Consumer Edge：2025年全球美容行业消费者状况展望报告（英文版）

In 2024, Beauty spend growth underperformed broader total consumer spend growth (Chart 1). Among the subindustries in the overall Beauty Industry, Beauty Products showed the most negative growth, but also the most drastic acceleration heading into Q4. This could mean a promising trajectory for the Beauty Industry into 2025. Indeed, the Beauty Industry saw higher spend growth acceleration in the second half of 2024 than Total Spend, another positive bellwether.