Age-defying products
This article was originally published in The Rose Sheet
Executive Summary
U.S. retail sales of anti-aging products will climb to $4.3 bil. by 2003, two-and-a-half times 1998 sales, according to a study published by Kalorama Information. Sales in the cosmeceutical market have grown more than 18% to $507 mil. from 1994 to 1998 and are expected to total $909 mil. in 2003, the study reports. Marketers of mass-oriented cosmeceutical lines include Cosmair's L'Oreal Plentitude, Johnson & Johnson's Neutrogena and Procter & Gamble's Olay, while Estee Lauder is a "significant" player in prestige skin care sales, Kalorama says. Aging baby boomers and a substantial increase of new products contributed to the industry's dramatic growth, the report says
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Marketing In Brief
ModiFace launches forecasting tool: Toronto-based virtual makeover firm introduces ShadeCast, a makeup sampling and forecasting tool based on behavioral tracking. ShadeCast is used in conjunction with iPhone application MakeUp, which allows consumers to virtually try on makeup in hundreds of shades from brands including Revlon, Cover Girl, Lancome and Clinique. ShadeCast offers 1,000 cosmetic shades from 40 brands and assigns a ShadeScore "to approximately position the [app's] hottest and most sampled color." ModiFace exec Nikkie Gatto likens the app to radio music playlists, helping consumers "looking to capture the current look, but also provide vital market intelligence to our retail channel partners," she says in Nov. 3 release. "The value of data to demonstrate the aggregate behavior will help the industry predict the latest trends and help cosmetic manufacturers better understand the color and products which most resonate with online and iPhone virtual makeover users," the company says