What is the psychographic and behavioral profile of U.S. anti-aging products consumers?
According to a 2017 report, the anti-aging industry is expected to reach a worth of close to $11 billion by 2018. Of women over 60 years old, one third stated that they had used anti-aging products, with millennials being drawn to skin care products that address dryness, skin tone and dark eye circles.
Sixty-eight percent of baby boomers regularly use anti-aging products daily and 20% use them on a weekly basis, while 57% of millennials use anti-aging products daily and 20% use them weekly.
Natural skin care products have also begun to take a prominent place in the anti-aging skin care market. Consumers are interested in products made from natural ingredients that are gentle on the skin, and are especially interested in products that protect skin from the effects of pollution; with one in seven women surveyed stating that they felt that pollution had a negative effect on their skin.
While only 38% of baby boomers expressed an interest in anti-aging products, 60% were likely to purchase products with moisturizing properties designed for dry skin, according to a 2017 women’s market blog survey.
It was noted that the majority of baby boomers have a set beauty regime that includes the use of favorite products, with 50% stating that they typically only purchase products when they need to replenish their supply and only 5% stating that they would buy something that was unplanned. This makes the offering of trial samples of new products as well discounts on new products a key factor in encouraging baby boomers to stray from their regime. Ultimately, 60% stated that personal experience with a product influences what they are willing to purchase.
According to a 2015 survey, baby boomers show a higher level of health consciousness when considering skin care products than millennials, with a third of them stating that they consider their health when choosing skin care products. Over all, baby boomers are much happier about decisionsty they make about their skin care regimes. They have a positive attitude about skin care choices, and tend to have more patience when trying new products.
Unlike millennials, baby boomers don’t turn to social media outlets such as FaceBook or Twitter for information about skin care and anti-aging products, not trusting the information found there as being reliable. Instead, baby boomers rely upon product information found on retail websites as well as the recommendations of friends and family when choosing to try a new product. They typically don’t do a large amount of research, but they do make decisions quickly based on the information they’ve reviewed about new products.
We couldn't find any study or survey on baby boomers skin care consumers hobbies and aspirations. However, in general, baby boomers have hobbies such as golfing, fishing, and collections (stamp, trains, figurines, antiques, dolls, etc), cooking, and wine collections. According to a Nielsen survey, 60% of baby boomers said being fit was one of their top 3 aspirations, followed by 44% that said family time, 21% that said making money, and then 11% that said a fulfilling career was among their top 3 aspirations. Baby Boomers favorite brands include Amazon, Levi Strauss & Company, Toyota, Coca-Cola, and Samsung.
According to a 2017 report, while millennials are concerned about the effects of aging on their skin, they are not as likely to buy an anti-aging product. Instead, millennials are more focused on the prevention of aging skin rather than the treatment of it.
Millennials are the largest consumer group for skin care products including serums and moisturizers, and by the time they reach the age of 35, one in three will regularly us them.
While the sale of moisturizers has risen by 4.4%, millennial women have found fault with a lot of the products available on the market today, stating that they fail to deliver the results promised.
Instead, natural brands seem to appeal to millennials, with 57% stating that they were confused by the complex ingredients used in modern skin care products, and 81% stating a desire to keep their skin care regime simple. Millennials are seeking products with clean, natural ingredients that will improve the health and appearance of their skin over a long period of time.
Millennials are much more likely to rely on digital sources when considering a new skin care product. As true digital natives, millennials rely on social media as well as product websites for information when considering a new skin care product. Millennials also rely on recommendations from family and friends when making their skin care and moisturizer choices.
Millennials display a more negative attitude than their baby boomer counter parts when it comes to the decisions that they make involving their skin care product choices. This may be due to a lack of patience when researching a new product, ultimately leading to poorly selected products that don’t meet their needs, or it could be due to an overload of information resulting from their tendency to rely on online information to aid them in their choices.
Although we were unable to find information on the aspirations and hobbies of millennial skin care consumers, we found information on millennials' hobbies and aspirations in general. According to a survey by Nielsen, 39% of millennials selected being fit and healthy as their top 3 aspirations, 36% selected making money, 29% selected family time, and 28% selected a fulfilling career as one of their top 3 aspirations. Millenials hobbies include sports, reading, social media, music, food, and video games. Also, millenials favourite brands include Apple, Nike, Samsung, Target, Amazon, Sony, Wal-Mart, Microsoft, Coca-Cola, and Google.
While taking decidedly different approaches to the choice and use of skin care and anti-aging products, baby boomers (age 51-69) and millennials (age 18-35) are the most prominent age groups of note in the skin care industry, with 68% of baby boomers and 57% of millennials using skin care and anti-aging products regularly.