The UK cosmetics and beauty market is expected to experience solid value growth during the forecast period. Despite the economic uncertainties of Brexit, the UK cosmetics and beauty market expects huge growth during 2022. Here are some of the latest trends that we expect to see in the upcoming year.
A key trend that we expect to see in 2022 is companies and consumers moving towards more natural and plant-based skin products. We are already seeing companies take a more sustainable approach to packaging and ingredients. According to linchpinseo.com, skincare is the next area that will see a big evolution in minimizing its carbon footprint.
What are some of the reasons for brands moving towards plant-based skincare products?
With the rise of COVID-19, the need for improved hygiene and cleanliness has become a priority. Industry experts expect this trend to continue even when the pandemic is eliminated. Due to the increase in the use of hand sanitizer, beauty brands see an opportunity in this market and have started to offer luxury products, such as sanitizers and soaps.
Consumers are looking for brands that are willing to be transparent. We have entered a new era where ingredients used in products have become more accessible. People demand to know what they are applying to their skin. This shift has motivated brands to sign up with third-party labs to provide transparency on skincare ingredients. Furthermore, this trend will have a massive impact on the market in 2022.
According to Jennifer Goldfarb, co-founder of Ipsy, leveraging big data is the “next big idea in the beauty community”. Brands that will get a leg up on their competition, are the ones that can engage with their customers, their fans, followers. This is in order to bring them to their brand. How can this be accomplished? Big data is collected through search term data, consumer behavior, and questionnaires.
According to Yieldify, Olay was able to inject new life into their brand by implementing an online strategy into their workflow and developing a greater understanding of what their consumer base needed.
Especially now, in a more data-driven world, customers are more willing to interact with their chosen brand if they genuinely feel that their requirements will be met.
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