Millennials like myself have no use for the anti-aging industry. Here’s why.
Searching for quick fixes to generate camera-ready faces has encouraged millennials to buy more makeup than ever. We’re a little vain, and that’s okay. Within the $13 billion cosmetics market, millennial women stand as the most dynamic spending power, accounting for 47 percent of all heavy-buyer purchases (heavy buyers are defined as those who purchase ten or more cosmetics). In turn we’ve invested less in skin care, and even less within the anti-aging market, whose delayed promises of youth are too slow-paced for our insta-needs. How much do we not give a hoot about anti-aging? Consider this: Millennials are more likely to use lip balm, facial wipes, and acne treatments before they reach for a tube of anything that promises to harness youth. As a result, the anti-aging sector has continued its steady five-year decline (sales have fallen from roughly $2.2 billion in 2010 to $1.9 billion in 2015 according to a report from Mintel).