending £2,238 a year on beauty products - up 4.1% on previous years, while the 55-64 age group spends £2,190.45 a year, up 4.9%, making this the biggest growth segment in the UK, and the second highest spending group.
Total average expenditure on beauty products for women between the ages of 50-70 is now £43,446, and women over 45 now account for 58.14% of the beauty market.
Escentual.com beauty director Emma Leslie commented, “The peak age for women to take care of their beauty is now 49. They are much more likely nowadays to pay for premium products to help maintain a more youthful appearance. Back in the 2000s the peak spending age would have been around the late 30s.”
Conversely, expenditure of young women has dropped slightly. For the 19-24 group it is down by 12% to around £1,759 a year, and for the 25-34 age group it has dropped by 5% to £2,045. For the 35-44 group, there was a slight increase of 1.2% to £2,183.