Weekly Newsletter - 09.18.2024

Consumer Goods

Can the Beauty Industry Sustain Its Growth?

The global beauty industry grew 10% in 2023, driven mainly by price increases rather than volume gains. Future growth is expected to stabilize, with a focus on sustainable strategies. Key regions like Asia-Pacific and categories such as skincare and fragrance will continue to drive market expansion through 2028.

Beauty Industry

Dove Celebrates 60 Years of Beauty Bar with New Campaign

Dove celebrates 60 years of its Beauty Bar with the "Beauty Never Gets Old" campaign, promoting the normalization of aging. The campaign features real women over 60, challenging societal pressures to look young. Dove encourages public participation by sharing Beauty Bar memories on social media.

Business Retail

Cosmetics Sales Plunge in China, Impacting Global Brands

Global cosmetics makers face significant challenges in China as economic slowdown and consumer preference for domestic brands impact sales. Estee Lauder's market value has plummeted by three-quarters since early 2022, while Shiseido and L'Oréal also experience declines. This trend signals broader economic concerns for foreign brands.

Business & Retail

Renna Opens at Royalmount, Redefining Beauty Retail

Renna, a new beauty and self-care retailer, has opened at ROYALMOUNT in Montreal. The 36,000-square-foot store offers a holistic shopping experience with over 175 brands and five distinct self-care realms. Renna aims to set new industry standards with personalized services and an in-house medical aesthetic clinic.

Market Analysis

US Prestige Beauty Sales Rise 8% in H1 2024, Circana Reports

The U.S. prestige beauty market grew by 8% in H1 2024, reaching $15.3 billion. Fragrance sales led with a 12% increase, driven by both high-end and affordable products. Makeup and skincare also saw significant growth, while hair products excelled online. Younger consumers and premiumization are key drivers.