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How brands and retailers can reach Generation Z and young Millennials on the path to purchase

How brands and retailers can reach Generation Z and young Millennials on the path to purchase
How brands and retailers can reach Generation Z and young Millennials on the path to purchase

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Beauty in Great Britain

Beauty in Great BritainBeauty in Great Britain

Beauty in Great Britain

Dublin, July 9, 2024 (GLOBE NEWSWIRE) — The report “UK Beauty 2024: How brands and retailers can reach Gen Z and young Millennials on the path to purchase” has been added to The Offer.

Generation Z and young Millennials are most likely to spend money on cosmetics in 2024 – but the path to purchase is anything but straightforward.

Beauty is the UK e-commerce leader, but sales growth is slowing as consumers continue to cut back on non-essential spending. Committed to their beauty routine, Generation Z and young Millennials are likely to be the most likely to spend freely in 2024. But their path to purchase is far from straightforward – and capturing their attention requires a truly multi-channel approach.

Key question: How does the beauty product purchasing process for Generation Z and young Millennials differ from that of older generations?

Important statistics: Over a third (35.5%) of 18-34 year old beauty shoppers in the UK have searched for beauty products via social media in the last 12 months – more than double the average across all age groups.

Here is the full report

  • 3 Exportable files for easy reading, analysis and sharing.

  • 10 charts: Reliable data in simple representations for presentations and quick decisions.

Main topics covered:

  • Summary

  • While the “lipstick effect” is fading, younger generations are still spending money on beauty

  • The path to purchase is complex for digital native generations

  • What should beauty brands targeting Generation Z and Millennials do next?

  • Sources

  • Media Gallery

Diagrams

  • Social media is an important channel for beauty brands that target 18- to 34-year-olds

  • Health, personal care and beauty is the fastest growing e-commerce category in the UK (million health, personal care and beauty retail sales in the UK, percent change and percentage of retail sales in the category, 2021-2027)

  • Beauty is among the top 10 categories in which adults in the UK plan to reduce their spending in 2024

  • The spending intention of Generation Z adults is growing 6 times faster than the average adult

  • Generation Z and Millennials value value but are willing to pay more for sustainable and ethical beauty products

  • Beauty shoppers ages 18 to 34 are more likely to discover products on social media than in-store

  • Videos and social media play a greater role in research/evaluation among 18- to 34-year-olds

  • 18- to 34-year-olds use AR/VR technology more regularly than older generations

  • The fear of missing out is a greater motivation for 18- to 34-year-olds than for beauty buyers overall

  • Convenience and cost are important for 18- to 34-year-olds when purchasing cosmetic products online

For more information about this report visit https://www.researchandmarkets.com/r/31rlsw

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