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.
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.
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.
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.
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.
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.
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