In a post by Ina Woitalla, Mintel targeted China’s beauty markets for growth through the increasing exposure of multipurpose beauty products.
Woitalla writes, “As China begins its New Year, Mintel predicts that there will be one trend in beauty that will prevail—hybridization, or as Mintel has coined it Mixologiste. Although Chinese consumers still largely favor a more natural approach to beauty, 71% believing that a good diet and enough sleep are important for keeping their faces in good condition, there is product innovation potential for beauty products that overlap the qualities of color cosmetics, skin care, fragrance and hair care.
“With the global success of BB creams in 2013, consumer demand in China is strong for multifunctional beauty products, with nearly half (46%) of makeup users claiming they are interested in products with multifunctionality (such as 2-in-1 eye-shadow and blusher). Showing the potential to expand this trend through to other categories, almost four in ten (37%) agree that they would like to try makeup products that incorporate skin care benefits. Jane Henderson, global president of Mintel’s beauty and personal care division, comments, ‘The success of hybrids such as BB creams has inspired manufacturers to explore different ways through which they can bring categories together to create something exciting for consumers. Instead of cannibalizing sales, these products are acting as add-on products and not simply replacement products.’
“Much of this demand for multifunctional products is driven by their ease of use and cost-saving benefits, with a third (34%) of Chinese consumers claiming that purchasing a product with multiple functions is more economical than buying numerous products separately. Hybrid products are also a way to move consumers up the price ladder. More than four in ten (42%) Chinese consumers think it is worth paying more for specialized facial products such as whitening serum or concentrate that offer a higher effectiveness, and 40% would change their makeup brand in favor of one that offers additional functions such as whitening or UV protection,” Woitalla concludes.