The beauty industry has long preferred to advertise via traditional channels like magazines and TV, but as the amount of time consumers spend on these channels continue to dwindle in favor of the internet, the industry is increasing its ad spend online. By 2021, the internet is expected to account for half of the Beauty industry’s total global ad spend, while ad spend in magazines and TV are forecast to continue their decline, per new data [press release] from Zenith.
Examining 14 key marketers across the globe that account for more than three-quarters (77%) of the global ad spend, Zenith found that Beauty advertisers allocated 13% share of their spending to magazine advertising last year. That percentage is expected to shrink to 8% by 2021, but nonetheless remain more than the ad spend allocated towards magazines by all advertisers (4% in 2018 and 3% forecasted in 2021).
Meanwhile, TV advertising for the Beauty industry is expected to decline from 40% share in 2018 to a predicted 35% share in 2021. Once again, the Beauty industry will remain more heavily invested in TV than the advertising market as a whole (27% share dedicated to TV).
In the US, which is the second-largest market for the Beauty industry after China, advertising spending this year will total $2.6 billion. It appears that the Beauty industry is much more heavily invested in traditional media in the US than globally, particularly magazines.
The majority of Beauty industry ad spend in the US is being invested in magazine and TV advertising, with 40% share of budgets allocated towards TV advertising and an impressive 37% share towards magazine advertising. By comparison, less than one-quarter (23% share) of US beauty advertising budgets are being invested in digital advertising.
Again, the allocation of advertising dollars in the beauty industry in the US is contrary to broader advertising trends with PwC finding that in 2019, overall internet ad spending in the US is far greater than that of spending on TV and magazines, combined.
About the Data: The data is based on a survey of beauty advertising in 14 key marketers across the world: Australia, Brazil, Canada, China, France, Germany, India, Italy, Russia, South Koria, Spain, Switzerland, the UK and the USA. These markets account for 77% of global ad spend across all categories and are representative of trends worldwide.