Why consumers are opting for a simpler approach to beauty this year
The beauty landscape is changing, with physical appearance no longer a defining factor of beauty, according to Euromonitor International’s Voice of the Consumer Beauty Survey.
The survey found that consumers now perceive “beauty” as looking healthy, being comfortable in your own skin, and embracing yourself as values move towards a more authentic approach.
When it comes to making purchases, consumers are focusing more on products with functional benefits, the report found, as they look to ingredients, formulation, and product effectiveness rather than purchasing products that are on-trend. As a result, brands that have created authentic connections and experiences are more likely to resonate with customers and have long-term success.
Consumers are also prioritising prevention and protection when it comes to health and beauty returns, focusing on skincare, balanced diets, and active lifestyles to achieve this, as self-care and wellness boomed during the Covid-19 pandemic.
Consumer’s desire for scientifically formulated products that are safe, effective, and transparent have also been the reason behind the increase in the demand for pharma, lab and dermocostmetic brands in the skincare industry.
When asked their reasons for turning to these types of products, consumers reasons included: that it was for health and skin benefits (15%), because the products were recommended to them by professionals (12%), and because the products were more effective than non-dermocosmetic products (8%).
The shift towards a digital lifestyle since the pandemic has also been evident in the beauty industry, with 36% of consumers identifying as “digital beauty shoppers”, purchasing cosmetics and skincare products through online retailers. This type of shopper also turns to digital media, user-generated and expert generated content when shopping for and using beauty and personal care products.
Beauty apps have also seen a spike in usage in the past two years, as users seek more information about products than they did before, searching for ingredients and reviews. More than a fifth (21%) of users turn to apps for product information, with 11% using the apps to “try” a product virtually before making a purchase.
Read Euromonitor International’s Voice of the Consumer Beauty Survey. The report surveyed over 20,000 people across 20 core markets.
Co-writers Aiste Kriaucinaite and Amrutha Shridhar, stated in the report that "the definition of beauty continues to evolve as consumers become more well-versed in their beauty needs and acknowledge that one size does not fit all."
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