Trends for 2017
Growth in the personal care industry continues! Global beauty maintained growth at over 5% in 2014 despite slight deceleration in two of the largest emerging markets, China and Brazil. All eyes on emerging markets: In the 10 years between 2009 and 2019 the ratio of emerging markets contribution shifted from 41% to exceed parity with 51%. Africa and the Middle East maintained double-digit growth in 2014 despite the political instability in the region.
Skin care forges on to be the largest revenue generator, dominating the key beauty markets, China, Indonesia and North America. Hair care remains the strongest growth contributor in Brazil and India. Customization demand continues including new product formats, textures and functions. There is a growing number of Asia-inspired products and innovation present already in international markets and this so-called “Asianification” trend is expected to grow stronger and deliver more product concepts from the region.
Reinvention in beauty occurs through tapping into a range of niche growth drivers, including lucrative subcategories, consumer segments or regional customization opportunities such as multicultural beauty or tailored hair care ranges in the Middle East to women with veiled hair.
Digital strategies in beauty go way beyond online retailing and they support all aspects of operations online and in-store, from marketing to finance to innovation and distribution.
Travel Trends: Where are spa goers going? What do they want? How to cater to those who are traveling for entirely new reasons than traditional purposes. Where does wellness fall in the category of travel?
2017 Colors and Beauty Trends
Deep, robust colors are in line for Fall 2016! Color and skincare collide, at long last. Lauder has been actively delving into new cosmetics territories. The brand rolled out the Estée Edit, a line of color cosmetics and skin-care products aimed at Millennial consumers, with Kendall Jenner and beauty blogger Irene Kim as the faces. An international trend has been the exploration of color including limited edition lines that appeal to market segment by region of the world or taste preferences. With “aging” becoming a choice rather than a fear, color brands are reaching out across market segments to entice lifestyle metrics rather than the typical breakdown of consumer indexing.