The COVID-19 pandemic and inflationary environment since 2021 have given rise to the Generation Z (Gen Z) beauty consumer’s tendencies towards price sensitivity, individualistic expression, active participation in user-generated content and phygital spaces. Read on to find out more.
The retail tissue in industry in Turkey is facing significant challenges given the hyperinflationary forces impacting the economy. Growth opportunities will largely be driven by private label or value for money products, as shoppers trade down and turn to discounters. Euromonitor International predicts decreasing volumes for products such as kitchen towels and paper tableware, as consumers cut back to only the necessities, even as the country’s population has grown. As such, brand manufacturers will need to look to local production and promotions to keep their pricing competitive.
Hair care was one of the weaker performing beauty and personal care categories throughout the COVID-19 pandemic. Lockdown restrictions throughout 2020-2021 altered consumer habits with fewer social occasions leading to reduced usage of styling agents and shampoo.
With inflationary pressures top of mind for consumers heading into the holiday season, promotional campaigns are critical for companies, but aggressive discounting can cut into already thinning margins as well as dilute brand image. With Euromonitor International’s e-commerce tracking tool, Via, online data for stock keeping units (SKUs) can easily be analysed to identify trends in the market and provide key recommendations.
The health and beauty industry is fast-moving and highly saturated. Understanding changing consumer opinions and the behavioural indicators behind global trends is integral to securing the success of any company or brand within the space. The insights gathered by Euromonitor International's Voice of the Consumer: Beauty Survey 2022 give a comprehensive view of how consumer preference has changed, based on different variables.
Paradoxically, despite the intensive movement towards healthy lifestyles, the global population is getting increasingly unwell. Improving the quality and reach of healthcare and containing health risks might curb global health deterioration in the long term. Yet, as health is multilayered and complex, tailored and personalised approaches might be more effective in the short to medium term. This article aims to formulate the top four health strategies using the survey answers and demographic data by four generations: Baby Boomers, Generation X, Millennials and Generation Z*.