The global makeup/skincare industry is alive and well, with new market segments and new products growing exponentially.
Women compete… for males
Professor Lisa Wade (Occidental College), the author of Gender: Ideas, Interactions, Institutions (2014), determined that in the 1920s, as more Americans moved to cities, courtship moved from the home to establishments that cost money, like cabarets and nickelodeons. Men were the ones with the money, and women “had to start appealing to men to get men to pick them” for dates so women started wearing makeup. Companies selling makeup realized they could make twice as much money if they could sell to men; however, it did not happen as gender ideology beat capitalism in this competition. Gender is all about maintaining the idea that men and women are different. Wade determined that, “Anything that we do that undermines distinction is a real threat to male superiority.”
Feminists have debated the politics of makeup for women, weighing the opportunities for experimentation and self-expression against the pressure to conform to a certain standard of beauty. This pressure is being felt by “girls” as young as 8 y/o. The Renfrew Center Foundation determined young girls wear makeup earlier than ever before and 58%, or about 3 in 5 of surveyed young girls (aged 8-18) wear makeup, 28% started wearing makeup after their 16th birthday, and 27% of young women never leave the house without wearing makeup.
Cosmetics sell regardless of age
Aging does not stop the use of makeup/skincare. Anti-aging products, especially those with anti-oxidizing elements of Vitamin C/E, are expected to grow in value by 5.8% and by 2026, the global anti-aging cosmetics industry is estimated to reach $60.26 billion.
In a 2019 research study, author Kyoung J. Baek (Department of Beauty Art, Jeonghwa Arts College, Seoul, Korea) determined that the New Seniors (aka Baby Boomers, born 1955-1963) wore makeup to “achieve a neutral base rather than beautifying their face.” They are using it to contrast the effect of aging and make them look younger rather than prettier.
To reach this target market, the marketing strategy must include training in makeup techniques as seniors need to learn how to apply eye makeup that minimizes saggy eyes, clean eyebrows and hacks to get lip makeup to last longer.
What sells
In the 18-34 y/o group, women say their number one beauty necessity is mascara (Lab42). In second place? Foundation! More than 8 in 10 millennial women (81%) determined that sunscreen protection is important in their foundation, with 86% stating that SPF is also important in their moisturizers.
Incentives
Free. Free. Free. It appears that free samples are seductive and more likely to encourage a purchase.
Yes, discounts are appreciated, but for millennial women, samples spur sales.
Approximately 3 in 4 (72%) have received a free gift with a previous makeup purchase. Of these, 54% postponed a makeup purchase in order to receive a free gift at a later date. For discounts, women head to social media where 45% make a purchase following a discount offer. 68% (2 in 3) prefer to purchase their favorite brands rather than a less expensive product even when finances are tight.
