The beauty industry is quickly becoming a hotbed for clever innovations that cater to a diverse variety of needs. These days it seems like there’s a beauty product for every skin type, hair texture, and lifestyle.
But how did the beauty industry change so fast? Senior Editor of Cosmetics Design Simon Pitman says Millennials are driving the demand.
The Beauty Market: From Niche to Hit
“The Millennial consumer has raised the bar for expectations on products,” Simon says. As consumers are becoming more informed, what used to be considered niche in the beauty industry is now becoming commonplace or even an industry standard.
For example, there’s a new emphasis in the beauty market on “cruelty-free” products. Cruelty-free beauty products aren’t a new concept, but today’s consumers are more aware of how their products are made. So many consumers may refuse to buy beauty products that use animal testing or are produced by employees working in sweatshop conditions.
Beauty Products Just for You
The recent diversification of beauty products available on the market is also the result of Millennial trends. “[The] Millennial consumer wants a product that’s targeted directly towards them,” Simon says. “What’s happening now is microsegmentation. There’s a product for everyone. It’s no longer, ‘one size fits all.’”
That means the creation of beauty products like an oil-based shampoo to repair bleach-ravaged locks. Or even an entire organic, cruelty-free beauty line to even the tone of hyperpigmented, rash-prone skin. Finally, beauty products that you can feel good about buying!
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