What’s in this report?

According to NIQ’s 2023 Consumer Outlook, consumers have four top priorities in 2023:

• Mental wellness (46%) 
• Financial and job security (46%) 
• Physical wellness (46%) 
• Saving for unforeseen circumstances (44%) 

For 46% of surveyed global consumers, financial health and job security are on par with mental and physical wellness as the leading areas of importance to our lives.  

What follows is an analysis of how these shifting priorities impacted consumer spending on Beauty and Personal Care (BPC) in 2022, and what’s next for the industry in 2023.