Look at the ads and you’d think beauty was a young woman’s (and man’s) business. But you’d be very wrong, finds Kantar Worldpanel
THERE is more to selling toiletries and cosmetics to older customers than making sure they can read the label with their bifocals and use their toothpaste to clean their dentures.
According to Kantar research, appealing to the grey panthers could be the key to adding value to a relatively static segment of the market.
“Female shoppers aged 50 and over are a dominant group within health and beauty, accounting for two in five shoppers and making up almost half of all spend,” the Kantar report, Making A Pretty Penny, stated.
“On average, they part with £192 per year compared with £131 for those under 50.
“This spend will continue to grow as the over 50s are predicted to grow by 38% between 2015 and 2035.”
Middle-aged consumers tend to be more financially secure than their children, with half owning their home outright, the researcher said.
Women over 50 have more complex beauty regimes than their younger sisters, typically using an average of six products a week.
The report finds that over-50s, more than others, favour brands which demonstrate quality and target a specific requirement.
“To succeed,” the Kantar researchers said, “products should reinforce their high-quality credentials through packaging, messaging and promotion.
“Toothpaste, for example, must include gum protection properties and should highlight compatibility with dentures. Skincare products should deliver firming capabilities, even if the product is a moisturiser.
“While this group is demanding, success can pay long-term dividends: over 50s are more brand loyal than any other age group. Half of them always buy the same brand for their skincare needs.”
They also buy for the men in their lives. The report states that men are using more skincare products than they used to, encouraged by campaigns by Nivea Men and Dove Men+Care.
Yet Kantar found that just 51% of men’s shaving soaps and 57% of moisturisers are bought by males.