Interest in personalised approaches to health and beauty has surged since COVID-19, as improvements in technology have been met by a more accepting public focused on health outcomes and demanding products that fit their unique goals. Personalisation is becoming a mainstream proposition, as the industry is able to build actionable, quality data more quickly and effectively through network effects and as larger, more established players enter the space through acquisition or investment.
This report comes in PPT.
After years as a niche premium product, personalised health and beauty is closer than ever to extending its offer towards the mass marketplace by taking advantage of iterative improvements to technology and wider consumer willingness to engage with such products.
This broader consumer movement towards interest in personalisation derives from the demands brought about by COVID-19, especially around the centralising focus on health outcomes, lifestyles and nutrition. In this way, the COVID-19 era has provided the foundation for a more mainstream version of personalisation.
Mass-orientated products are deepening segmentations by age, gender, race/ethnicity and hair and skin types, and personalisation only deepens the range of possibilities, with ample opportunities to attract consumers across a range of traits and ethical considerations.
As personalisation moves closer to the mainstream, greater distance will be placed across the spectrum of these products, with basic segmentation and simple diagnostics available to most, with more innovative and sophisticated personalisation approaches such as biologics/genetics in the premium offer.
Recent acquisitions by companies like Bayer and Nestlé and investments by companies like Beiersdorf, L’Oréal and Sanofi allow personalised products to sit closer to mass-orientated portfolios and provide them with greater access to the scale, marketing and R&D that will likely sustain a wider audience moving forward.
It is the aggregation of OTC, Vitamins and Dietary Supplements (VDS), Sports Nutrition, and Weight Management and Wellbeing
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