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STOREDITS SKIN CARE, MAKE-UP and COSMETICS STOREDITS SKIN CARE, MAKE-UP and COSMETICS A research report by the Shop! Global Network Sponsored by Platinum sponsor Prepared by Gold sponsors STOREDITS SKIN CARE, MAKE-UP and COSMETICS Storedits Letter from Todd Our goal at Shop! Environments We hope you find this comprehensive Association is to provide retailers and report helpful as you collaborate and brands with fresh ideas to meet their build alliances with retailers in this customers’ untapped needs by using competitive market. Shop! member products and services. “Collaboration & Alliances” is one of If you have questions about this or six vital retail trends we’ve identified other Shop! research reports, feel as necessary to thrive in today’s free to reach out to me (tdittman@ challenging retail environment. shopassociation.org) or Madeline Baumgartner, Director of Education This research project underscores & Research, at mbaumgartner@ how strong alliances among our Shop! shopassociation.org. Global Network members can result in A special thank you to the creation of an essential tool for the Thank you! our sponsors WestRock, industry at large. Storedits (stor-ditz) Duraco and Hera Lighting is an analytical qualitative survey of for their ongoing support retail space conducted by the Shop! of the Storedits program. Global Network. For several years, this We also thank the staff study has been identifying how POP Todd Dittman, at POPAI UK & Ireland displays are being deployed in different Executive Director Shop! for managing the project, categories and retail channels across providing analysis and the world. This year, it was expanded writing the report, as well throughout North America and covers as other members of the the explosive market of skin care and make-up/cosmetics. Shop! Global Network who conducted the field work. The total global cosmetic products Without their contributions, market, which includes hair care, oral this project would not have and fragrances, was valued at USD For more information about this topic, been possible. 532.4 billion in 2017. This burgeoning please visit Shop! market is expected to reach a market Website: shopassociation.org value of USD 805.6 billion by 2023. Email: [email protected] The study results reveal contributions or call Madeline Baumgartner, from global Shop! members to Shop! Director of Education & the growth of this market through Research on 312-863-2917. innovative displays and marketing. 2 | STOREDITS | www.shopassociation.org STOREDITS SKIN CARE, MAKE-UP and COSMETICS Contents Introduction 4 Executive Summary 5 The Global Cosmetics and Skin Care Market 6 Industry Trends 9 Display Trends 11 Market Data 13 In-store Research 17 Display Types and Distribution 18 Display Characteristics 23 Conclusion 30 Recommendations 31 Sources 31 Glossary of Terms 32 3 | STOREDITS | www.shopassociation.org STOREDITS SKIN CARE, MAKE-UP and COSMETICS Introduction The cosmetics and skin care market is one in which physical stores play a huge part. When buying these products, we like to see, touch, smell and test – something which we cannot do online. Despite global economic uncertainty, this category is consistently resilient, with a continuing focus on our looks combining with new and emerging trends to keep the market buoyant. Increased disposable income in traditionally poorer countries, an aging population, the growing trend for men’s grooming products and increased innovation offering new ways to try and buy, all mean that brands and retailers can find ever more audiences to reach. Although dominated by the big top ten players, new entrants are constantly seeking to join this highly competitive market, particularly those with a focus on anti-aging products. In-store promotional materials have a clear task and focus. Attracting shoppers to the product NEW Introducing new products Our research Increasing product and category Storedits (stor-ditz) is an analytical The research set out to identify the following sales qualitative survey of retail space conducted aspects of POP display use in different by the Shop! Global Network. It has been retail environments. used for several years to identify how Creating impulse purchase and • Location in-store of POP display POP display is being employed in different cross-sell opportunities categories and retail channels across the • Type of POP used world. It is not, however, a full audit of this • Use of digital screens space and display materials therein; rather, it Enhancing co-branding • Types of messaging and information targets specific areas to identify trends and being communicated understand how displays and promotional Offering shoppers a more engaging messaging are being used by brands and • Color brand experience retailers to appeal to and influence the • Single or multiple brand use shopper in-store. POPAI UK & Ireland also undertook desktop Our research explored the current and This research into the cosmetics and skin research and consulted industry experts changing global trends, seeking to care industry follows last year’s consumer to understand the current position of the understand the role of POP across the electronics report, but has been expanded global cosmetics and skin care market and world and to discover, when it comes to to cover 13 countries in Asia, Europe and to investigate existing and predicted trends cosmetics and skin care: what does good North America. that may impact these categories. really look like? 4 | STOREDITS | www.shopassociation.org STOREDITS SKIN CARE, MAKE-UP and COSMETICS Executive Summary Physical stores are a key aspect of the global cosmetics and skin care categories, with shopper demand for ‘try before you buy’ placing them ahead of online retailers. Global sales in both categories are forecast to grow, with this growth driven by a number of positive consumer trends as well as the population growth in emerging markets. Our research explored the current and changing global trends, seeking to understand the role of POP across the world. We covered 13 countries across Europe, Asia and North America. The sector has been traditionally resilient, proving less susceptible to economic downturns than other fast-moving consumer goods categories. A continuing influx of new entrants to the market is keeping it buoyant and fresh, introducing new and innovative products. However, the market remains dominated by the top ten leading companies. While communicating product information is ever more important for new and innovative products, pressure remains for displays to hold as much stock as possible. This often results in challenging design decisions to determine how best to use space on display equipment. The use, type and placement of cosmetics and skin care displays was fairly consistent across all the countries surveyed, generally with just two or three exceptions in each case. Cosmetics and skin care POP displays were widely used across all the retail channels surveyed, with a varied range of display types seen. POP display plays a vital role in helping shoppers navigate the numerous and varied products across categories. While a large amount of display equipment was seen in most retailers, the vast majority of it was Tester facilities play a key role in displays, along displays, often at the expense of clear and concentrated in the main cosmetics and with lighting, which has a dual role of attracting bold branding. skin care trading areas, with relatively few shoppers to displays and displays seen elsewhere in stores. highlighting products. Digital technology has not yet been widely adopted. While it has the potential to address Permanent display equipment was by far the Retailers continue to influence the size, design some of the product information issues, the most prevalent, proving three times more and placement of cosmetics and skin care technical challenges of centrally controlling popular than temporary display. content is restricting its use. 5 | STOREDITS | www.shopassociation.org STOREDITS SKIN CARE, MAKE-UP and COSMETICS The Global Breakdown of the cosmetic market worldwide 2011-2017, by geographic zone Cosmetics and Asia-Pacific North America Western Europe Latin America Eastern Europe Africa & Middle East Skin Care Market 100 80 60 Skin care, make-up, hair care, fragrances, sun care... it seems that looking good 40 and protecting our skin is something of an Market share (%) international inclination. 20 This is reflected in the figures. The global cosmetic products market looks set to 0 2011 2012 2013 2014 2015 2016 2017 continue to thrive – valued at $532.4bn in 2017, Geographic region it is expected to reach $805.6bn by 2023. Source: Statista – Cosmetics Industry Worldwide – 2016 A predicted 51% Annual global growth across the whole increase for the global category since 2004 has varied, from a cosmetics and skin low of 1% in 2009 to a high of 5% in 2007. $805.6bn Growth for 2017 is estimated at 5%, with a $532.4bn care market by 2023 2017 2018 2019 2020 2021 2022 2023 4% average for the whole period. The Asia-Pacific region holds the highest Worldwide economic events have traditionally market share, having gradually reinforced affected categories within the wider cosmetics that position since 2011, as shown in the and beauty market, with periods of sales graph above. growth and decline at country levels. Skin care is the global top priority, taking However, skin care, color cosmetics, eye the highest market share within all beauty make-up, lipstick and foundation have been categories, followed by hair care and color resilient, buoyed by the continuing and growing cosmetics. The graph below details the use of products by women and, increasingly, relative shares of the global beauty market by men across the world. by category. Global beauty market value by category 2016 Sales value in US$ billion Skin care 116.5 Hair care 72.5 Color cosmetics 61.5 Men’s grooming 48.5 Fragrances 47 Oral care 42.5 Bath & shower 39 Deodorants 20.5 Source:Baby &Statista child – Cosmetics16 Industry Worldwide – 2016 6 | STOREDITS | www.shopassociation.org STOREDITS SKIN CARE, MAKE-UP and COSMETICS This hierarchy looks set to continue.
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