What’s Hot in Premium Beauty: The Latest Trends Breaking at in-cosmetics 2015 - Part One
I've spent this week enjoying the Marketing Trends presentations at this year's in-cosmetics show in Barcelona and thought you might like the inside track on what I've discovered.
Here's a rundown on some of the hottest trends - many travelling from the east to the western markets.
The "Asianification" of Beauty
Euromonitor identified the "Asianification" of beauty as a key beauty trend, referring to the "international demand for brand Korea," especially in skincare and men's grooming.
Asian-inspired formats, textures and product benefits are expanding into international markets, e.g. Neutrogena Hydro Boost Water Gel that draws water into the skin.
In China, women use face masks every day, sometimes twice a day. But as yet, they’ve barely caught on in the UK.
This could be about to change.
Look out for sleep masks for night-time use or sheet masks impregnated with moisture and/or active ingredients making their way into European formulations.
Hair oils are big in Japan, India and Indonesia and are finding new growth opportunities in the Middle East.
Convergence vs. Divergence
Two big global trends (also discussed in this year's Premium Market Report*), see consumers choosing multifunctional products on the one hand and going for a hyper-segmented approach with multiple products tailored to their individual needs, on the other.
In South Korea consumers will often have 8-12 steps for their skincare routine. These include additional new concepts such as boosters, essences and emulsions, all in the quest for smooth, glowing, polished skin.Clarity is an important watchword.
Mintel sees western consumers more inclined to knock out 3-4 steps from their skincare routines to save time and money.
"Most consumers blend these two approaches to create a curated regime," observed Vivienne Rudd from Mintel.
"Increasingly, they will want to know what products can be used together and which cancel each other out. There is a need for clearer labelling and a new beauty language in the future."
The Middle Eastern Consumer
Many Muslim women cover themselves up but have a strong beauty identity involving the widespread use of beauty products.
It's a very young and sophisticated demographic with 40% of the population aged 25 and under.
According to consultancy, Butterfly London, 4 out of 5 Middle Eastern women use fragrance every day. Fragrance represents 42% of the products they use.
They love premium brands which account for 42% of their spend.
But the region is very diverse, say Euromonitor, with Israel and UAE both very strong & mature markets, while Egypt is very small due to its extremely low per capita disposable income.
*Helping you follow the right trends, produce profitable products and validate your most important strategic decisions, the Premium Market Report 2015 launches this Monday, April 20th. Find out what's in this year's edition here.
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