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Experience More: The Beauty Industry Adds New Dimensions Across the Value Chain

January 2017

Experiencing more through physical action, emotional connection or meaningful memories is a trend making its mark across the beauty and personal care value chain; from product, to store execution, to the purchasing process. In emerging markets consumer priorities lie in recreation and social impact and in developed markets it is instant gratification and novelty that beauty consumers pursue. In response, brands seeking long-term loyalty are transforming into one-stop lifestyle providers.

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Emerging markets lead trend for experiencing more

Consumers in emerging markets show greater preference than their developed market counterparts for window-shopping, leisure and recreational time, with physical stores a hub for community and discovery.

Digital connectivity breathes new life into archaic models of distribution

Both direct selling and homeshopping benefit from on-demand apps, live video streaming and social networks, as they reinvent the meaning of community and thrive on the back of the gig economy.

Pressure grows at the checkout

The purchasing process is gaining significance in beauty, particularly in colour cosmetics, as fans become frenzied similar to die-hard fashionistas or music fans. New models of selection and delivery offer instant gratification, and those that do not, exploit the hysteria and waiting-game by making it an experience in itself.

Novelty and relaxation key areas for concept-building

As a health-aligned industry, beauty and personal care is in a prime position to weave wellness into brand strategies, product formulation, product marketing and store concepts, but not online. However specialists in health and wellness equally pose a threat to the industry by leveraging their expertise to create self-branded consumer products.

Strong social ethos critical to conjuring meaningful brand-consumer relationship

Immersive technologies such as augmented and virtual reality, and multimedia, including video and podcast, emerge as critical platforms for brands to showcase their identities and sustainable practices; appealing to the socially-minded but visual Millennial consumers.

Introduction

Scope
Key findings

Shopping Reinvented: Environment

Technology turns beauty specialists into beauty destinations
Experiential retailing has potential to win big in emerging markets…
…but stores remain up against a practical and hurried consumer group
Subscription boxes require stronger identities
Can the sharing economy in beauty achieve disruption?
Case study: Dharmash Mistry, CEO and co-founder of blow LTD
Spearheading experience as a means to possession
Social revolution gives direct selling new lease of life
QVC taps into “second screen” phenomenon with Beauty IQ

Shopping Reinvented: Selection

Higher earners need convincing to spend more time in-store
Sephora: An intuitive digital pioneer
Aussie spearheads the revolution of peer-to-peer reviews

Shopping Reinvented: Purchase

B eauty mimics online grocery delivery’s winning strategy
Artificial intelligence instantly gratifies
Make-up purchasing becomes an experience in itself
See now, buy now movement infiltrates beauty

Experiencing More Through Wellbeing

In-store escapism to benefit from digital detox trend
Beauty retail looks to relaxation to increase dwell time
Active lifestyles demand performance beauty
India a wellness mecca
Disruptive potential for local wellness experts?
Facial devices increasingly taking experiences home
Wealthy opt for novelty in electronics, while for the frugal there’s DIY
Holistic routines spur ancillary category activity

Experiencing More Through Authenticity

Penetration of ethical labelling not reflective of demand
Lush commits to media for a fully transparent customer experience
Immersive technology can offer a window to social impact
De-branding to heighten sensory experience
Make-up loses its mark-up

Future Prospects

Leisure expenditure reveals where experiences may be most valued
Experiential trend impact on beauty and personal care industry

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