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An Eye to Opportunities in 2014
Posted: February 13, 2014
In “Change Is Coming,” a blog post by http://www.npd.com The NPD Group’s vice president and global beauty industry analyst Karen Grant, the opportunities for the beauty industry in 2014 are analyzed.
Grant writes, “Change is often difficult to accept, until we associate it with opportunity. 2014’s opportunities lie in the opposites, the flawless, and the ‘now.’
“What doesn’t change in the beauty industry are the positive results in the prestige market. With the 5% gains in dollars across U.S. prestige beauty, and skin care and makeup outpacing at 7% growth, the anticipation is that 2014 will be another good year for the industry, though not as robust as the trends of 2011 and 2012. The prowess of skin care and makeup will continue to be evident, though makeup has now begun to assert its lead. Fragrance, which had its peaks and valleys in 2013, is expected to remain steady, albeit with some challenges. And, premium-priced beauty, the leader of growth across categories for several years, will continue to outpace the overall market, from the opening premium prices all the way up to the super-premium price ranges.
“While beauty will remain positive, how we achieve those results lie in the opportunities of change. We want results, and we want them ‘now!' Immediacy is the word for skin care in 2014&mdash'immediate appearance results in texture, tone and complexion will share the stage previously dominated by anti-aging serums. Smaller segments in facial care as well as higher specialization in hair care, body and sun will emerge from the shadows.
“This year, [the] industry and consumers alike will ‘enhance and define.’ The bright spots in makeup will be eye definition products for brows and lashes, as well as radiant primers and color correctors that allow less foundation usage while still providing a flawless appearance. Lips and eye liner will become the new playground for color, pushing nails aside for bold colors ranging from brights to neons to blues.
“Opposites continue to take center stage in fragrance. Sizes at both ends of the spectrum, colognes and eau de parfums appeal atypically to genders, and classic iconic brands share the spotlight with exclusives and artisanal brands.
“The change we expect will be rich with opportunities and, of course, the requisite challenges. Lines are blurring at retail, in experiences, and among brands as the beauty industry continues to evolve. But, while elements of our world will be changing, beauty, our foundation, is still solid. We will find our success by accepting the challenges of change and taking it to the next level, inspiring our consumers, and awakening their senses,” Grant concludes.