Download the 2024 RetailX Global Beauty Sector Report which examines the digital developments and trends in the cosmetics and beauty industry, how products are being sold online and the impacts of other technologies on ecommerce.
The report shows an industry driven by newness, and consumers passionate about their purchases and loyal to certain brands while also being enthusiastic about beauty overall as they seek out the latest products and ‘must-haves’.
Product launches trend on social media while the large corporations look to invest in the latest niche brand or technological enabler. Everyone is willing to experiment, whether that is consumers with the latest looks or brands, or retailers offering new ways for their customers to interact, be entertained or buy on an increasing number of channels. 2024 is an exciting time to be in this business.
Inside the Report
The report goes in-depth into the market using RetailX analysis and interviews with major retailers to outline the state of the beauty and cosmetics industry:
Market context – “Economic and inflationary matters have impacted on the cosmetics and beauty industry in the last year, affecting prices of raw materials through to energy and shipping. Consumer spending across multiple retail categories has been deflated as a result of rising prices.”
A Regional Breakdown – “More than $70bn is spent online on beauty and personal care products in Asia making it the largest market for the sector globally. It is twice the size of the market in the Americas which saw $34bn spent online in 2023.”
Consumer Analysis – “The majority of beauty and personal care products are bought in bricks-and-mortar stores although the amount bought online is gradually increasing. In 2023, online accounted for 17% of the market, an increase from 12% in 2019.”
In-depth with Sephora – Alexandre Meerson, Chief Digital, Data and Technology Officer, EMEA, Sephora, spoke to RetailX about Sephora’s approach to omnichannel and personalisation
Social Platforms as Marketplaces – “Among US consumers, GenZ consumers are likely to start looking for a product to buy on social media. 43% of GenZ shoppers in the US start product searches on TikTok.”
In-depth with Avon – Natalie Deacon, Director Corporate Affairs and Sustainability, Avon International, spoke to RetailX about the company’s focus on social and environment
Company Profiles
To further illustrate the findings of the report we include 8 company profiles, each profile includes web traffic, share price over time, company revenue and company profit. As well as an in-depth case study highlighting consumer behaviour:
- Allies of Skin
- Charlotte Tilbury
- Douglas
- Estée Lauder
- Glow Recipe
- Haus Labs
- Milk Makeup
- Rare Beauty
