Thanks to young women and moms, the at-home nail care market has been doing well even during the current economic slump, according to latest research by Mintel, a leading global supplier of consumer, product and media data and analysis.
"The beauty industry generally benefits when consumers have higher levels of disposable income; however, the nail care industry has experienced strong growth in recent years, despite the weak economy," says Shannon Romanowski, beauty and personal care analyst at Mintel, in a press release issued by the company. "Nail polish offers women an affordable way to experiment with new colors and stay current with fashion trends, often for less than $10 a bottle. The affordability of nail polish, combined with new products and colors, makes nail care a reasonable splurge for lower- to middle-income women."
Women in households with children use more nail care products than those without children in their homes. Nearly a quarter (24%) of women with children use nail art accessories compared to 11% in households without children. It's believed that the reason for this is that moms might be tight on time and might lack the extra income to spend on a spa, but still want to treat themselves to fashion-forward beauty.
Young women are also helping the nail care market, with a high percentage (in the 18-24 age range) using colored nail polish and there is also high usage of nail art, artificial nails and gel nail polish (in that order). Young consumers are influenced by fashion trends and are willing to experiment with new looks.
"Nail care users younger than 35 are significantly more likely than their older counterparts to view wearing nail polish as a way to express their personality and follow fashion trends. Meanwhile, those between 35 and 44 feel that painting their nails is a way to pamper themselves and take a moment of 'me time' in their busy schedules," adds Romanowski.
While expense plays a role in why women choose to do their nails at home, they are also concerned with health and safety issues at salons. In addition, 18% think visiting salons simply takes up too much time.
For continued growth in the at-home nail care industry, Mintel advises that it is essential for companies to reach out to the multicultural market and to older women.
Photo: Gelish Basix Kit/Courtesy of Gelish