The Future of Color Cosmetics: 2024

The Future of Color Cosmetics: 2024

The Mintel’s report discusses the future of color cosmetics, highlighting the impact of fast-moving online trends and evolving beauty standards on consumer behavior. It recommends strategies for brands to address the growing demand for simplicity, convenience, and personalization in makeup routines, while also leveraging the "treat culture" and the increased interest in sustainability and local adaptation. The report also emphasizes the need for makeup brands to adapt to changing beauty standards and address the new "face" of consumers.

Addressing the Demand for Simplicity and Convenience

  • Consumers are seeking simplified makeup routines that can be easily and quickly recreated, driven by the popularity of short, sharp tutorials on social media.
  • Brands should innovate in time-saving, multifunctional products and tools to help consumers achieve on-trend looks efficiently.
  • Leveraging AI and technology can simplify the consumer journey and drive loyalty by providing personalized product recommendations.
  • Expanding claims around convenience, such as in primers, bronzers, and eye products, can address the growing demand for easy-to-use makeup.

Capitalizing on the "Treat Culture" of Makeup

  • Consumers perceive makeup as a discretionary category, presenting opportunities to create new spending occasions by leveraging the sensorial experience and emotional connection.
  • Brands can elevate the product experience by focusing on scents, ingredients, and collaborations that bridge the mind-body connection.
  • Expanding into the super-luxe segment and providing exclusive experiences can drive loyalty and new spending opportunities.
  • Leveraging high-spend occasions, such as weddings, and offering personalized memorabilia can create additional revenue streams. Addressing Evolving Beauty Standards and the "New Face" of Consumers
  • As more consumers prioritize skincare routines and cosmetic procedures, makeup brands should innovate to deliver surgery-like results and work alongside these treatments.
  • Developing "surgery-friendly" makeup and products that create the illusion of non-surgical enhancements can help re-engage consumers.
  • Incorporating the next generation of anti-aging ingredients, such as exosomes, can support medical aesthetic treatments and promote skin regeneration.
  • Promoting healthy beauty standards and helping consumers express their individuality can address the shift away from "perfect" beauty ideals.

Driving Sustainability with an Ingredient-Led Approach

  • Consumers are paying closer attention to makeup ingredients and not just packaging, driving the need for brands to take a more holistic approach to sustainability.
  • Leveraging green chemistry principles, new sustainable ingredient alternatives, and increased supply chain transparency can build brand credibility.
  • Adapting makeup to local climate challenges and needs, such as with protective and cooling claims, will become increasingly important.
  • Sustainability is a universal demand, and brands should anticipate future scrutiny around ingredients and environmental impact.

Source: Mintel

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