Over the last decade, skincare led the gains within the prestige beauty industry, fragrance was challenged as consumer usage declined, and Boomers drove demand and influenced innovation within the industry. However, 2015 marked a turning point for the beauty industry, driven largely by shifts taking place within skincare and the heightened importance of Millennials, according to data from global information company The NPD Group.
Today the fragrance category is outperforming skincare, skincare and wellness are becoming more intertwined, anti-aging is becoming less prominent, and the lines are blurring between makeup and skincare. For the first time, the fragrance category contributed more annual dollar gains than skincare. [...] In 2015, NPD found that young Millennials in particular are using more fragrance and less of them are using facial skincare products.
— Read more at Category and Generational Shifts are Altering the Prestige Beauty Landscape, NPD Reports at NPD.