Targeting Generation X! High-income American families spent nearly $9 billion on beauty products in the first half of the year!

According to data from NPD Group, high-income consumers in the United States with an annual household income of more than $100,000 spent nearly $9 billion on beauty products in the first half of 2022, a year-on-year increase of 14%. This is mainly driven by the expansion of the buyer group and the purchase trends led by Generation X and Millennials.

According to NPD Checkout Omnichannel Tracking, high-income households in the United States account for more than 40% of beauty sales, and their demand for cosmetics and skin care products is also higher than the average level.

In the United States, 74% of women use facial skin care products and 67% use cosmetics. Women from high-income families have a significantly higher usage rate in each category than the above average index, with usage rates exceeding 80%.

“At this critical juncture when retail recovery is balancing forces with growing economic pressures, beauty brands and retailers must understand which consumers are most willing to spend money,” said Carolyn Miller, beauty industry advisor at The NPD Group.

Based on findings from NPD Group’s “Facial Skincare Consumer Report,” Gen Xers are the skincare market’s untapped opportunity. While facial skincare use has declined among other generations, Gen Xers are the only group to have maintained consistent usage compared to last year. They use nearly as many products as Millennials, and they are also more likely than any other generation to purchase beauty products with a higher price tag.

It is learned that according to the NPD Group's "Makeup Attitudes and Usage Report", in the cosmetics market, women in high-income households have seen the largest increase in usage, up 8 percentage points since last year.

Editor ✎Estella/

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