L’Oréal Travel Retail says that make-up will continue to be the fastest growing segment in the beauty category in duty free and travel retail in next half decade due to demand from a selfie-obsessed Millennials generation, and from emerging markets.
Speaking at the TFWA Cannes show in October, Stefania Fabiano, LTR Consumer Product Division General Manager, said the make-up category was a bright star in the beauty firmament.
“Make-up will remain the fastest growing category in travel retail in the coming five years and acceleration in this category will come from new consumers.” — Stefania Fabiano
With the ‘selfie generation’ of Millennials now a big part of the DF & TR passenger profile, the idea of looking good in front of camera at all times also gives make-up a huge leg up.
Fabiano says that this generation also loves to experiment and try new products, which makes make-up their ideal category. “They are also ultra-connected and they love tutorials so they are becoming more expert as make-up users,” she added.
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The plus side for beauty players with make-up portfolios is that penetration of this segment in Asia, and China especially, is still underdeveloped compared to other regions – but it is growing fast.
“Face products are still leading the market but the huge phenomenon across Asia is lipsticks,” said Fabiano who pointed out that, for the emerging middle classes, lipsticks also represent an accessible sub-segment of make-up.
From a retailer perspective, L’Oréal believes that colour is key. “Colour drives shop penetration, creates impact and is playful. It is also often an impulse buy,” Fabiano said.
(Source: TR Business)