AMERICAS: US COSMETICS FOR BABY BOOMERS?
The baby-boomers, those born between 1946 and 1964 (although definitions vary), are an economically powerful force in the US. The nearly 80 million Americans in this demographic are forecast to spend $3 trillion in 2007. Their impact can be demonstrated by the fact that the market for anti-aging skin-care products, which on average cost 2.5 times more than other premier brands, is growing at 33% per annum in comparison with 4% growth in the market for regular skin-care products. Revlon have created a distinct new brand to cater to this market. This growth is being sustained by celebrity endorsement - L'Oreal has recently hired Jane Fonda and Diane Keaton, both in their 60s, to advertise their products in this sector.
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