Article by: Perry Romanowski
Euromonitor is a market research company who covers the beauty market. They put together a white paper suggesting some trends that will be popular in 2015. Here is the list. You can get the full report here.
1. Buying convenience – Consumers are finding it easier to buy products online or through their phones. Beauty brands need to have online distribution to be successful.
2. Brand activism – More brands are tying in some social good with purchases of their products. This might be a good way to grow a new beauty brand. Find a cause that people will care about.
3. Vloggers and Bloggers – They are going to have an even bigger impact on what people buy in the coming year.
4. Sharing consumers – I’m not sure how this will play out with cosmetics but perhaps a company can buy in bulk and sell to groups.
5. Malls build communities – While online purchasing is going to increase shopping centers and malls are gearing more towards being a place for people to gather. Big brands can’t ignore retail opportunities.
6. Millenial purchasers – There are 2.6 billion of them and they’re going to start buying. Better have some cosmetics for them to purchase.
7. Consumers demand privacy – Not sure how this will affect cosmetics.
8. World shopping – With online purchases people can buy cosmetics from around the world. All brands will be global and might have to adapt to local regulations.
9. Virtual reality – This is going to grow in 2015. Perhaps people will be able to virtually design their own cosmetics and have finished product sent to them.
10. Focus on well-being – Consumers will be more focused on their health and monitoring it, especially using mobile apps. This should be good news for brands positioned as healthy.