Neutrogena Lost Dermatologists and Missed Out on the $42 Billion Beauty Boom.

DERMATOLOGISTS; CONSUMER behavior; LAYOFFS

Neutrogena, owned by Kenvue Inc., has seen a decline in its market share in the US skincare industry, dropping from 23% in 2019 to less than 14% in 2023. The company's slow response to changing consumer behavior and competition, as well as a lack of innovation and advertising, has contributed to its decline. Neutrogena's struggles began with the introduction of CeraVe's mineral-based sunscreen, which gained popularity among consumers and dermatologists. Despite efforts to turn the brand around, including enlisting influencers and launching new products, Neutrogena's sales continue to decline. Kenvue acknowledges the challenges and is working to stabilize the business, but it may take time for sales to recover. [Extracted from the article]

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