美容美髮Business News

Home/Business News /Business News list
The Biggest Trends In The Beauty Industry -2
Source:https://www.forbes.com/ From:Taipei World Trade Center Liaison Office in Chennai Update Time:2018/12/06
The
Source and URL, etc. https://www.forbes.com/ https://www.franchisehelp.com

The beauty industry has been on a tear for years. There are some submarkets that are exceptions, like the mass beauty markets, but overall the business of beauty continues to defy gravity. Even multibrand stores, which in other consumer sectors have a questionable future, are performing. Stefano Curti, global president of Markwins Beauty Brands, pointed out to me that half the growth in beauty is online. But that implies that half the growth is in stores. It’s hard to find another market segment where that’s true.

There are three unique circumstances that continue to prop up the beauty industry:

1.Consumers, mostly women, are on a journey of exploration. They are enjoying new products and finding new brands. This is part of a larger generational shift of younger consumers rejecting the large brands their parents preferred and seeking out locally-made, artisanal, natural products in all consumer categories. The need to be Instagrammable at all times also helps.
2.Young, independent brands (great examples are listed below) are supporting a surge in creativity. It seems like every day there is a new brand with a new idea about how to become or remain beautiful. Entrepreneurship is boiling over in the beauty industry. These young brands are supported by the physical retail beauty channel.
3.Acquisitions by the major beauty companies of ever-smaller companies at very high values are drawing in more founders and driving more creativity every day. The acquisitions are taking place because the big beauty brands are threatened by the young, independent brands that consumers want now.

This set of circumstances, or something close to it, has happened before in other consumer sectors. It never goes on forever. It’s been running for a long time in the beauty industry and while it is certain to end at some point, there’s no telling what will make the bottom fall out or when that will happen.

An industry consultant and L’Oreal alumna, who told me there are four major trends that the fastest-growing, young brands are taking advantage of now:

The Instant Fix: This refers to the age-old desire for instant gratification, focused on the skincare segment. Products that allow a consumer to see immediate improvement in bags or lines or brightening are often in this class.
The Doll Look: Using heavy makeup or surgery to create a look is more porcelain-like, smooth and perfect. It doesn’t aspire to be natural-looking — it’s about flawlessness and it’s taken deep root in the makeup and hair businesses. Most recently, L’Oreal acquired my firm’s client, Pulp Riot Hair, in a perfect example of the trend.

Skin Care From The Earth: The skin category continues to explode with more natural, clean and even food-standard products. There is a perception that skin and mind are linked and there's a connection between skin care and wellness. It’s the opposite direction from where makeup is going.

Customization and Personalization: Using data and customer input to create products for a universe of one is a new form of luxury.

There’s a conference in New York at the end of this month called Beauty & Money that crystallizes all of the above trends. Beauty & Money puts investors and young beauty companies together. In advance of the conference, the organizers ran a competition with a panel of beauty industry experts to choose 12 startup stars. All those companies fit into the above trends.

As it turns out, it takes a lot of effort to keep us looking and smelling our best - an absolute army of products and services, in fact. Cosmetics, skin care, hair styling, hair coloring, hair removal, nail salons, tanning salons, massage parlours and luxury spas, shower and shaving product, perfumes, colognes...and a whole lot more.

And that’s where it starts to get interesting - within each of these segments are products for every different skin tone or texture, allergy, age, hair type or color, sex - even the time of day! It is a level of diversity and nuance that may go unnoticed to the casual observer. Some of us, in fact, are overwhelmed by all those rows of shaving cream.

But increasingly we are the minority - most consumers care, are discerning, and will try a number of different products before finding something that works. Once they find it, however, brand loyalty - whether for a shampoo or a particular salon - is extremely strong.

 

Source and URL, etc. https://www.forbes.com/ https://www.franchisehelp.com