Are beauty brands doing enough for the 50+ market?

26-Nov-2015

Kanebo, Avon, Bluemarlin and Arbonne share their views with Cosmetics Business

Helen Mirren is a 69-year-old woman, oscar-winning actress and, as of earlier this year, a spokesperson for L’Oréal. Not only does Mirren not look her age, but she also does not act it.

But according to a recent report from Racanteur, The Beauty Economy, Mirren is much more typical of older beauty consumers than you might think.

Rachel Clare, Associate at Brand Genetics said: “Not one respondent in our survey talked about the desire to get rid of wrinkles or achieve younger looking skin. In fact 63% of women accepted that wrinkles are part of getting older: only 15% wanted to look younger.”

A recent Euromonitor survey also revealed that 55% of consumers aged over 60 use moisturisers without any anti-ageing claims. Facial moisturisers, body moisturisers and facial cleansers were all more popular than anti-ageing products.

According to Kantar, the average woman spends £43,446 on beauty products between the ages of 50 and 70, cosmetics brands will want to understand this consumer better. Escentual also reports that consumers aged 55-64 spend £2,190 on beauty products every year, and those aged 45-54 spend £2,238. That’s much more than those afed 19-24 (£1,759) and even more than those aged 25-34 (£2,045).

So there’s no doubt that this is a lucrative market. But are beauty brands making the most of the sector? We’ve asked the experts…

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