Market intelligence agency Mintel announced four trends that the firm predicts will impact the global beauty and personal care market in 2018.
1. Biotechnology, together with a resurgence of local wisdom, will help brands face up to the challenges created by environmental issues.
2. As consumers across the world are creating their own definitions of beauty, which look beyond age, gender, and body type, brands that try to appeal to the ‘mass’ will miss the mark.
3. Beauty consumers won’t just want to look good, but feel good too, by going beyond the logo and investing in brands with a personality and purpose to perform good deeds.
4. Beauty brands will be watching consumers’ every move, as digital technology drives unprecedented customization of the shopping experience.
Sara Jindal, senior innovation and insight analyst from beauty & personal care at Mintel elaborates on the trends report findings. About the first surprising biotechnology trend, she explains, “Mintel predicts that the beauty and personal care market will experience a fundamental shift during 2018. In the coming year and beyond, the beauty industry will navigate the conflicting demands of the 'naturals-hungry' consumer with shrinking natural resources, and it will be through harnessing biotech advantages that a new generation of enhanced natural products is created.”
Inclusivity will be requisite she explains about the second trend on personalization, “Meanwhile, personalization is set to reach new heights as brands strive to embrace total inclusivity.”
Elaborating on how brands will need to clearly communicate their values, she says, “When it comes to ethics, it will be imperative for brands to have a personality that is genuine and a viewpoint that clearly communicates their positioning.”
And last, on customization of the shopping experience, she says, “Finally, developments in biometric monitoring will see brands drive unprecedented customization of the shopping experience."
For a full report, visit www.mintel.com.