The state of the global beauty industry in 2023


The state of the global beauty industry in 2023

NIQ Brandbank’s latest report explores the beauty category, what makes its different than others FMCG verticals, and how beauty brands are digitalizing the shopper experience. This report ultizises NIQ Brandbank Data powered by Label Insight, along with insights and data from the NIQ Beauty Hub, and uses U.S. data as a case-study for analyzing beauty shopper trends and habits.  

Learn more about trending beauty attributes, products, and make-up styles that are influencing shopper spending habits in 2023. ​ 


The state of beauty

Beauty maintains a healthy share of the U.S. market as we head into 2023. With an estimated total revenue of $90.2 billion across the omnichannel in 2022, a figure that was up 6.7% from the previous year, the beauty industry is well positioned for growth in 2023. 

So what are shoppers’ current priorities and how can the e-commerce landscape support these needs?​ 

With the ever-surging global cost-of-living crisis impacting shoppers, what is the impact on the beauty industry? Are shoppers still seeking luxury beauty or is affordable beauty winning out? 

This report examines the state of the beauty industry in 2023, exploring how brands and retailers can create the best, most-seamless shopping experiences to meet the needs of today’s omnichannel beauty shopper. ​ 

We’ve broken down the essential features of a beauty product description page, from the importance of complete and accurate data to the power of rich media and quality product imagery, and lastly a look toward the future of beauty shopper personalization, to inspire brands to create seamless shopping experiences across the omnichannel.

Download the report to learn:  

  • Where beauty consumers are shopping today 
  • What attributes, ingredients, and products are trending in 2023 
  • Which companies are showcasing best-in-class shopping experiences that meet the needs of the 2023 beauty shopper  
  • How to meet the needs of beauty shoppers effectively on the product description page