The Millennials are very picky about their beauty brands and are interested in high quality, yet at a low cost. After conducting a survey, Olivia Tong, research analyst and director of U.S. cosmetics, household and personal care at Bank of America Merrill Lynch, said that millennials tend to go for high-end beauty and cosmetics brands.
“Estée Lauder’s Clinique and MAC were two of the top five most-cited brands, highest in prestige, and many respondents expressed a desire to buy more… of these brands as their disposable income rises… It shows that although Millennials have limited purchasing power, they are willing to spend more on [certain brands].”
Cover Girl and L’Oréal’s Maybelline topped the list for cosmetics, which is no surprise after hearing the results of the survey. As for other sections of the survey, the top nail polish pick was Coty Inc.’s OPI and the top skin care brand was Johnson & Johnson’s Neutrogena.
Image: Via Flickr/Elizabeth Hahn