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Post-recession Beauty Industry Trends
Posted: April 20, 2011
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With 55% of total revenue, Western markets remain important. However a more value conscious consumer has forced companies to add value to their mass ranges. Brand owners have included scientifically advanced technology to mass range products or acquired professional ranges to be distributed in the retail sector to make the most of that “value for money” feeling.
Engaging with Consumers in Western Markets Through New Media
Companies are exploring new opportunities to engage with consumers by increasing Internet and smart phone usage. Social networking, online retailing and consumer reviews are predicted to play an increasingly important role in shaping consumer trends in beauty.
Making Sustainability Part of Brand Communication
Intense competition and greater consumer awareness have put companies under pressure to increase their credentials as good corporate citizens. Brand owners are dedicating efforts to reduce waste, water consumption and gas emission—as well as improving sustainable sourcing, cooperating with ingredients suppliers and packagers to achieve better results.
For Euromonitor's annual “State of the Industry,” be sure to watch for the June issue (online and in print) of GCI