Thanks to emerging markets, color cosmetics are outselling all other beauty products
According to Euromonitor, a leading market research firm, color cosmetics are enjoying a huge coup across Europe, the Middle East, and Africa.
In the latter two regions, three principal shifts are responsible for this:
Chinese women are increasingly turning to domestic brands
The top ten players in China’s domestic beauty market are slowly gaining ground, up a percentage point from 2011 to 4% of the market’s value share in 2015. This is attributable to three factors:
First, its market development has shifted from urban top-tier cities to second- or lower-tier cities. Additionally, manufacturers have gained an increasing appreciation for the importance of brand-building. Their advertising efforts, including forays into popular reality television shows, have been paying dividends.
Finally, the consumer is maturing in terms of how they view domestic brands, which used to be considered inferior in both ingredient quality and design. Many brands’ inclusion of herbal ingredients, along with an increased appreciation for a Chinese national identity and pride, has contributed to this trend.
Speaking of the Far East, an increasing trend to watch in 2017 is the use of ingredients in beauty products that are borrowed from traditional Chinese medicine.
Multi-level marketing company Amway is working to infuse TCM into its products. As Jia Chen, vice president of the Amway Botanical Research Center, explains in the company blog, “TCM is really a life philosophy. It’s about your diet, it’s about nature and the spirit, it’s about the way you treat your health and life.”
TCM for beauty is also gaining ground in Asia as well as the United States. Chinese consumers, rather than searching out the latest fad, are increasingly turning to traditional remedies for healing and protecting the skin.
Cost remains a factor in terms of where consumers buy.
As we stated in our TABS Analytics 2016 Beauty study, a large number of women admit to splurging on beauty products. Andrea Van Dam, CEO of Women’s Marketing, Inc., cited her own studies that indicate women will happily pay a premium for quality beauty products, provided there’s a certain minimum threshold of efficacy.
But according to recent Harris poll, while price may be only a limited factor in determining what women buy, it’s a huge factor in determining where they buy. This data shows a huge propensity to comparison shop for the best possible price.
Your skin will thank you!
An emerging trend from beauty gurus in South Korea is the concept of guarding your delicate skin against the harmful effects of pollution. You see, in addition to giving your skin a grimy look and feel, air pollution can trigger free radicals, leading to premature ageing and general irritation.
Fortunately, a number of products have
Next to sun exposure, pollution is the #1 cause of free radicals on the skin. You can expect more solutions on the market to combat the effects of polluted city living.
“Organic” and “Natural” Top the List
Due to market demand, the use of so-called ethical ingredients is exploding in the beauty industry. There are now over 20 different labels representing various levels of ethical, natural, sustainable, or safe that work to assure consumers that the products they put on their bodies do no harm. Such labels project an aura of social responsibility, touting safety as well as friendliness to both the environment and local economies.
Ethical products are also gaining ground. For example, the Halal label is vital in Asia, a continent that is home to over one billion Muslim consumers, and many if not most of these women demand products made from ingredients that conform to Islamic law.
As the various labels become more mainstream, one remaining question is whether they will continue to proliferate, or if standard and regulations will lead to some sort of harmonization. Time will tell.
There’s a growing body of evidence to support the notion that anti-bacterial products tend to do more harm than good. In the past year, the US Food and Drug Administration forced anti-bacterial soaps off the market entirely.
Most human beings have, at best, a mixed relationship with those tiny organisms called bacteria: bad on your hands, but good in your yogurt.
Bacteria are everywhere, both within your body and without. For years, the conventional wisdom was that bacteria was almost universally bad, and products that flushed it off your skin flourished. Thankfully, consumer products have now caught up with the science has been saying for years: our bodies need beneficial bacteria for health. These “good” bacteria foster a healthy biome by fighting off all those illness-causing “bad” bacteria that for so long gave all of them a bad rap.
Companies like AO Biome is releasing a bug-friendly product line called Mother Dirt, which fosters the growth of Nitrosomonas eutropha, a special beneficial bacteria that oxidizes ammonia. Users report requiring far fewer showers and shampooings, a boon for those concerned about all the chemicals in their beauty products.
Probiotic-containing care products have also shown promise in the areas of treating acne and reducing ageing of the skin. Manufacturers claim that the best part of this process is that they now have a natural ingredient that offers efficacy formerly in the sole domain of synthetics.