For beauty business news, beauty store owners turn to Beauty Store Business. Beauty business trends, beauty business profiles and more!
Issue link: http://beautystorebusiness.epubxp.com/i/275275
70 April 2014 | beautystorebusiness.com Beauty Culture iStockphoto.com Gift Cards, E-Gifting and P2P Offerings On the Rise Sales of gift cards are soaring. Research from advisory company CEB indicates that sales for the category will soon surpass $118 billion, an increase of 8% over 2012. Furthermore, e-gifting sales are expected to rise from $300 million in 2012 to $3 billion for 2013. And their popularity is growing, says CEB, which predicts that the gift-card market will surpass $140 billion in sales by 2016, spurred on by the e-gifting category, which is expected to top $10 billion during the same period. Researchers aren't seeing an overlap between the two categories. However, a new competitor has emerged, essen- tially the peer-to-peer category. The P2P category consists of banks and non-traditional financial players—such as PayPal—which offer the ability to send gifts in real time. Subsequently, innovations related to e-gifting and P2P services are expected to contribute to the decline of unused gift card value or "spillage." Right now, spillage is estimated at 1% of a total gift card's value spent, down from a high of nearly 10% in 2006. Millenial Interest May Indicate Brand Success Which brands are making the biggest impact on millenials today? Teen Vogue and Goldman Sachs' Apparel and Accessories Global Investment Research Group partnered up to discover the answer, which they compiled in the 2013 Teen Vogue/Goldman Sachs Brand Affinity Index. Their research ranks 363 millennial fashion, retail and beauty brands from a three-pronged perspective, incorporating teens' awareness of the brand, favorability of the brand and word of mouth around the brand. Survey findings from two different sample groups were used to differentiate between millennial brands that are currently embraced by the establishment and rising brands considered by influential teens. A national sample of females ages 13 to 29 reflects preferences among "mass" millennials. The second sample reflects a Teen Vogue It Girl reader panel of fashion-savvy influentials. Some of the beauty brands included in the Top 20 favorite brands among the It Girl panel were OPI, Essie, Maybelline and Sephora, which ranked No. 4. Data from both sample groups were used to identify brands that have potential with secondary adopters and, ultimately, a mass audience. The beauty brands that made the Top 20 list of brands that are rising include Essie (No. 5), followed by OPI (No. 12), Moroccanoil (No. 16), ULTA (No. 18) and Sephora (No. 20). Millenials are considered bellwether consumers as they are generally the first to market, first to adopt and first to share brands; thus, their behavior builds momentum for brands to reach the next strata of shoppers. ■ Do you have culturally relevant information that our readers ought to know? Send it to senior editor Manyesha Batist at mbatist@creativeage.com. Sleep Deprivation, Skin Aging Intersect Sleep quality impacts skin function and aging, according to a clinical trial of physician-scientists at University Hospitals Case Medical Center in Cleveland. Study participants consisted of premenopausal women between the ages of 30 and 49—with half exhibiting poor sleep quality. The classification was based on the average duration of sleep and the Pittsburgh Sleep Quality Index, a questionnaire-based assessment. The study involved a visual skin evaluation and participation in several noninvasive skin challenge tests, including UV light exposure and skin barrier disruption. Participants also filled out a sleep log for one week to quantify sleep duration. The study, which was commissioned by Estée Lauder, discovered the following: • Poor sleepers have increased signs of skin aging and slower recovery from a variety of environmental stressors. • Poor sleepers have a worse assessment of their own skin and facial appearance. • Poor sleepers show increased signs of intrinsic skin aging, such as fine lines, uneven pigmentation, slackening of skin and reduced elasticity. Notably, there isn't a significant difference between the groups in signs of extrinsic aging, such as coarse wrinkles and sunburn freckles, which are primarily due to sun exposure. • Poor sleepers recover more sluggishly from sunburn, with redness remaining higher over 72 hours. • Good sleepers have a more effective barrier to moisture, demonstrating that damage is repaired more quickly. Essentially the data showed that poor sleep impacts the body's ability to repair itself at night and spurs skin aging, suggests Dr. Daniel Yarosh, senior vice president of basic science research for R&D; at The Estée Lauder Cos. B e a u t y C u l t u r e 0 4 1 4 . i n d d 7 0 Beauty Culture 0414.indd 70 3 / 5 / 1 4 1 : 4 6 P M 3/5/14 1:46 PM