Business

Five Trends That Will Shape the Beauty Industry in the Next Decade

01.31.2020

The past decade has brought about many changes in the beauty industry, from the way we market to the products we use. As we enter the new decade, Art of Business anticipates several new and existing trends to take hold of the industry. Here’s what to expect and how salon owners and stylists can prepare for what’s to come.

Technology Developments

Tech developments continue to permeate every aspect of our lives, and beauty is no exception. From apps that let clients preview a potential new hairstyle, to skin care regimens developed through artificial intelligence (AI), the tools and products the beauty industry relies on are constantly evolving.
We expect this trend to continue as technology becomes more entwined with our day-to-day lives and the products we encounter. Watch for an increase in AI-based apps, smart mirrors, hairbrushes, and even printed makeup.

Inclusiveness

Another trend that will continue to gain steam during the next decade is the already-hot “inclusive beauty.”
Widespread recognition and products that embrace all genders, generations, hair types, and skin colors are becoming essential for survival in today’s ultra-competitive market. Expect to see an increasing number of products aimed at underserved market segments—from better men’s hair care products to treatments for thinning hair, and the large category of aging female baby boomers.

Sustainable Packaging

Not surprisingly, sustainable packaging will also be a big focus in the beauty industry going forward. Consumers are increasingly concerned about their environmental footprint and how the companies they buy from work toward more sustainable practices.

Replacing raw materials with recycled ones and minimizing material use where possible is becoming a staple for brands to be favorable with today’s consumer. Davines is one beauty brand already on the sustainable packing train, with guidelines aimed at reducing material usage and minimizing wasteful practices.

Influencer Partnerships

Influencer partnerships will also gain more traction in the coming years. More than ever, consumers are looking to influencers for the brands they should support. Celebrities, beauty bloggers, and other notable individuals have become brands in and of themselves, providing the opportunity for collaboration that extends beauty brand reach to relevant markets and differentiates brands from their competitors.

Differentiation in a saturated market is also becoming more challenging for retailers; they will have to be more critical in selecting products in line with the core values of their target audience. Similarly, brands will also need to be more selective about the retailers they choose to showcase their products.

Ingredient Transparency

What goes into beauty products is also changing; consumers want to know what their products are made of and how it will impact their health. Brands are increasingly having to come clean (literally) about the materials they use and where those materials came from. Like the farm-to-fork movement in cuisine, consumers are demanding beauty products made with natural, sustainably sourced ingredients.

Many beauty brands have seen the light and made adjustments to their business practices already. Cezanne, for example, has stepped up to the challenge with its formaldehyde-free hair products. The brand also has a section on its website dedicated to educating consumers on the dangers of formaldehyde—a chemical compound widely used in hair products.

While the last 10 years saw many changes in the beauty industry, there’s a lot more change to come. Stay ahead of the curve by partnering with Art of Business for the best in beauty industry education, business knowledge, and brands.

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