The global beauty market is expected to reach 756.63 Billion by 2026 according to a report by FIOR markets which covers the forecast period of (2019-2026). The growth of the beauty market on a global scale is due to a multitude of factors—including the growth of other countries which have burgeoning markets for brands to get involved with. However, today we’re going to hone in on 3 particular beauty trends which are shaping the modern cosmetics market for consumers.
1 – The Sampling Experience
Whether you are selling products in a brick and mortar store or are looking at a brand that markets exclusively online, letting customers try your product is a crucial part of brand marketing nowadays. Almost every brand looking to make it and win dollars over the giants of the beauty world should understand the importance of having sample packages available for their products.
While marketing is incredibly important, if you are confident in your product, it’s only natural to let the product speak for itself. Letting customer’s sample your product sends a message that the company is not hiding behind marketing or smokescreens. If you require assistance formulating products that are created with safe and sustainable ingredients by experienced chemists with years of experience in the beauty industry, look no further than Phoenix Chemical!
Brick and mortar stores certainly have the advantage of being able to offer product demonstrations on the spot, ecommerce brands have an edge in pricing in many cases but often have trouble getting customers to trust the brand through reviews alone.
Since many major beauty brands have sprung up from the roots of the ecommerce market, sampling deserves a place on this list as a trend that has received extra emphasis as of late.
2 – Social Media Content is King
Marketing gurus and associates have likely heard the term “content is king” ad infinitum in the past decade. However, as often repeated as it is, it is also true. In the beauty realm, it’s not just content in general which is most important, but social media content which is of the utmost important.
We covered in a prior post how having savvy social media presence can jettison small brands into the limelight. This is because beauty is uniquely driven by ethos—or a company’s mission and story. What better way to demonstrate the integrity and story behind your products than by embodying those ideals and representing those in the down-to-earth trenches of social media platforms such as Instagram and Facebook?
Social media platforms are at the heart of viral marketing. These advertising spaces have more worth than traditional television spots when it comes to appealing to younger demographics. Many businesses have realized that partnering with exceedingly popular “influencers”—or social media accounts with high engagement and a large following, they can more effectively reach an audience with the endorsement. It is the modern version of celebrity endorsements.
3 – Natural and Sustainable Products are Growing in Demand
People want to have their cake and eat it too, and in this case, it’s a great thing! Phoenix Chemical also believes that good beauty products should also be safe to use without any dubious ingredients as well sustainably sourced. Sustainable sourcing means that increasingly, companies are looking for ways to create a potent product that can be sourced from something which is renewable. Many small companies have the edge here as just because something is all-natural doesn’t mean that obtaining it in large amounts is easy.
Huge beauty brands have a difficult time providing all-natural ingredients on the scale that they ordinarily operate. This uniquely positions smaller businesses to leverage a market opportunity that large corporations have limited ability to.