New study shows how Hispanic beauty consumers are dominating the makeup industry
Due to the startling rise in demand for cosmetic goods, Hispanic beauty consumers are upending the makeup industry. They are even surpassing spending in the category by non-Latinas.
Diversity, Equity, and Inclusion (DEI) has emerged as a major customer-facing priority for a large number of organizations. Through inclusive product development that better meets the demands of Latina consumers, as well as more inclusive and representative marketing, this movement has permeated the beauty and self-care sectors. With their extensive collection of shade matching products, beauty brands like Rare Beauty, Hourglass, and Fenty are ideal for Latinas of various skin tones.
A Nielsen survey from 2022 states that among the 62 million Hispanics in the US, nearly half (47 percent) are Millennials. Furthermore, by 2060, there will be 50 million more Hispanic people in the US than there are today. It’s no surprise that Gen Z and Millennial consumers frequently profit from popular beauty trends on sites like Instagram and Tiktok, given that Hispanics tend to be younger than the general population.
Desi Perkins, a Latina influencer on Tiktok, posted a video on her own DIY smokey eye makeup for an event with the hashtag #GRWM (get ready with me). The following insights regarding consumers are also outlined in Nielsen’s Hispanic Beauty Consumer Report:
- Latinas spend an average 19% more on beauty than Total US consumers.
- Latinas make an average of 2 more additional shopping trips per year to stores selling beauty products than Total US Consumers.
The Nielsen survey highlights that, when it comes to hair care and beauty purchases, Hispanic beauty consumers are primarily motivated by three factors: brand trust, product familiarity/past experience, and product suitability for their type of hair or skin. Given these factors, companies that cater to beauty, hair care, and personal hygiene needs ought to enhance their brand confidence among consumers.
There has never been a better time for brands to increase the diversity of their messaging, communications, and advertising representation. Additionally, as the purchasing power of Hispanic beauty consumers rises, beauty and personal care companies ought to keep expanding their product offerings to better meet the needs of Latina consumers.