US retail sales of beauty products reached $46.2 billion in 2015 and are slated to grow to $51.8 billion by 2020, for a gain of 12%. This slow and steady growth will be fueled by a stronger economy, as well as by population gains among women (and men), and multicultural segments, particularly Hispanics. The category is so broad and diverse that the abundance of choice can cause consumers to stay in their routines, buying the same brands and products and shopping at the same places for beauty products repeatedly.
Diana Smith, Senior Research Analyst - Retail & Apparel
This report covers the following areas:
Beauty market slated for growth
Amazon rivals specialty retailers as preferred retail channel