Mirror, mirror, on the wall who’s the most innovative of them all? Although the beauty industry suffered a setback caused by the pandemic and the lockdown, thanks to innovative ideas and the ability to adapt, we are seeing a lot of new products that are more in line with our new lifestyles. This urge for being more conscientious and socially responsible, both by individuals and businesses, gave way to sustainable, clean and organic products, with a technological (advancement) twist. These are some of the leading emerging trends and technologies in the beauty and skincare industry, and even if you are not in the industry, you might get some ideas for your own business.
Protection over aesthetics
The pre pandemic era will differ a lot from the post pandemic era, and we are starting to see that everywhere. The beauty and skincare industry is no different and is flourishing with innovations to support the new mindset and lifestyle choices. Consumers are paying more attention to ingredients, packaging, and ways to protect themselves from pollution as well as stress caused by blue screens.
The lockdown and remote working have brought quite a few changes to our daily routines. Makeup sales have significantly decreased because of this, but the awareness for skincare has increased even though the air pollution decreased because of less traffic. People started to pay more attention to dirt, bacteria, pollution and above all transfer of Covid19, so skincare and hygienic products became way more important than beauty products. This created a need for better protective beauty products. The SPF is also becoming more important and not only contributed to sun protection products but is becoming a regular addition to other products, both skincare and beauty.
The change in daily routines, our digital engagement and more time being spent in front of blue screens created another issue – eye strain and tech neck, which also created a need for products such as eye illumination supplements, eye creams, and different wrinkle creams. Being safe is becoming more important than just looking pretty.
Minimalism and activism
The minimalist mentality is starting to kick in as we’ve realised that we don’t need as many products as we used to, and that even our skincare routine can be reduced to a couple of products if not one. Although the beauty industry did suffer a big setback, it is estimated that it will recover by 2027. and be worth over US $463.5 billion. The shift towards a minimalist lifestyle created an opportunity for beauty companies to reinvent their products, and create new ones that have all the main ingredients bottled up in one container. This satisfies the new need, and also answers another big issue of eco-friendliness and sustainability since less packaging is being used. Instead of using a bunch of products in the daily routine, use one product that will do just the job, and be cleaner at the same time.
Clean beauty increased by 11% according to NPD, and judging by the looks this is a trend that will become even more popular. Consumers started paying more attention to ingredients and opting for more sustainable products. For the companies, this meant being transparent about ingredients and switching to greener and more sustainable alternatives. Eco-friendly products that use alternative proteins, animal-free collagen and leather substitutes are becoming more desirable. Bhuman powdered hair wash has created a water-activated powder that uses less water than other hair wash products. And we are seeing a lot more sustainable and plant-based packaging across the industry. Being conscientious about the environment is a rising trend that is affecting all industries.
Personalization and customization
Unlike regular beauty products you could buy at a store or shop online, some companies have gone a few steps ahead. Know beauty sends you a skincare routine based on a DNA test and lifestyle factors. Based on the predisposition you might have to various skin problems combined with other factors, you get a specific skincare routine designed just for you. When it comes to customer service on another level, Color & Co by L’Oréal, offers a personalized at-home service. This way you can sit down from the comfort of your home, and video chat with a colorist who will give you all the right answers and advice about your color choices. No more regrets and unexpected results from DIY hair coloring endeavors. Another cool product for those who like DIYs and creating custom makeup is GoPlay’s LipsKIT. With their innovative twist on lipstick, you can create almost any color in just a few steps, and with just one kit. Certainly, something to go with our minimalist and activist lifestyle!
Innovative technology and beauty
When innovative technologies cross paths with beauty and skincare products, we get some really cool and futuristic products. From robots doing your eyelashes (Luum) to an AI-3D image processing-micro camera - deep learning algorithm-at-home nail printer (Nimble). Science and technology gave a real sci-fi twist on beauty and skincare. When MIT trained-scientists use fluid science to develop a device that hydrates your skin with nano-mist, which contains much smaller particles more easily absorbed, you get Droplette. And when you apply AI technology that analyses your face through an iPhone or cell phone camera, and answer a few questions about your skin type and foundation preferences – you get a perfectly matched foundation by Dcypher. A lot of businesses have had to switch to online selling due to the pandemic, and used this opportunity to boost their e-commerce as well as create a completely new virtual experience with their customers using VR. It not only solved the lockdown problem but strengthened their relationship with the customers and gave it a new dimension.
This just shows that you have plenty of room for innovations and improvement in your business as well. Opportunities for innovations are all around it, and you have plenty of room to improve your existing products or come up with totally different new ones. Don’t be afraid to try some new ideas and see where that will lead your business. A great way to gather ideas and develop them is through our Innovation Cloud Platform that will ensure your business an efficient and successful innovation process.