From Biggest Prize to Cultural Catalyst
For years, Gen Z was treated as beauty’s ultimate prize: the cohort brands chased for growth at any cost. That narrative is now shifting. Analysts highlight that high-spending Gen X consumers account for almost half of total beauty spend, while boomers are finally receiving renewed attention thanks to higher disposable income, efficacy-driven purchasing and strong loyalty. At the same time, Gen Z’s direct share of the market remains meaningful, representing 17% of beauty and personal care spend in Europe in 2025, with forecasts suggesting this could reach 20% by 2029. The crucial difference is that Gen Z’s value is less about immediate revenue and more about cultural leverage. Their tastes travel quickly across platforms, shaping what feels modern, inclusive and relevant. Winning this cohort today is less a sales play and more an insurance policy on future relevance.
Influence Over Income: How Gen Z Rewrites Beauty Norms
Gen Z’s power in beauty is rooted in their ability to set trends and behavioural norms rather than outspending older generations. Their preferences dictate which ingredients go viral, which aesthetics are aspirational and which brands feel out of touch. Yet, this influence is not won with one-off hype. Strategists stress that the brands succeeding with Gen Z treat influence as something that compounds over time through trust, performance and cultural resonance. The cohort’s engagement with beauty has matured as its oldest members approach 30. They now demand authenticity, complexity and genuine cultural connection, while pushing back against algorithm-driven sameness in their feeds. Their loyalty is conditional and values-driven, shaped by economic pressures that make every purchase more considered. For brands, the opportunity lies in understanding that Gen Z’s paradox—value-seeking yet idealistic—can’t be exploited; it must be acknowledged and met with honest, consistent value.
Premiumisation with Accessibility: Beauty as Everyday Luxury
For Gen Z, beauty has become an accessible form of luxury during economically challenging times. Rather than splurging indiscriminately, they gravitate towards products that feel elevated yet financially flexible, rewarding brands that combine premiumisation with accessibility. That means clearer proof of performance, transparent positioning and experiences that honour individuality instead of prescribing a single ideal look. Beauty is framed as a small, repeatable treat rather than a major investment, which makes flexible price ladders and layered assortments essential. Analysts project that the global Gen Z beauty market could grow from US$208bn (approx. RM962bn) in 2026 to US$592bn (approx. RM2.74tn) by 2034, underscoring the long-term stakes. But this growth will not come from traditional loyalty patterns. Instead, brands must continually earn trust through efficacy, ethics and cultural sensitivity, building relationships where consumers feel seen, not squeezed, by premium narratives.
Inside Retail’s High-Low Pivot to Capture Gen Z Influence
Retailers are rapidly retooling their beauty retail strategy to reflect Gen Z’s high-low approach to shopping. Online fashion giant ASOS, for instance, is sharpening a high-low brand strategy that mirrors how its customers actually build routines: pairing prestige items with affordable essentials across make-up, skin care, hair care and fragrance. With around 190 beauty brands spanning budget to premium, ASOS aims to recreate the reality of a consumer’s make-up bag or bathroom shelf, rather than a purely aspirational display. The company delivers monthly trend-led “hero” fashion collections and then curates complementary edits of face and body products that reflect the same high-low mix. This approach does more than drive basket size. It positions ASOS as a one-stop-shop where Gen Z can translate an aesthetic inspiration into a full look, reinforcing loyalty by aligning with how they already blend indulgence and practicality.
Why Gen X and Boomers Pay While Gen Z Points the Way
The emerging dynamic in beauty rests on a clear division of roles: Gen Z points the way; Gen X and boomers pay the bills. Gen X, described as financially stable and brand loyal, prioritises anti-ageing and longevity, making them a dependable revenue base. Boomers, long underserved, are now being recognised for their higher disposable income and desire for efficacy, prompting brands to revisit how they communicate results and benefits. This older spending power effectively funds the experimentation that Gen Z inspires. When younger consumers propel new aesthetics, formats or brand voices into the mainstream, it is often older cohorts who ultimately adopt and monetise those trends at scale. Brands that balance these audiences—designing culturally sharp concepts that resonate with Gen Z while delivering the reliability and outcomes older shoppers expect—will be best placed to navigate premiumisation without losing accessibility or trust.