Anti-Aging Skincare - US - February 2014
“Lines between the anti-aging and general facial skincare categories continue to blur, hampering sales growth for both markets. Offering shoppers more targeted solutions to anti-aging skincare concerns while also providing them with more informational tools will be essential in driving future growth while also better differentiating the two markets.”
– Shannon Romanowski, Senior Beauty and Personal Care Analyst
Some questions answered in this report include:
- How can the anti-aging skincare category return to positive sales growth?
- How can the anti-aging skincare category be easier to shop?
- How can the mass anti-aging skincare market better compete with the prestige market?
After years of growth, the anti-aging skincare category has experienced declines between 2011 and 2013. An increasingly competitive and saturated marketplace, combined with the migration of anti-aging claims to other categories beyond skincare is likely inhibiting growth. While current economic trends should benefit the category, it is likely at the expense of the mass market. The prestige anti-aging skincare market appears to be growing, as consumers are willing to spend more on anti-aging skincare and may see value in using prestige or dermatologist endorsed brands. On the contrary, the mass anti-aging skincare is increasingly confusing to shop, often with little assistance from associates, potentially sending shoppers to other retail outlets, other product categories, or discouraging purchase altogether.
However, despite slumping sales, there are growth opportunities within the anti-aging skincare market. Shoppers express high levels of interest in new claims and benefits including customized skincare solutions based on usage occasion (ie season, time of day). In addition, creative retailing and more education/in-store information could make the category easier to shop, helping to increase usage and awareness of new items and benefits. Lastly, men, multicultural, and older consumers are all relatively untapped demographic groups, and represent growth opportunities for the category.
This report builds on the analysis presented in Mintel’s Anti-aging Skincare – US, February 2013, as well as the February 2012, February 2011, February 2010, and February 2009 reports of the same title.
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