Consumer priorities with regards to beauty are changing. This is in terms of what constitutes beauty, but also in terms of the rising importance of looking good in an increasingly visual world ‒ and the fact that this mindset has migrated into consumer groups that previously gave personal appearance and grooming a much lower priority.
In addition, the environmental impact of the beauty industry is increasingly coming under the spotlight. Every aspect of the industry, from the sourcing of ingredients to the packaging involved and production and distribution cycles, will have to be optimised from an environmental standpoint and this will put pressure on the industry to innovate, ideally without compromise on profit margins and market shares.
Bearing all this in mind, we thought it timely to review the industry from the perspectives of both consumer and supplier. We share compelling new research that highlights six broad themes of change and identifies sub-trends within each theme. We close the report with some thoughts on how various aspects of business practice will be challenged to respond to this new reality. We hope you enjoy the read.