"The right is the best" consumer demand will land

The 2020 pandemic has dramatically changed consumer behavior, and therefore, the 2020 beauty care trend will also re-examine the future of the industry from the perspective of consumer buying behavior and attitudes.

Mintel's new "2021 Global Beauty and Personal Care Trends" reveals and interprets four trends that will impact the industry in 2021. Looking ahead, Sharon Kwek, Associate Director of Global Beauty and Personal Care at Mintel, discusses how these key trends will impact the beauty and personal care industry globally, including the impact on manufacturing, businesses, brands and consumers.

1. A beautiful mind

Going forward, brands that encourage and normalize the fight against stress and anxiety through beauty routines during uncertain times will deliver long-term value to consumers. Brands that rigorously enforce safety standards can generate more confidence and attract new consumers with the security of reclaiming the retail experience. Brands also need to develop strategies for third-party experts who can help consumers understand the future of holistic health and understand mind-body-spirit self-care.

2. Value (re) assessment

As many consumers begin to reevaluate the necessities of survival, experiences will become more valuable than tangible products. If a brand wants to encourage consumers to shop, it needs to redefine the value of the product beyond price, and make consumers produce consumption behavior through purchase influence, convenience and quality. As consumers choose between different categories, flexitarianism will become more extreme. For brands to succeed, they need a clear understanding of what truly resonates with their consumer base, reducing customer acquisition costs and increasing the lifetime value of their products.

3. Digital leads channel innovation

Over the next 12 months, multiple, complex, personalized digital touchpoints focused on capturing the needs of individuals in their lives will drive customer loyalty and customer lifetime value. Brands need to develop strategies to move their business models towards private label websites that promote authenticity and challenge large markets where supply chains are not yet transparent. Brands can also leverage specialty departments to create a true omnichannel strategy that enhances the beauty experience by promoting the brand's commitment to the product from the perspective of trained, trusted professionals.

4. Beautiful ecology

With many consumers shifting their buying focus to their local communities and focusing less on price, brands will continue to partner with local businesses to support them with real, long-term strategies. By combining ethics and safety, catering to autonomous, prudent consumers and helping them avoid excessive risks of routine and non-routine, this will drive the evolution of the concept of "clean". Consumers move in and out of big cities and small towns, and their access to products and services will change as their priorities change. To encourage repeat purchases, brands need to invest in more diversified touchpoints and drive better product discovery.

Jane Henderson, Mintel's President of Global Beauty and Personal Care, said: "As experts in understanding what consumers want and why, Mintel Beauty and Personal Care Trends predict future consumer behaviour. Over the past decade, we have accurately predicted consumer and market trends that have shaped the global beauty and personal care industry. Our reputation is well-established, with more than 3,000 brands developing winning strategies based on Mintel's insights, timelines and advice. Today, Mintel will continue to lead the conversation!"

Mi Xiu, head of Tmall International beauty industry belt, believes that before and after the epidemic, the trend change of China's beauty personal care consumption & products shows the following keywords. "The first is' purity ', after the epidemic, consumers re-examine their lives and care more about nature and environmental issues. Quite a few products focus on their own formulations, eliminating unnecessary ingredients, 'less is more', reducing stimulation, and being as' pure 'as possible. Similarly, in terms of packaging materials, we are seeing more and more brands using sustainable, recyclable and degradable materials. Another key word is' constituent party '. It's not just about the focus on ingredients and simple stacking, it's more about using technology to make ingredients work, and we're seeing an upward trend in some of the theater brands."

The epidemic has had a significant impact on global supply chains and foreign trade imports and exports. In this regard, Tmall launched the "New World Factory" project to help realize the relocation within the industrial belt, complete the canning in the bonded zone (outside the customs) and improve efficiency. At the same time, for some small and medium-sized businesses and new brands, we also launched the "new big trade brand station", which lowered the threshold of entry, guided the flow of businesses, helped them get customers, and saved marketing costs.