For beauty products retailers, the UK beauty and personal care market is worth about 16 billion euros. This is a growing market, with sales expected to reach about 16.8 billion euros in 2020.
However, this growth masks some difficult problems faced by the industry. This is a very competitive market. Now beauty products brands are facing new pressure on the transparency and sustainability of their products, online and offline sales in a more complex sales environment, pressure through social media activities, and women's requirements in previously neglected areas are recognized rather than patronized... Oh, all these have not raised prices.
Let's take a closer look at what happened.
no problem. 1 - transparency, traceability, sustainability
Three parts of a big problem in the beauty products market. With increasing public awareness of plastics, animal testing, water pollution, palm oil and worker exploitation (this list is not detailed enough), beauty cosmetics brands have to provide transparency and, in many cases, review and adjust their products to maintain real customer needs.
Consumers want to be seen from beginning to end. They want clearer labels. They want to ensure that the products they buy comply with their ethics.
no problem. 2 - online / offline
In recent years, the way we buy beauty products has become more and more blurred. Online sales are driving the market, and about half of the growth comes from online sales. By clicking on a button, they can share the same complexity and benefits as thousands of users. If the evaluation is positive, it will help the exposure, but if the evaluation is not, the product sales will be affected.
However, the store is still an important element of this market. Although beauty retailers have invested a lot in their websites, they just can't copy the results of trying cosmetics in stores. However, consumers want to choose how to shop - they may browse online and then enter the store to test and buy, or some shoppers may view and test products in the store and then buy online.
no problem. 3 - over 40
Women over 40 are a neglected area in the media, especially in the beauty products industry. What is often completely ignored is that when brands and retailers sell them anti-aging products designed to make them look younger.
But older women are beginning to find their voice. People want to grow old better; They want to grow old more naturally. We have seen the peak of plastic surgery, and now people are turning to non-invasive products to achieve more natural results.
People over the age of 40 are a large group, and by the way, they have a lot of cash to spend, and they ask for recognition. If beauty retailers continue to ignore this area, they may fall behind.