Skin Care: A Huge Expanding Market

Market Trends Baby boomers are one-third of the population Shortly after World War II ended, one third of the world’s population was born within an 18-year period. These individuals are now known as the “Baby Boomers”. Market trends are changing and more than 76 million people in the US (9.8 million in Canada) are ready to buy their way to health, beauty, and wellness.†Who controls the wealth? Now more than ever, the baby boomers of the 1950’s are starting to see the signs of aging. They’re looking for the right solution to achieve young, healthy looking skin. And they have the resources to do it — Baby Boomers control more than 70% of all the wealth and account for more than 50% of consumer spending. *Skin care industry-a huge expanding market Market trends show baby boomers have been heavy consumers for decades. From diapers to cars, this generation has impacted markets in all categories. Now more than ever, Baby Boomers are leaving their mark on the skin care industry. People are looking for skin care products to make them look and feel younger.In recent years, skin care has become the most talked about and fastest growing segment of the personal care industry^^. The facial skin care market in the United Sates boasted sales of over $6.7 billion¥ and prestige skin care products generated sales of $5.3 billion^^ in 2004 with both segments showing continued growth in the industry. At Nu Skin we offer skin care and anti-aging products to fill the needs of today’s consumers. People simply want to live better, longer. The boom of entrepreneurs and home-based businesses Downsizing, re-sizing, restructuring, technology — many jobs could be obsolete within a few years. The need for security and control has led to a rise in home-based businesses. “In the new economy the sheer quantity of compensation is no longer enough…we don’t simply want money we want lifestyle.”† Market Indicators Baby boomer generation is pushing for anti-aging products Baby boomers control 50 percent of consumer spending* Every year in the US, consumers spend over $12 Billion on skin care products^^ Approximately 50 million people in the US derive part or all of their income from self-employment† †Paul Zane Pilzer, The Next Millionaires, 2006 *Ken Dychtwald, Ph.D. The Power Years, 2005 ^ Rodman Publication Inc. 2006 ^^Kline and Company, 2005 ¥Facial Skincare – US, Mintel International Group Ltd, 2006