Americans are spending more than $60 billion on beauty annually. To survive as a meaningful competitor in this evolving beauty arena, drug stores must start to burnish their image.
Although the U.S. color cosmetics market has seen a 2% increase so far this year, growth is sluggish across individual segments, according to new research by Mintel. Consumer desire for simplified makeup routines have affected lip, facial and eye cosmetics — each of which has grown about two percentage points slower this year compared with last year.
With cleansers and moisturizers firing on all cylinders, retailers and brands are fine-tuning other segments to keep the momentum going.
By bringing skin care innovations to mass doors more quickly, chains have been able to keep their customer base from straying to specialty stores and, in some cases, lure them back.