US beauty sales reach $33.5bn
US beauty industry sales totalled $33.5billion (£21.8bn) last year, according to new data from market analysts Nielsen.
94% of US households purchase beauty products, spending an average of US$98 (£64) a year. However, sales have not increased, with virtually no growth recorded between 2013 and 2014.
Millennials spent US$461million (£300m) on beauty products in the 12-month period ending June 2014. Male spend on beauty products saw a 10% increase between 2013 and 2014.
Manufacturers are primarily focusing their advertising efforts on television, 42%, and print, 54%. Meanwhile, online advertising dropped by 73% between 2013 and 2014.
This is despite the fact that while the number of overall beauty purchase occasions declined by 2% across the US sector last year, online shopping “trips” rose by 15.4%.
Advertisers need to segment their marketing more, to appeal to specific customer groups, Nielsen said.
For example, women under the age of 55 favour products that focus on preserving a youthful appearance, rather than ones centred on anti-ageing.
Women over 55, on the other hand, respond go marketing that clearly and directly address skin ageing concerns such as lines, wrinkles and sagging.