The beauty industry has always been at the forefront of ecommerce innovation and reinvention, and this year has been no exception. From clean beauty to hyper-personalized skincare and AI cosmetics solutions, beauty retailers are always looking to enhance their customer experience.
In a survey conducted by market research company Nielsen, findings show that in America beauty aisles are finally beginning to reflect diversity. The number of unique color ranges has grown seven times as fast as product lines as a whole, whilst the number of unique colors of foundation sold has grown three times as fast as the rate of new general product development across foundations.
For example, Too Faced, a brand that prides itself on innovative makeup products and has a wide range of lines, saw a huge annual turnover of $350m, whilst Illamasqua, a beauty brand whose tagline encourages the consumer to “Express your individuality” saw their profits rise to their largest yet at $50m.
Black and Ethnic Minority women agree that while the introduction of a range of different colors is a positive start, lines with an extended shade range present new problems: quantity over quality. More specifically, this means companies are failing to address undertones as well as they could be.
Beauty subscription boxes and men’s grooming services have been identified as offering the largest growth opportunities in the market, so it’s no surprise it’s attracted the attention of brands and retailers such as P&G (Gillette on Demand), Sephora (Play!), and Walmart (Beauty Box).
Beauty boxes cater to the replenishment needs of their subscribers, but additionally offer the excitement of getting to try out new products. As the McKinsey study concluded, subscribers surveyed wanted something new and innovative in order to continue subscribing, and consumers (particularly curation subscribers) expected personalized subscriptions to become more tailored over time.
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