Justin Timberlake's new music video, “Mirrors,” should be required viewing for beauty execs looking to make a real impact on their companies’ bottom lines. It may just inspire them to rethink dated marketing plans that ignore Boomer and older women—who now make up more than 40% of the beauty consumer market.
While shot as a tribute to his grandparents' lasting love, the video also serves as a testament to the enduring importance of beauty throughout a woman's life. The storyline traces a passionate couple from their teens to their eighties, and, even at her latest stage of life, the woman radiates vitality. She’s fashionably dressed, her hair is perfectly styled, and a close-up of her face reveals a flattering use of foundation, blush, eyebrow pencil, eyeliner and lipstick.
Beauty companies may ignore the underlying reality of this slice of life, that a woman’s beauty matters at every age, but they increasingly do so at their own peril, and here’s why: before Boomer women began turning 50, just 31% of beauty product use came from women 50 and older. That number is now 44%, and it includes 51% of lipstick/lip gloss, 50% of at-home hair color, 50% of facial moisturizer, 49% of blusher, 45% of nail care, and 44% of foundation use. (Source: Gfk MRI)
While those market shares are impressive, even more so is the fact that age has virtually no impact on the frequency of use. Eighty-one percent of women age 18-49 use cosmetics and skincare weekly, compared to 79% of women 50-59, 80% of 60-69, and 75% of women 70+.
What age does appear to impact is purchase behavior. Last year, Vibrant Nation reported that just one in ten women over 50 buy the same skincare and cosmetics products they used in their 30s and 40s, and just half use the same brands. While brand loyalty is vulnerable at this life stage, consumers don’t get the sense that beauty companies care. A majority of women 50+ tell us they have been forgotten by the beauty industry and are left to research beauty products on their own —a result of finding today’s advertising unrealistic.
So what do women 50+ want from the beauty industry? The same thing Justin Timberlake’s grandparents share - a committed relationship that evolves with them at every stage of life. For beauty execs willing to move their companies in that direction, here are some things to keep in mind about women 50+:
Need inspiration? Check out JT’s video clip for “Mirrors” here.
Unlike many previous generations, women in the Boomer and 50+ audience are looking not to portray the sometimes unrealistic images found in fashion and beauty magazines, but to embrace their current life stage and all that comes with it. The sooner beauty marketers realize this and act on it, the better they will be able to connect with this sometimes forgotten but increasingly valuable, demographic.