Think the beauty industry knows what women want? Think again. The beauty industry has created a culture, norms, products and marketing that is actually out of sync with what real beauty aficionados (who’ve been there, done that) think matter. In our recent survey focused on the beauty and skin care habits and attitudes of women over the age of 40, we discovered that the beauty industry is really missing the mark when it comes to serving this customer base. And that could be costing big beauty big bucks. Nearly 60% of the women surveyed would gladly drop $100 or more on a single skin care product.
Here are 5 major mistakes the beauty industry is making:
1. Celebrity Endorsements
You can’t turn the pages of a fashion magazine or turn on the TV without seeing Julia Roberts or Monica Bellucci or Jennifer Aniston or Emma Stone in beauty ads. Beauty brands spend millions of dollars for each of these celebrity endorsements. And guess what? Women couldn’t care less. Only 2% of women surveyed would buy a product based on celebrity endorsements.
2. Not Leveraging Community Reviews
In fact, 86% of women trust online reviews.
3. The Wrinkle Myth
Every anti-aging skin care product out there claims it fights wrinkles and fine lines. Guess what? Older women are less concerned about wrinkles than they are about sagging skin.
4. Killing Confidence
The # 1 thing that makes a woman beautiful? Attitude. In fact, many women feel that makeup actually makes a woman look older. While some beauty brands, notably Dove, have made confidence-building a big part of their brand platform, for most brands it’s the same-old insecurity peddling. Poignantly, the majority of women in our survey said they looked best in their 20s or 30s. But 70% said they didn’t realize it at the time.
5. Color vs. Skincare
The big beauty brands market skin care to older women and color cosmetics to younger women. But if older women could give one piece of advice to their younger selves it would be: Invest in skin care, not makeup.