2018 Beauty and Skincare Benchmark Report - WhatCounts.pdf...

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2018Beauty & SkincareBenchmark Report
2|WhatCounts.comBeauty and Skincare MarketersWho Are Winning in the IndustryAre Creating Personalized Experiences forTheir CustomersThe global cosmetics market was valued at $532.43 billion in 2017 and isexpectedto reach a market value of $805.61 billion by 2023,with a compound annualgrowth rate (CAGR) of 7.14% from 2018-20231. In the United States, the prestigebeauty industry reached $17.7 billion in 2017, a 6% increase from 2016. Sales grew9% in the skincare industry and contributed 45% of the industry’s total gains.Makeup followed with a 6% increase and fragrance closed the year up 4%2.The beauty and skincare industry has always been slightly impervious todownward trends in the market that impact many of the other retail industries.After all, people rely on these retailers to keep them looking their best. With theadvent of social media influencers, beauty vloggers, and the likes, the beautyindustry continues to grow at an impressive clip. Add to that the growingcategory of men’s care which is showing sustained growth in the UnitedStates, France, and China3, and you’ve got a relatively stable industry.1. 2. -2017-reports-the-npd-group/3.
3|WhatCounts.comHowever, the biggest industry shake-ups are coming from brands such as Sephora and ULTA stepping into a market thatused to be dominated by big box department stores.While some department stores are working to build partnerships to boost sales and revenue, such as JCPenney andSephora,others aren’t adapting to the change as quickly and risk being left behind.More and more beauty stores areembracing technology and making it even easier to purchase beauty and skincare products online rather than going intothe store. In fact, orders via smartphone increased to 1.53 billion in 2017 and are expected to continue to grow,with skincare, hair care, and fragarances as the most sold products online4.4. US81.1%UK5.4%AU5.4%EU8.1%This Report Looks at Data forWorldwide Beauty and SkincareBrands That Are WhatCounts Clients.
4|WhatCounts.comThis Benchmark Report Looks at 6 Key Metrics1. Retention Rate2. Average Number of Purchases3. Percent Increase in Average Order Value (AOV) by Number of Purchases4

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Term
Fall
Professor
herry
Tags
Marketing, Beauty Skincare

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