In 2050, there will be more than 130 million Hispanics in the US! What will be the impact on make-up?
In 2050, the Hispanic population in the United States will exceed 130 million, that is, more than any other country in the world. Meanwhile Mexico has become in a few years Latin America’s second largest economy. In both cases, women spend more than 48 minutes every day in their bathroom. Hispanic population and Mexico…., two major topics addressed on 7 and 8 September at 02:30 pm at MakeUp in New York. Save the date!
The Hispanic population already represents the largest minority group in the United States, since one out of six American is part of it. According to several recent surveys, the purchasing power of the US Hispanic population would place this community in 16th place among the largest economies with a GDP higher than that of Turkey and only slightly lower than Indonesia, the 4th most populated country in the world.
A purchasing power that increases faster than other communities, whether African Americans or Natives.
The influence of Mexico
Mexico is the second largest economy in Latin America after Brazil. Mexican women pay great importance to their beauty. According to Sandrine Haller from Cosmetic Info Paca, “The beauty and personal care market in value weighs 7.7 billion euros. It is up 5% and the forecast for 2017 is + 41%.
The main suppliers of Mexico are France, the United States, Belgium and the UK. The most imported beauty products in Mexico are perfumes and body creams. France is Mexico’s third supplier (€ 138 million) in dermo-cosmetics. Sales of luxury cosmetics in 2014 have increased by 2% in Mexico (source NPD Group).
Skin care products continue to grow in spite of the competition in body care and face care products. Consumers are looking for more multifunctional products. Skin lightening products continue to grow in retail stores, department stores or direct sales.
Nail care products continue to be growth drivers, followed by the eye segment and the facial make-up segment. Results concerning Mascara are satisfactory given its low cost. It is a key product for Mexican women. Eye shadows are progressing thanks to high added value products while many limited editions were launched to stimulate demand.”
Who can resist tanned skins!?
Again according to the Cosmetic Info Paca study: “from one culture to another, Beauty standards vary. Expectations regarding complexion show an overall trend for medium dark skins to lighten and of clearer skins to want to darken. Women with the darkest skins in the country, however, do not want to change the color of their complexion, but only correct imperfections (darker or lighter spots).
Personal hygiene and a tanned skin are very important to this female population. On average, a Mexican woman spends 48 minutes every day in her bathroom.
She makes up herself up slightly. She highlights her eyes with brown Mascara and an eyeliner. The lipstick she chooses will be in dark shades: purple, brown or plum just like her eye shadow. And she uses very little foundation.”
2:30 pm – 3:00 pm “The growing importance of the Mexican market”
Mexico is a growing market with a population of 120 million consumers. In addition, Mexico is becoming an industrial platform of choice for the local market and exports to the United – States. We will share key information about this market and highlight its importance for the American cosmetics industry.
Conference led by the Canadean Intelligence Group
03:15 pm – 04:00 pm “What’s Up in Mexico?”
Roundtable moderated by Charles-Emmanuel Gounod, Beautyworld Connexions, with the participation of:
– José Filipe, Executive Vice President, Albéa
– Vincent Groccia, Senior Vice President Operations Americas, Texen
– Alfonso Rodriguez Peña, C.S.O., Swan Cosmetics of Mexico
– A representative from the Jafra Cosmetics Company
– Carlos Bergunza, CEO of the Mexican Chamber of Commerce for Cosmetics and Body Care.
02:30 pm – 03:15 pm “The Rise of the Latino Market & How the U.S. Beauty Market Must Evolve To Effectively Speak to Them and Capture Share”
Conference by Elle Morris, President of Elmwood NYC.
On this occasion, Elle Morris will address the following topics: the evolution of the Hispanic culture, consumer habits and how they influence the positioning of cosmetic brands and distribution channels for makeup products.