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Markets & trends

Ageing of the Brazilian population translates brings growth opportunities for the beauty industry

92% of women aged over 60 buy cosmetics but feel there is a lack of specific products for their needs.

Paula Penna, product manager at Mary Kay

Paula Penna, product manager at Mary Kay

Brazil is getting older. Life expectancy, which had not even reached 54 in the 1970s, is now over 75. Factors such as the expansion of basic sanitation systems and new medical resources are among the driving forces behind this progress. Brazil´s national statistics agency (IBGE) says more than one-third of Brazilians will be aged over 60 in 2060. This compares with the current ratio of 11%.

If the ageing of the population may be a matter of concern for the public sector, as it will lead to an increase in spending on health and social security, the new demographic profile brings opportunities for the private sector. People aged over 50 spend an estimated R$1.1 trillion a year and represent 34% of total consumption in Brazil.

The higher life expectancy has brought with it the need to look younger for a longer time. Increasingly more people are investing in holding back the ageing process and the beauty sector never stops launching products to stave off the signs of age. “There is a greater concern with well-being and feeling good. Women of all ages have been taking better care of themselves and this number never stops growing,” says Paula Penna, product manager at Mary Kay.

Dermatologist Daniela Landim

Dermatologist Daniela Landim

Figures from Mintel show that 15% of Brazilian women use anti-ageing products. Women over 55 are the keenest buyers but there is also a great penetration among young women, aged from 16 to 24. “There are a number of skin care brands with products targeted at customers from their 20s, offering quality products and very competitive prices,” says dermatologist Daniela Landim.

A study carried out in 2014 for Sebrae (Brazilian Service for the Support of Small and Medium-Sized Companies) revealed that 92% of women aged over 60 use cosmetics. They feel happy at this stage of their lives and believe they have fulfilled their mission but still have dreams and want to do things they were unable to do in the past, such as take care of their appearance. “Women over 60 nowadays are much more beautiful and feeling good about themselves”, said Dr. Landim.

Of those interviewed, 46% spend around R$110 a month on cosmetics and make-up – and this figure is set to increase. A recent survey by the SPC (Credit Protection Service) showed that 26% of older women were ready to spend more on beauty products. However, is the industry really meeting the market demand?

The skin tone of patients in this age range loses its firmness and they complain that it becomes flaccid, with wrinkles and blotches. Hair becomes thinner and they may spot the first signs of baldness. The face, neck, cleavage and hands are the first areas to be adversely affected by the action of the sun and show signs of age,” Dr. Landim added.

Among the most popular products used by women aged 60 and over are face moisturizer (73%), hair color (70%), sunscreen (69%), body lotion (67%) and make-up (58%). However, when asked about the use of specific products for their age, the numbers fall sharply: face moisturizer (21%), hair color (12%), sunscreen (20%), body lotion (10%) and make-up (8%).

We believe every woman has specific needs according to their skin type and age. We launched the TimeWise Repair line in 2013, offering advanced skin care technology, and it has had an excellent response so far,” Penna says. Before the launch of the new collection, Mary Kay already had the TimeWise range, which claims to offset the first signs and moderate signs of age.

The international giants are also turning their attention to the 60+ group. L’Oréal has actresses Helen Mirren and Diane Keaton, who are approaching their 70s, fronting major cosmetics campaigns. Jessica Lange, who is 65, has also showed off her mature beauty for Marc Jacobs Beauty.

Renata Martins

Portfolio

© 2015 - Brazil Beauty News - www.brazilbeautynews.com

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