Confessions of a CEO: ‘The rise of fast beauty’s hyperconsumerism is driven by investors, not consumers’

10 months ago 17

Does the beauty marketplace need another lip balm? How about one more hyaluronic acid serum?

As the beauty industry continues to grow, and product lead times get shorter through more sophisticated manufacturing, brand leaders are faced with a difficult question: How many products should a brand launch each year?

According to market research firm Circana, U.S. prestige beauty sales grew by 14% year-over-year in 2023 while the mass beauty market saw a 6% increase in sales last year. The global beauty and personal care industry is projected to generate revenue of $646.2 billion in 2024, which is up almost a billion dollars from 2018’s $550.38 billion, according to market research firm Statista.

Continue reading this article on glossy.co. Sign up for Glossy newsletters to get the latest on the business of beauty, fashion and pop culture.

Article From: www.glossy.co

Read Entire Article

Note:

We invite you to explore our website, engage with our content, and become part of our community. Thank you for trusting us as your go-to destination for news that matters.

Certain articles, images, or other media on this website may be sourced from external contributors, agencies, or organizations. In such cases, we make every effort to provide proper attribution, acknowledging the original source of the content.

If you believe that your copyrighted work has been used on our site in a way that constitutes copyright infringement, please contact us promptly. We are committed to addressing and rectifying any such instances

To remove this article:
Removal Request