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March2,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
Professional Beauty London 2017: Consumer Interest in Wellness, Natural Products and Social Media is Growing
Source:FungGlobalRetail&Technology
Thisweek,theFungGlobalRetail&TechnologyteamattendedtheProfessionalBeautyLondon2017tradeshow.Hereareourfourmaintakeaways:
1) Topbeautyindustrytrendsincludethecrossoverwiththewellnessindustry,consumers’growinginterestinnaturalproductsandsocialmedia’sincreasedimportancetoconsumers.
2) Thegrowingpopularityofscalpmicropigmentationtreatmentsmeansthatmoremenarelikelytobegettinghair-liketattoosontheirscalpsinthefuture.
3) Thankstothedevelopmentofself-serviceteeth-whiteningmachinesanddisposablewhiteningconsoles,consumersaresoonlikelytobewhiteningtheirteethonthego.
4) Britishconsumersarebecomingmoreinterestedinbuyinglocallyproducedmakeup,andsmaller-scale,localbrandscangeneratedeeperconnectionswiththeircustomers.
ProfessionalBeautyLondonistheUK’slargestbeautyshow,withmorethan800brandsondisplay,alongwithliveshowsandseminars.Itisaplatformforthelatestinnovationsinproductsandservices,andoffersinsightsintoupcomingbeautytrends.TheUKFungGlobalRetail&TechnologyteamattendedtheeventonFebruary27.Welistenedtoseminarsbyinfluentialfiguresinthebeautyindustryandspokewithanumberofinnovatorsandbrandrepresentatives.
IndustryTrends:FitnessCrossovers,NaturalProductsandSocialMediaOneofthemostpopularseminarswasledbyCeriSilk,HeadofBeautyatSaks.Silkdiscussedrecentindustrydevelopmentsandnotedthatthefollowingthemesaredrivinggrowthinthebeautymarket:
• Theincreasingcrossoverbetweenbeautyandwellness:Thebeautyindustryisfindingclosertiestothe$542billionfitnessand“mind-body”market.Silklinked
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March2,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
thistothegrowingprevalenceoftechnologyincosmetics,diagnosticdevicesandwearables.ShehighlightedexamplessuchastheL’OréalUVpatch,thepopularityofFitbitsandtheinfusionofproductssuchasfirmingcreamsintoclothing.Shenotedthattechnologyandbeautyhaveevenbeenintegratedintheformoftravelpaymentcardchipsinacrylicnails.Silksaidthatthemostinnovativebeautycompaniesaremovingintotechnologyandthatthosethatfailtoadaptmaybeleftbehind.
• Theriseofeco-friendlyandnaturalproducts:Consumersarebecomingincreasinglyawareofthenegativeeffectsofsomeingredientsonboththewearersoftheproductsthatcontainthoseingredientsandtheenvironment.Thisknowledge,combinedwiththeirincreasinginterestinhealthandwellness,meansthatmanyconsumersnowexpectproductstohavea“sustainable”promise.Retailerswespoketothroughoutthedayaffirmedthesignificanceofthistrend.
• Theinfluenceofsocialmedia:Bloggers,socialmediacelebritiesandYouTubevloggershaveformednotonlyanewmarketingchannelforthebeautyindustry,butalsoacost-effectiveplatformfromwhichnewtrends,companiesandproductscanbelaunched.Nailart,forexample,isatrendthatisbecomingmuchmoremainstream,largelyduetosocialmedia.Similarly,socialmediahasdriventhepopularityofcertainmakeupartistsandtheirbrands:theCharlotteTilburybrand,forinstance,hasgrownrapidlythankstoitspromotiononsocialmedia.
MoreMenAreSettoGetTattoosonTheirScalpsDanielJohnson,aninternationalmalegroomingexpert,discussedthegrowthofthemalegroomingindustryandshowcasedthenewtrendofscalpmicropigmentation,whichiseffectivelyasemi-permanentscalptattootofillinareaswherehairlosshasoccurred.Johnsonnotedthatthekeydifferencesbetweenthemen’sandwomen’sbeautymarketsarethatmenwantmoreinstantgratificationwiththeirbeautyregimeandareinspiredmorebycelebrities,suchassportsandmoviestars,whilewomentendtolookatbeautyasamoreluxuriousindulgence.
Boththedemandforinstantresultsandcelebrityinspirationarefuelingtherapidgrowthinscalpmicropigmentation.Whilethetreatmenttakesafewhourstoapply,itcanlastuptofiveyears,anditappealstobothmenandwomenwhohaveexperiencedhairloss.Asmoreandmorecelebritieslooktoscalpmicropigmentationasabeautytreatment,taboosregardingmen’shairlossarebeingliftedandthehairloss–treatmentindustryisgrowingasaresult.Johnsonenvisionsscalpmicropigmentationbecomingnormalizedforbothmenandwomenandeventuallybecomingastandardprocedureofferedbybarbershops.
ConsumersCanNowWhitenTheirTeethOntheGoBryanChristie,CEOofMegawhiteExpressTeethWhitening,discussedconsumers’increasedusageofself-serviceteeth-whiteningproductsaswellasthefutureforDIYwhiteningrobotics.Theteeth-whiteningindustryismovingawayfromtime-consumingdentalproceduresandintotheflexibilityofself-service,non-peroxidewhiteningconsoles.Consumerscannowuseself-servicewhiteningtreatmentsthatworkinaslittleas15minutes.Thisallowsamorebespokeservice,asconsumerscancontrolthepowerandlengthoftheirwhiteningsessionatalowercost.
Christiepredictedthatdevelopmentinwhiteningroboticswillsoonmovetoward“whiteningvendingmachines”inairportsandmallsthatwillreleasedisposablewhiteningconsolesthatcustomerscanuseonthego.
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March2,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
BritishConsumersAreLookingforMoreLocalBeautyProductsDarrenWoods,SalesDirectoratXIPProfessional,acolor-cosmeticsfirm,discussedhowconsumerdemandisshiftingfrominternationalbrandstolocal,morenaturalmakeup.Whileglobalcorporationsstillhaveastrongholdonthebeautyindustry,WoodsnotedthattherehasbeenasurgeindemandintheUKforproductsmadelocally.
Woodssaidthatmorelocalfactoriesmeanretailersenjoygreatervisibilityintothesupplychain.Healsostatedthatbyhavingalocalizedtargetmarket,smaller-scalefirmscanpromotetheirproductsinmorepersonalwaysand,so,generatedeeperconnectionswiththeircustomers,becomingclosertothememotionallyaswellasphysically.
• Readersmayalsobeinterestedinournewreport,GenZandBeauty—TheSocialMediaSymbiosis.
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March2,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
DeborahWeinswig,CPAManagingDirectorFungGlobalRetail&TechnologyNewYork:917.655.6790HongKong:852.6119.1779China:86.186.1420.3016deborahweinswig@fung1937.comKatieMarshallResearchAssistant
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