Report: How consumer demand for beauty and personal care products will change in 2023

What consumers demand from their beauty and personal care products will continue to evolve in 2023, and data gathered by market intelligence company Mintel suggests that technology will play a key role.카지노사이트

The 2023 Global Beauty and Personal Care Trends report, which is the result of workshops comprised of a team of beauty and personal care analysts around the world, identified the “medicalization” of beauty, evolved self-care and disruption in the beauty category as trends to watch.

The predictions were based on consumer data from 36 global markets, product launches and Mintel analytics.

The medicalization of beauty

Beauty brands will continue to invest in technology, and advances in biology will lead to the next generation of products.

Genetic sequencing and advances in diagnostics and wearable devices could have big implications for the beauty industry, the report said, with opportunities in hormones, health risk and diagnosis, wearables, 3D printing, personalized vitamins and supplements, and gene editing.

Evolved self-care

Consumers embraced at-home wellness and self-care routines during the pandemic, and although they will have less time to spend on beauty as the world returns to normal, they will still look to cosmetics to lift themselves up. The “lipstick index” — a financial indicator that uses cosmetic sales to forecast bear markets or recessions — shows that sales of lipstick rise in times of economic uncertainty as consumers look to find simple, inexpensive ways to treat themselves, so cosmetic sales are expected to weather a global recession.

Interest in wellness offerings is on the rise, analysts found, with identity, representation and body positivity-geared marketing changing the way consumers see themselves. Beauty companies also will focus on a combination of holistic habits and products, targeting sleep and blood circulation and their connection to beauty.

The concept of community self-care will gain popularity and will apply to everyone, regardless of age, gender or life stage, with topics including hormones, periods and hot flashes becoming more socially acceptable.바카라사이트

Disruption in the beauty category

The report said that brands should embrace disruption to create new rules for engagement and building communities, allowing for more playfulness, experimentation and DIY beauty.

Because shopping behavior shifted during the pandemic, brick-and-mortar stores need to be engaging, fun and exciting, it said. Direct-to-consumer brands that thrived during the pandemic will be forced to evolve to remain relevant, and technology will drive experiences from RFID (radio-frequency identification) to digital avatars and the metaverse.

Augmented reality (AR) will continue to provide “phygital” (physical and digital) experiences, and analysts said the technology will eventually dominate the way consumers discover, shop and connect with brands.

“Brands must anticipate significant changes in consumer expectations and behavior, with technology influencing the way consumers and brands engage with one another,” the study says. “While the rules of the metaverse are still being worked out, its strengths lie in the communities that it builds and how people engage in them. Just like gaming has done with games like Roblox and Minecraft, leveraging social interaction will be key for brands.”온라인카지노

Similar Posts

Leave a Reply

Your email address will not be published.