Beauty product’s pricing must be such that it appeals to the target audience.

This article highlights the trends driving the growth in the beauty industry which is currently valued at $532 billion (an estimation), as per a report by Edited. One trend is that of traditional retailers experimenting with beauty. The report found traditional retailers offering more beauty products. For example, Net-a-Porter inventory of beauty products went up 26% from 2018 to 2019.

The report found that brands can benefit from developing pricing that is appealing to millennials and Gen Z consumers. Currently, H&M’s beauty line has products priced from $2 (for wet wipes) to $45 (for a leather make up bag).

The research indicated the industry shift towards sustainability as a response to consumer demand for products free from toxins or harmful ingredients. The report added, “Sustainability is becoming increasingly important to transparency-minded customers who want to know where our products come from and how they are made”.

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[4 minute read]

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