The beauty industry takes a gamble on the “sellennial” generation
Beauty brands are turning their focus towards senior consumers, or “sellennials”; a growing market for the industry. And not without reason: in Spain alone, people aged between 55 and 75 account for 47% of investment in beauty products.
There seems to be good times ahead for this sector, but the question remains: How can you get to know your silver customer well enough to offer them products and services that respond to their needs and interests?
The answer to this was the focus of last week’s talk given by Idoia García de Cortázar, Head of the Silver Economy Training Area at FITS — IED Barcelona’s Future Innovation Tailor-Made School — and Consultant specialising in the design of services and business models for the Silver Economy. The event included an expert panel discussion that saw the participation of several brands that incorporate this target demographic into their sales strategies.
The following panellists joined Idoia García de Cortázar for the discussion:
– Marta Panera, Teacher at ESIC and Head of Marketing and Comunicación for Western Europe at FOREO.
– Jennifer Verhelle, Marketing Brand Director for Cumlaude Lab at Laboratorios Dermofarm.
– Carla Burch, Group Brand Manager at Martiderm.
During the meeting, which was organised by the platform Beauty Cluster, the topic of age empowerment was addressed, going beyond mere advertising strategies and focusing on the perspective of product conception.
The beauty industry’s growing interest in this consumer profile is part of the so-called Silver Economy, a strategic sector of the economy geared towards meeting the needs of the over-55s, including products and services.
In this context, Idoia García pointed out the need for institutions and businesses to “reflect on the opportunity we have around the Silver Economy, to drive a new sector through innovation and training”. “The road ahead is exciting; no less than a redefining of the future of society”, she said.