Beauty - Markets - Landscape - Opportunities
Paper #1 - Growing a Beauty Business in 2022
- Merging with the Metaverse - Meanwhile, artificial intelligence (AI) and augmented reality (AR) beauty technology, provider
- An NFT is a digital asset that represents real-world objects like art, music, in-game items and videos
- Consumers will want their digital persona to reflect their identity and individual sense of style
- Consumers today want transparency. They want safe and high-performing products that are not harmful to the environment
Paper #2 - COSMETICS AND BEAUTY PRODUCTS in Mexico
- There are three segments within the beauty and personal care sector: the mass segment, the prestige segment and the premium segment.
- Mass beauty products represent the highest share (74.05%), followed by premium products (13.94%) and prestige products (12.71%).
- Generally, European products are considered prestigious or premium, since they cannot compete in price with those produced in Mexico, and are valued for their brand image, quality and medium-high price
Trending
- Anti-aging products: These are on the rise not only among the older population, but also among younger people.
- Male hair care products. Men, who are more loyal customers than women, are playing an increasingly important role, and especially in Mexico they are in the habit of using gum or fixative.
- Ethical, healthy and environmentally friendly products. Also vegan products and with recyclable or biodegradable packaging. Companies must offer ecological and natural solutions. For example, solid formats instead of liquids.
- Skin and feeding. According to Mintel, the development of new products based on "super-ingredients" such as algae, kale, etc., has tripled in the last 5 years.
- Personalized beauty: Adaptation of the product to the particular characteristics or tastes of each client.
- E-commerce is still under developed, but gained importance during the pandemic, in addition to the cost reduction and flexibility it offers.
Paper #3 - GLOBAL BEAUTY INDUSTRY TRENDS IN THE 21st CENTURY
- The time-saving products are a response to the needs of today's ever-busy consumers who want to limit the amount of time spent on their daily beauty routine
- Long-lasting cosmetics are perceived to have a good price-value ratio, as they can be used more sporadically than the conventional products. Examples include: long-lasting lipsticks, nail polishes and 24-hour moisturizers in skincare
- What is becoming more and more visible in the global market are organic beauty products – those natural cosmetics, manufactured in accordance to the fair-trade philosophy.
Paper #4 - THE FUTURE OF BEAUTY
- The secret is finding a connection between the micro-trend and macro consumer needs, which are readily shifting
- NATURAL - As with organic food and household supplies, more consumers are becoming interested in natural beauty products
- PERSONAL - The same shoppers who are redefining what healthier, natural beauty products look like are themselves younger, more racially, culturally and ethnically diverse and cosmopolitan consumers
- CONNECTED - As more buyers grow increasingly comfortable with incorporating online channels in their paths to purchase, the opportunity for manufacturers and retailers to connect with them is increasing as well.
Paper #5 - 8 Trends impacting the beauty industry
- The demand for more personalized products and services will continue which means companies must find a delicate balance between standardization and personalization.
- Consumers would like to make a more informed product decision and so enabling this can mean more brand loyalty.
- Fitness and health are prioritized
- Social media has become the new door-to-door for the global beauty industry with more engagement online than ever seen before. Consumer reviews will increase in importance and so greater focus needs to go on the way in which brands facilitate this community feedback and approach.
- Enhancing consumer convenience such as automated re-ordering based on usage may be an opportunity in the future.
- To increase loyalty, brands need to give consumers the ability to feedback and influence and this therefore could mean they become more involved in the product design process
- Product ingredients and where these were obtained will need to be made more available to consumers
- Consumers place greater emphasis on quality, environmental impact, ethics and sustainability.
- Use the data gathered to understand shopper interests e.g. bargain-hunters, vegan enthusiasts etc. and design products based on this.
Paper #6 - 2022’s Beauty Trend Forecast Report
- Retro Hair Revival It’s not just workplaces that are opting for a hybrid model; the infamous ‘70s mullet is making a comeback
- Body shaping continues to offer variety for those looking for a new silhouette. Traditional body contour continues to trend in popularity (up 35%)
- Nail art (up 75%) continues to trend with designs that are more intricate than ever
- Searches for hair Botox were up 22%.
Paper #7 - BEAUTY’S BRIGHTEST TRENDS
- Online or in-store? Beauty retailers of the future will be adapting to the new shopping habits of consumers
- Brick-and-mortar Rebound - consumers will once again be visiting stores to play catchup on the time they were stuck at home.
- Off-Mall Retailers - offering a more curated assortment of products from a variety of categories
- E-commerce to Stay the Leading Channel - Stores are becoming more digitally oriented with a wider adoption of assisted virtual selling tools
- In-person professional aesthetic treatments are making a strong comeback
Paper #8 - The Five 2022 Beauty Trends Personal Care Manufacturers Need to Know
- Trend #1: Consumer demand for ingredient transparency
- Trend #2: Strong appetite for sustainability
- Trend #3: Rising demand for personalization
- At the cutting edge of the industry, personal care brands are using AI and machine learning capabilities to take customer insights to a new level,
- Delivering fully personalized products using valuable information being generated by every customer interaction.
- For instance, skincare brand Atolla is continually adapting its formulations using deep learning technology, while L’Oreal’s Perso at-home skincare and cosmetics device harnesses AI to deliver personal analysis and environmental assessment, combined with customizations to product preference and dispensing methods.
Paper #9 - BEAUTY T R E N D S R E P O R T 2022
- With the increase in skincare knowledge comes a focus on skinhealth, not just skin-care, as the way to great skin for life
Best-selling
- Facial Skincare brands with the biggest growth in sales at Boots this year are science-based brands
- The rise in living costs doesn’t mean we have to revert to buying throwaway cosmetics. Affordable Beauty doesn’t have to mean compromising on quality or our values either.
Paper #10 - 2022 State of Beauty Industry
Paper #11 - TRENDS & INSIGHTS
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