Which generation is spending the most on beauty products?
Understanding the shopping habits of beauty consumers helps maintain a healthy beauty business. In this article, we will be learning about who is spending the most among beauty shoppers.
Gen Z prefers shopping offline
One of the most important factors to grow a healthy business is knowing potential clients. The beauty industry has changed dramatically, resulting in the change in beauty spending statistics. Depending on the age group, the number of consumers who spend money on beauty products are different.
Gen Z-the biggest group of beauty shoppers
Gen Z refers to a group of people who were born from mid-1990s to early-2000s. According to the latest statistics, Gen Z is the generation that has the largest number of shopaholics who spend over 70% of their money on beauty products. Because of their beauty spending, Gen Z has become the key to future modern retail. Therefore, the beauty market should focus on the products this generation wants, and improve their shopping experience as they prefer shopping in-store.
Shopping attitude of Gen Z
We might think that young consumers of Gen Z is a majority of online shoppers compared to other generations such as Boomers, Gen X, and Gen Y. This is because they are living in a society that relies on social media and technology when it comes to shopping. Additionally, they have used the internet since a young age so it is convenient for them to shop online.
However, the truth is that 99% of Gen Z shoppers do their shopping offline. They will look online for beauty products review and feedback, use their social media to consume information, but they love shopping in stores with friends. They prefer shopping with experience and activities. With this shopping attitude, they have reinvigorated the retail industry. This is also why they are different to other generations.
With these beauty spending statistics, Gen Z shoppers are definitely the target customers for your beauty business and based on their shopping habits in order to have proper marketing strategies.
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