For years, many brands in the beauty industry have catered to baby boomers (products for mature skin and hair) and the younger Gen Z and Gen Alpha.
But CNBC reports that Gen X is actually “one of the biggest beauty spenders,” and beauty companies are “paying attention.” Gen X (born between 1965 and 1980) is often overlooked by marketers, sandwiched between the larger baby boomer and millennial generations.
Data from NielsenIQ (reported by CNBC) reveals that “Gen X will be the consumer spending leader globally through 2033, surpassing $20 trillion in spending power.” About 25% of the total spend on beauty products and services is from Gen X, and it’s expected the market will expand to 1.3 times its current size in the next five years.
Gen Xers are established and financially stable, with money to spend. They’re embracing anti-aging and longevity trends and are very brand-loyal. Market research company Circana reports that Gen X households account for “44% of total dollars spent on beauty in the past year, with skincare being their top category.”
Larissa Jensen, a beauty industry advisor at Circana, says Gen X will increase its spending on makeup and haircare. She adds, “It’s a trend that’s been complemented by a broader focus on wellness and anti-aging.”
The big shift is that beauty companies no longer ignore aging consumers. Anna Mayo, a NielsenIQ beauty thought leader, told CNBC, “For the first time, we’re seeing brands launched and they’re talking about menopause…[which] really helps keep people engaged. They feel like they’re not buying something that was made for a college student.”
Right now, Gen X shoppers are “experimenting with different brands and products,” making it an ideal consumer market for small, independent beauty brands to target. Once these shoppers find products and services they like, Mayo says they “are likely to stick to and continue investing in [them].”
The takeaway for small businesses? Don’t overlook the customer who’s already ready to spend. While Gen Z may dominate the conversation, Gen X often has more disposable income—and once they find brands they trust, they tend to stay loyal. For independent beauty businesses, that’s a smart growth strategy.
Rieva Lesonsky is the founder of Small Business Currents, a content company focusing on small businesses and entrepreneurship. You can find her on Twitter @Rieva, Bluesky @Rieva.bsky.social, and LinkedIn. Or email her at Rieva@SmallBusinessCurrents.com.
Photo courtesy Getty Images for Unsplash+
