Top Beauty Products
Whether you’re running an ecommerce store selling beauty products or are thinking of starting one, it’s important to keep up with consumers’ changing demands to ensure your brand is in sync with the latest beauty trends. This includes knowing what the top-selling beauty products are.
According to recent research on the purchasing preferences of beauty buyers, the most popular beauty product consumers buy is skincare products. These accounted for 42 percent of the global cosmetic market in 2020.
The second top-selling beauty product is haircare, making up just over one-fifth (22 percent) of the market share. This is followed by make-up, with 16 percent.
Together, these top three beauty products contribute to 80 percent of the cosmetic market worldwide. In other words, out of every dollar consumers spent on cosmetics in 2020, $0.80 went to these three top-selling beauty products.
Perfumes and hygiene products make up the five top beauty products consumers purchased in 2020. Both of these have market shares of 10 percent each.
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Change in Market Share of Top Beauty Products
Currently the most popular beauty product (and by a significant margin), the market share of skincare products has been increasing over the past decade.
A decade ago, its market share was at 31 percent—11 percentage points lower than its current market share. By 2015, this had increased to 35.3 percent, before hitting the 40-percent mark in 2019.
For the market share of skincare to grow, others had to give. Among the top beauty products, perfumes experienced the biggest loss. Its market share in the global cosmetics market fell from 14 percent in 2011.
Top Beauty Products: Purchase Factors
When deciding between what beauty products to purchase, buyers value the products’ quality above all else. Nearly seven out of ten consumers (69 percent) list it as an important factor.
Price is also something many consumers consider—65 percent of them say affordability is key. This is followed by the brand reputation with 51 percent, having a clear list of ingredients used to produce the products with 36 percent, and usage instructions with 35 percent.
If you want to get one step ahead of your competitors, selling top beauty products isn’t enough; you need to look to the future and foolproof your brand.
According to research, male beauty buyers want to see more post-workout products on the market, while female beauty buyers are looking forward to using augmented reality to try on make-up.