There were 41 products included in IRI’s 2020 New Product Pacesetters report in the overarching beauty space, encompassing cosmetics, hair care, personal cleansing, grooming and skincare. Those 41 products drove $619 million in sales, making up 22% of first-year dollars for nonfood items.
While average first-year sales dollars were up for new beauty products, the category remains the ultimate in personal choice, making each product very niche. Because of this, there is a vast difference in first-year dollars for all nonfood products and first-year dollars for beauty products.
There was a notable success in mass beauty throughout 2020 for brands and new products that filled niches related to self-care, sustainability and indulgence.
Self-care
Consumers showed increased interest in self-care trends related to anti-aging and skincare. While many could not visit their estheticians and facialists throughout 2020, product treatments intended to offset signs of aging performed well, including the number eight nonfood New Product Pacesetter, Olay Retinol24.
Indulgence
Social distancing did not stop consumers from ensuring they looked their best for Zoom meetings and virtual hangouts. Of the cosmetics and hair care products included in New Product Pacesetters, numerous products for hair coloring and nail care came in handy for consumers while salons were closed last year.
Sustainability
Like most other industries, beauty products that consumers deemed good for the body and the planet did well in 2020. Procter & Gamble had a banner year with the debut of Native deodorant, earning $76.4 million and ranking number five among nonfood New Product Pacesetters.
Year over year, through the changing trends and times, brands that are realistic about launching new products, launching the right product in the right place at the right time for the right consumer, see success for their new products.
About the Author
Larry Levin serves as executive vice president within IRI's Consumer and Shopper Marketing (CSM) Center of Excellence. In his role, he oversees the commercial sales strategy for all of IRI's new consumer and shopper products, and he leads its survey and new product innovation growth sectors within the CSM Center of Excellence.
While average first-year sales dollars were up for new beauty products, the category remains the ultimate in personal choice, making each product very niche. Because of this, there is a vast difference in first-year dollars for all nonfood products and first-year dollars for beauty products.
There was a notable success in mass beauty throughout 2020 for brands and new products that filled niches related to self-care, sustainability and indulgence.
Self-care
Consumers showed increased interest in self-care trends related to anti-aging and skincare. While many could not visit their estheticians and facialists throughout 2020, product treatments intended to offset signs of aging performed well, including the number eight nonfood New Product Pacesetter, Olay Retinol24.
Indulgence
Social distancing did not stop consumers from ensuring they looked their best for Zoom meetings and virtual hangouts. Of the cosmetics and hair care products included in New Product Pacesetters, numerous products for hair coloring and nail care came in handy for consumers while salons were closed last year.
Sustainability
Like most other industries, beauty products that consumers deemed good for the body and the planet did well in 2020. Procter & Gamble had a banner year with the debut of Native deodorant, earning $76.4 million and ranking number five among nonfood New Product Pacesetters.
Year over year, through the changing trends and times, brands that are realistic about launching new products, launching the right product in the right place at the right time for the right consumer, see success for their new products.
About the Author
Larry Levin serves as executive vice president within IRI's Consumer and Shopper Marketing (CSM) Center of Excellence. In his role, he oversees the commercial sales strategy for all of IRI's new consumer and shopper products, and he leads its survey and new product innovation growth sectors within the CSM Center of Excellence.
