Published on : Apr 02, 2018
Albany, New York, April 2, 2018: Market research Hub (MRH) has recently introduced a newly published market research report to its repository. The report, titled “The iGen Beauty Consumer-Us-March 2018” thoroughly examines iGeneration consumers of the US beauty industry and offers valuable insights on the market scenario, historic, current, and prospective.
The assessment involves several aspects related to the US beauty market and how consumers from iGeneration are driving the growth of market over the years. The key products in this market primarily include products for facial and hair care, fragrances, skin care products and devices, color cosmetics, hair care appliances, and nail care products and polishes. The iGeneration comprises four key segments, i.e. tweens, younger teens, older teens, and adults. The range of age is diverse and thus is expected to hold variable impact on the performance of the beauty market in the US. While some of the iGen consumers are dependent on parents for spending on leisure such as beauty products, others are observed to be entirely independent with decent spending power.
Irrespective of the age, consumers from iGeneration seem to spend more time and money on BPC (beauty and personal care) products, as they are relatively more engaged in maintaining a sophisticated and groomed look and are highly conscious about their social appearance. This, according to the report, will continue to play a crucial role in strengthening the sales of beauty products across the US among iGen consumers. Moreover, this tendency of iGen consumers compels leading brands to target and perceive them as their key demographic, in order to ultimately generate revenues through the BPC industry.
Industry experts state that millennial female consumers tend to spend more time in their regular beauty regime that involves a broad variety of beauty and personal care products. They also seem to be open to experimentation and follow updated fashion trends in the industry. With advent of technology, widespread adoption of the Internet, and proliferating popularity of online shopping, consumers are more likely to go for interactive shopping experiences and simple video tutorials when it comes to buying beauty products. DIY experimental tutorials have also gained immense popularity within no time, which will further support sales of beauty products among iGen consumers in the US.
Some of the other important factors that are foreseen to influence the market performance include frequent offers on beauty products purchasing, free samples, and product innovation. In-store and online products display, overall pricing, and reviews are also expected to hold a strong influence on the market conditions. Strong presence of counterfeit products has been a longstanding concern and will remain a challenge to growth of the beauty products market in the US over the next few years.
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