In its most recent report, the market research firm identifies five trends that are reshaping the shape of the cosmetics industry. On the agenda: budgetary arbitrage, the quest for scientific proof, the search for longevity, immersive loyalty and the desire for sustainability.
Recession Glam
Against a backdrop of inflation and global economic uncertainty, women consumers are making more rational choices. They are looking for brands “that offer quality without compromising their budget,” observes Euromonitor. “The consultancy speaks of a “shift towards more thoughtful consumption, a more measured, less impulsive consumption, guided more by the search for good value for money.”
Reactions to rising prices take many forms. Customers switch from the high-end to the mass market, stock up during promotions or join loyalty programs to earn rewards. “This price sensitivity encourages brands to better justify the value of their products.”
Clinical Confidence
Demand for clinically-validated skincare products continues to grow. “Consumers are increasingly attracted to ranges with a scientific positioning,” analyses Euromonitor. “They trust brands that rely on medical validation, tangible evidence, measured results and expert recommendations.”
In this context, dermocosmetics is a fast-growing category. “The use of these products has risen sharply worldwide. The alliance between science and effectiveness meets a strong expectation: to see the skin as an organ to be treated, not just beautified.”
Healthspan Plans
Beauty is now at the service of aging well. The quest for longevity is gaining ground in the skincare world. “Beauty …
