The Future of Beauty
More than nearly any other fast-moving consumer goods (FMCG) sector, the beauty industry is guided by trends. And over the last few years, multiple trends have emerged with the promise that they will redefine the future of beauty. From balayage to activated charcoal, it seems like the next big thing can come from just about anywhere. And while that’s more true than ever, how are you supposed to know when something really is a thing, and when it’s just a flash in the pan?
The secret is finding a connection between the micro-trend and macro consumer needs, which are readily shifting. Because, while we’re in the midst of a great proliferation of brands, products, services and, yes, trends, the new shifts creating sustained growth opportunities for brands and retailers are really nothing new at all.
Beauty is Going Natural
In 2017, products featuring natural claims represented 3.1% of the U.S. personal care market, generating $1.3 billion in annual sales last year. That’s up from 2.1% of the market in 2013 (representing sales of $230 million). Comparatively, beauty has been slower to go natural (natural products currently make up 1.4% of the market), but sales are growing quicker than in personal care.
For more insights on the future of beauty, watch the recording of our Future of Beauty webinar.