Table of contents:
Older Demographic Drives Beauty Product Sales Despite Economic Challenges
High Frequency of Beauty Treatments Among the 55+ Age Group
Baby Boomers Increase Beauty Product Usage Amid Changing Youth Trends
55+ Demographic's Strong Participation in Beauty Categories Continues to Grow
At a time when Europe is grappling with rising inflation and the cost of living rising at the fastest pace in years, the beauty market presents an interesting polarization. The 55+ age group has become key to the European beauty industry.
In markets such as the UK, France, Spain and Portugal, this demographic accounts for nearly half of all beauty product sales. Their usage levels increased by 2% compared to 2019, although product usage among the female population fell by 7%. This is particularly noteworthy given the economic climate; with inflation remaining high across the region, this older group's willingness to spend on beauty products represents a form of resilience.
People over the age of 55 engage in beauty treatments 47 times a week, 8 times more than the average woman. On a population basis, there are a staggering 80.6 billion beauty opportunities per week in the European market we measured. This frequency becomes even more significant when you consider that many people in this age group are on or about to receive fixed pensions, which are not growing at the same rate as the cost of living.
Since 2021, usage among women who are part of the Baby Boomer generation — and we recognize there are regional differences in how the Boomer age group is interpreted — has steadily increased in use occasions. In contrast, young people have simplified their daily lives. In the transition to working from home and a more relaxed social environment, young people's behavior of "making an effort" in their appearance has taken a backseat. Shaving less and wearing less makeup, for example, can have a cascading effect on related product categories—from facial cleanser to aftershave. However, this decline in usage offers new opportunities: a renewed focus on quality and versatile products, in keeping with today’s minimalist ethos.
It’s clear that the 55+ demographic has higher participation in every beauty category compared to younger women. They've shown a particular affinity for skin care products, with sales rising in Spain, France and the UK despite inflation driving prices across the board. A natural next question is whether younger people's lower engagement increases with age.
