This month’s letter from the editor will also be my last. I’m delighted to announce that Global Cosmetic Industry has welcomed a new associate managing editor, Jennifer Posternack, to the team. While I’m not going away entirely, Jeni will be taking the lead on shaping content and engagement for our monthly magazines, daily newsletters, multimedia, social feeds, and more.
Global Cosmetic Industry has welcomed a new associate managing editor, Jennifer Posternack, to the team.Jeni Posternack
Jeni will have her hands full this year. A look at recent data from Circana and Euromonitor has revealed a bifurcation of the global mass and prestige sector, though there are nuances in the numbers.
For instance, value-seeking Gen Z shoppers are leading a boom in dupes, from makeup to skin care to fragrance and beyond, per Mintel. And, according to NIQ, dollar store beauty sales have increased 6% year-over-year, faster than general mass and drug channels.
Then there are the near-term dynamics, including a boom in lip and blush products, a rise in masstige skin care, hair wellness and defense, and seemingly unstoppable fragrance sector growth.
At the same time, there are longer-term trends reshaping beauty industry innovation, including a focus on longevity, as seen in the spike of NAD+ claims in the sector; the rise of Gen Alpha as a growth driver; a leveling up of body skin care to face-grade status; an overarching appetite for little luxuries and value-seeking; a medicalization movement pairing pro-style claims and functions with consumer products; a desire for simplicity and efficacy; and much, much more.
This is just scratching the surface. Jeni and Global Cosmetic Industry will be tackling these and many other stories in the year to come. We look forward to having you along for the journey.
