Margie Nanninga12.15.16
The beauty industry slows no signs of slowing down as total US retail sales of beauty products reached an estimated $46.2 billion in 2015, with most sales falling under the color cosmetics, haircare, and facial skincare segments. Driven by an improving economy and growth in the US population, Mintel research highlights that beauty product sales are projected to continue improving through 2020.
Despite sales growth, fragmentation and complexity challenge the industry as there are numerous category players, ranging from global beauty leaders to small, niche brands. The retail landscape is also shifting, with online retailers gaining strength, especially with the explosion of mobile shopping. In this context, larger suppliers and retailers can struggle to maintain consumer interest, while entering the market is difficult for new players.
Women are also showing preference for basic beauty routines. While the majority of women use beauty products, most (69%) spend 20 minutes or less on their daily beauty routine. Although 20 minutes can be more than enough time to apply a range of products, it does sugges
Despite sales growth, fragmentation and complexity challenge the industry as there are numerous category players, ranging from global beauty leaders to small, niche brands. The retail landscape is also shifting, with online retailers gaining strength, especially with the explosion of mobile shopping. In this context, larger suppliers and retailers can struggle to maintain consumer interest, while entering the market is difficult for new players.
Women are also showing preference for basic beauty routines. While the majority of women use beauty products, most (69%) spend 20 minutes or less on their daily beauty routine. Although 20 minutes can be more than enough time to apply a range of products, it does sugges
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