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Kantar Worldpanel recently released compiled data from its consumer panel, one of the largest continuous consumer panels in the U.S., to analyze trends for the 50+ beauty and personal care consumer market.
For the question "What are 50+ consumers looking for in their personal care regimes?" Kantar Worldpanel reported finding consumers aged 50+ are more brand loyal and less willing to try new products. Sixty-five percent claimed they buy the same personal care brands on each trip. Additionally, these consumers are less influenced by price, and the majority claim quality is the most important factor.
Beauty brands targeting this consumer group should talk more about the quality of their products and focus less on price promotions.
Kantar Worldpanel also looked into the benefits 50+ consumers are looking for in their skin care products, because, as women get older, they become more involved in skin care and use products for a wider range of reasons than younger consumers. The biggest skin issues for 50+ consumers are fine lines and wrinkles, sagging skin/loss or firmness and dry skin. Thirty-nine percent of females aged 50+ also cited unwanted facial hair as an issue.
Skin care brands need to recognize the multitude of benefits that these consumers are looking for and target treating (rather than preventing) the conditions that they already have. According to Kantar, skin care brands that have successfully targeted this segment are Olay and Avon.
Also, females aged 50+ have the most personal care occasions—68 in the average week, according to Kantar. This compares to 57 occasions reported for females aged 13-24 years old.
Other findings include that baby boomers are more likely to use traditional beauty and personal care products such as bar soap and tape dental floss. Females in this age group are more likely to use hairspray, but less likely to use any other hair styling aids. They also are more likely to complain of “fine” hair with “lack of volume.” And while females 50+ are less likely to shave weekly than their younger counterparts, 50+ men are more likely to shave, particularly with an electric razor. They are more habitual in their routines, shaving more frequently than younger men.
The findings also noted 49% of women and 27% of men claim they “do whatever they can to look young.” Although half of the female population are engaged with looking young, only 21% use anti-aging cream or serum. This leaves a significant opportunity to increase female product usage for the category. Men are far less involved in using anti-aging skin products than women, with less than 3% penetration. And although usage of facial moisturizer is growing amongst men, they are still more likely to use a body moisturizer—including for their face.
And looking young is not just a concern for women aged 50+. Forth-six percent of those 25-34 years of age said they will do whatever they can to look young, which makes them just as likely as women aged 65+ to make this claim. However, they are three times less likely to use an anti-aging skin product.