A customer shops for makeup at a Walmart store in Secaucus, New Jersey, March 5, 2024.
Gabby Jones | Bloomberg | Getty Images
As consumers become more educated about the products they’re buying and look to make more holistic purchases, a new retail category is emerging.
What were once three separate sections — beauty, health and wellness — have converged into one large category as consumers look for products that serve multiple purposes. That change in consumer behavior is creating more competition for companies racing to win over the corresponding share of customers’ wallets, industry experts said.
According to a new study from consulting firm AlixPartners, nearly 100% of consumers surveyed believe that the category is just one budget item, whereas it was three before.
The survey, conducted jointly between CEW and AlixPartners between May and June, sampled 1,000 consumers age 18 and over and split across gender, age, income brackets…
