In times of uncertainty and shifting consumer behaviour, the beauty industry is evolving. Based on the latest State of Fashion Beauty report by McKinsey & Company and The Business of Fashion, Statista research expert Dominique Petruzzi shares eight key insights that reveal where the market is heading. From the growing role of AI to the importance of consumer-centricity and the continued rise of mass beauty. Explore the full insights below.
Thanks for sharing this (love the mix of 3 7 and 8) The future of beauty I believe will be defined by the continuation and evolution of AI including the digital adoption of powerful personalisation and product recommendation platform across the beauty categories (such as skincare, makeup and hair) to help educate, guide and advise consumers on what is most suitable for them and acknowledging what matters to them most, starting with discovery to helping drive consumer awareness, engagement and acquisition. Consumer centric and data driven marketing strategies, combined with a seamless and frictionless consumer journey both on and offline, in turn will help retain consumer loyalty-long gone are the days of a simple discount to entice and keep them loyal.
Insightful Dominique Petruzzi
AI Solutions Consultant – Supply Chain and Tech @ PRIMAFELICITAS | AI | Blockchain
2moThe insights shared shed light on the significant transformations within the beauty industry. It's fascinating to see how consumer behavior drives innovation, especially with the integration of AI. These developments not only shape the market but also set the tone for future trends.