The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreJul 2020
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Digital disruption in beauty and personal care will continue to accelerate globally due to the Coronavirus impact, which sets the tone for “digital” to become a dominant means of beauty industry participation over the forecast period. The core values of the Digital Beauty Consumer, a consumer type segmentation in Euromonitor’s Beauty Survey, will be redefined in the image of healthy living, personalisation and clean to conscious beauty.
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Pre-pandemic, the beauty and personal care industry already experienced the disruption of digitalisation. Significant ramp-up is expected across all regions to include livestreaming investment in China and North America, shoppable social media in markets where technology was not previously available, usage of mobile messaging services for beauty product fulfilment in Latin America, and continued beauty app dominance in Asia Pacific. Coronavirus (COVID-19) sets the tone for digital becoming a dominant means of beauty industry participation.
COVID-19 is expected to streamline and simplify digital beauty consumers’ routines, while also encouraging a greater willingness to experiment during home seclusion cocooning. Financial impact from COVID-19 also contributes to a re-evaluation of efficacy versus price and ingredient safety versus price among digital beauty consumers.
Health and beauty will continue to converge, with the added layer of mental and emotional wellbeing. For the digital beauty consumer, digital tools will be leveraged to a greater extent to be used to meet, track and enhance wellness goals, as well as provide a salon- or spa-like experience in the home.
Personalisation will be less of a priority during the immediate outbreak, but in the short term will be key in providing guidance for underserved consumer groups (ie men’s beauty segment) and as a complement to clean beauty.
Ethical and sustainable practices among beauty players will still remain top of mind, but will evolve into a greater push towards conscious beauty, driven by digitally-savvy consumers pushing for accountability and brand purpose beyond profits.
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