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Get a Glimpse: A Beauty Trend Preview from in-cosmetics
By: Imogen Matthews
Posted: March 13, 2013, from the April 2013 issue of GCI Magazine.
Beauty is constantly affected by new trends. From big explosions like BB creams to the continuing pervasiveness of “green” and “natural” products, knowing what’s pushing the industry forward and what effect that can have on product development is imperative for beauty brands.
During the Marketing Trends seminars taking place as part of the Educational Programme this year at in-cosmetics, which will take place in Paris April 16–18, key issues will be discussed, including the role of water in the industry, beauty products and the environment, new product innovation from Asia, how older consumers are the ignored demographic, and what can be expected in terms of future new product development.
The Big Picture
These days, no conference would be complete without an examination of how the global beauty industry is adapting to unstable world economic conditions. Irina Barbalova, head of global beauty and personal care research, Euromonitor International, will provide recommendations to beauty companies gearing up for yet another challenging year of economic uncertainty.
Barbalova will advise beauty companies, brands and suppliers on how to offer the right mix of quality and value. On the one hand, they should offer upscale targeted solutions with technically advanced formulations, while also developing products with a one-size-fits-all approach for more money-conscious consumers.
The theme of this year’s in-focus feature is H20, and it also includes two roundtable discussions with leading industry experts from companies including L’Oreal, P&G, Afnor and Quantis. Water has become the number one indicator to watch as far as sustainability is concerned, meaning that beauty industry players will be driven to engage in a whole new way of thinking when designing, manufacturing and selling their products. New perspectives in skin care innovation will identify untapped territories in skin biology and identify new innovation routes. And an understanding of water biodynamics will open exciting new perspectives in skin care innovation.
And according to Jacques Sebag, owner of Re-Source!, the water used in personal care formulas is usually demineralized, which tends to be dull and insipid. He advocates the use of vital water, such as mineral waters from thermal spas, which people have been going to in order to treat skin conditions such as eczema, psoriasis and burns since the beginning of the 20th century.
Mintel will use examples from its GNPD (global new products databases), showing products formulated with interesting water sources, such as glaciers and lagoons, mix-it-yourself products that require the addition of water, and the latest beauty drinks and products that promote reduced water consumption.
Product Innovation from Asia
Florence Bernardin, general manager, Information & Inspiration, is a beauty industry specialist focusing on the Asian beauty markets, and she will draw on her expertise to identify the next big trends to come out of Asia that will inspire markets and brands. In Japan, she notes a market with a long beauty tradition that is also used to a speedy renewal cycle of brands every couple of years, boosted by young consumers asking for novelties.
Bernardin also identifies the trend of water in every form, such as in new textures (e.g., mists, jellies, liquids and masks) and application (e.g., lotions, mists, boosters and massage products). She will provide examples of traditional Chinese, Korean and Japanese precious ingredients applied to modern skin care and hair care formulations, and will discuss how beauty drinks are booming in China, Japan and Korea, where scalp care is also becoming the new skin territory. Another key trend to watch is for electric beauty devices aimed at creating perfection, and nomadism.
The Over 50s: A Forgotten Demographic
Mark Beasley, managing director of rhc advantage, has conducted research that shows the over 50 demographic is now too large to ignore. He is commissioning research specifically for the in-cosmetics 2013 trends presentation that will help to explain the myths and realities of this growth demographic. According to Beasley, marketers should re-evaluate their marketing strategy in the light of continued demographic change. His suggestions include:
- Think of individuals, not groups. Do not categorize older people as a single, homogenous segment.
- Do not overtly target older people. They don’t need reminding, so it should be done with subtlety and sensitivity.
- Age is relative. Make sure that your marketing is consumer-driven and not at the mercy of well-meaning younger marketers.
- Follow the money. The over 50s account for 80% of the U.K.’s wealth and disproportionately high levels of expenditure. However, this is not evenly distributed and will not be replicated to the same extent by younger age cohorts.
- There are no “golden bullets.” This is as large, diverse and complex group of people, not a small niche group. There should not be off-the-shelf guidelines.