Euromonitor International Beauty Survey 2018 –Priyanka Badge
Consumer beauty preference continues to evolve alongside changes in demographics, spending power and broader megatrends impacting habits world wild. While this evolution offers opportunities for brands to capture new customers with innovative products, it is crucial that both marketers and product developers not lose sight of the deeply – rooted motivations driving beauty product purchases.
Most consumers connect “beauty’ with health, hygiene and comfort in their own skin. even further, some consumers are turning to dermo-cosmetics, products blending beauty and science, for effective solutions at a premium price.
Key Findings –
What does “beauty” mean to you?
Beauty is big business. In 2017, global sales of beauty and personal care products crossed USD $460 Billion and are set to grow by 65 in 2018. But what are consumers seeing to achieve with all the time and money they spend on their appearance?
For many, “beauty” is a mix of external characteristics such as looking healthy and general hygiene and cleanliness, combines with internal intangibles such as being comfortable in one’s own skin and inner confidence. Indeed very few link stereotypical associates such as glamour and status with the definition of “beauty”, although perceptions vary widely based on geography and demographics.
1. Looking healthy
3. Being comfortable in your own skin
4. Inner confidence
5. Looking presentable
Side note (Audrey Anderson) – for me that is exactly why my skincare regimen is so important it is to look healthy with healthy skin, it helps me being comfortable in my own skin, and I am confident from the inside to outside.