While hair care products are a staple in nearly every woman’s beauty cabinet, the market is far from saturated. At Women’s Marketing, we see slow but steady rates of growth that are expected to continue throughout the decade. As brands cope with changes in the hair care market and try to create loyal customers in a complex market, what trends are emerging for them to hone in on in order to stay ahead of the curve? In a two-part series, Women's Marketing CEO Andrea Van Dam and her strategy team break down four hair care market trends they see as significant in helping brands better segment their consumers based on their new needs.
“Don’t count the Baby Boomers out yet,” says Van Dam. According to the AARP, this demo controls half of U.S. expenditures, helps subsidize the younger generation, and hasn’t suddenly given up worrying about how their hair looks, just because it’s gray. In fact, many older consumers are delaying retirement, thus finding a need to remain competitive in the workforce and in their looks. According to an April 2014 Mintel report on Shampoo, Conditioner, and Hairstyling Products, roughly 48% of women aged 55+ notice that their hair changes as they get older, and 28% think they need different haircare products as they age. Adds Van Dam, “Anti-aging products aren’t just for older consumers. We find many Millennials are taking an active approach to staying young.” Mintel shows that 40% of this youthful group is already using anti-aging products of all sorts.
“Effects of the economic recession linger,” says Van Dam,” and many consumers are still wary about what products they invest in and what benefits they advertise.” When purchasing haircare products, key terms that women look for include “protection,” “durability,” and “supplement.” Mintel data also suggests that 39% of consumers in the hair care market express interest in oral supplements to help improve the appearance of hair and 26% express interest in laser treatments to stimulate hair growth. If they’re going to invest in specialized haircare products, they are choosing items that promise long-term durability and preventative treatment.
Using media tactics to create personal experiences will extend marketers’ abilities to deliver the most relevant messaging possible at the right time, in the right place. In doing so, brands can better reach and impact that consumer who matters most.