“I am invisible. You don’t really see me. Standing here as a representative of Gen X, I can infer that this is a common sentiment,” said Larissa Jensen, vice president and beauty industry adviser at Circana, kicking off her presentation on the Gen X consumer.
Throughout her talk, Jensen shared data on Gen X’s spending habits and values from a recent survey done in partnership with WWD.
For starters, the Gen X consumer represents 20 percent of the population and spends $173 billion on general merchandise annually — this includes key categories like apparel, technology, home products and, of course, beauty. Within beauty in particular, this generation accounts for 20 percent of spend in both mass and prestige, combined contributing $23 billion.
“Gen X has increased their spend on prestige beauty at a faster rate than any other age group,” Jensen said. “When we look at the share of wallet of Gen X, prestige beauty is actually in the top five industries that this generation is purchasing.”
In addition, the consumer is spending relatively evenly across fragrance, skin care and makeup, with Ulta, Sephora and Amazon as her top retailers for prestige beauty.
While it’s clear Gen X is spending and is highly engaged across beauty, most companies aren’t actively targeting this cohort — instead focusing on Gen Zs and Millennials.
Circana’s research showed that across the board, Gen X aligns more closely with Gen Zers and Millennials. “Gen X is no Boomer. We are not the old, older consumer,” Jensen said. “Gen X behaviors align more closely with that younger consumer than with Boomers.”
This means they research products online before purchasing and are more likely to be influenced by a loyalty program.
There are other areas where Gen X doesn’t align with other demographic cohorts. For example, Gen Xers are more likely to be influenced by a free sample, a recommendation from a friend or family member or an in-store display.
“This consumer is either looking for reassurance or making it easy,” said Jensen, adding that they are more likely to prefer certain brands and are less likely to be swayed by a deal.
While this cohort is increasingly comfortable with antiaging terminology, they are prioritizing how they feel over how they look.
“An overwhelming majority of Gen Xers report that it is more important to feel good than to look good,” Jensen said. “The great news is that the younger consumer and the oldest consumer actually report the same sentiment to the same extent, so shifting the language in our materials to be more about feeling good is something that’s going to resonate across every age group.”
Jensen also said that Gen X embraces antiaging terms, but that “menopausal” ranks low on the list in terms of what the consumer would prefer to see on their beauty products. She emphasized the importance of these takeaways when it comes to product naming and brand messaging.
“They are practically begging us to help them embrace their beauty [and] celebrate their age because aging is a privilege,” Jensen said.
Jensen closed out her presentation with the song “Don’t You (Forget About Me)” by Simple Minds, imploring attendees not to forget about this opportunity. “This generation that is so used to being forgotten is really primed and ready to be remembered,” she said.