LONDON — WGSN is expanding into beauty, with the debut of a dedicated platform called WGSN Beauty that’s broken down into four categories: color, ingredients, packaging, and texture and fragrance, WWD has learned.
“It was the right time to launch something dedicated to that industry because there are so many opportunities, yet challenges, at the same time. The beauty industry has become even more trend-led and it felt right for us to create something,” said Carla Buzasi, managing director of WGSN, in an interview.
“We wanted to think about beauty as a component of design,” she said, adding that hair care, skin care and makeup can all fit into the four categories.
WGSN Beauty aims to help brands understand different demographics, uncover the next trend and, most importantly, help brands create their next hero product. According to Buzasi, the beauty industry stands out as the one in which consumers make constant repeat purchases over an extended time, buying what’s known as “holy grail” product.
“Beauty is the only industry left where people create things which, for decades to come, customers will still want to use and buy on a regular basis. Everyone wants to be the person who creates the new Chanel No. 5 or the Eight Hour Cream. So there is this focus on creating something that people won’t just buy next month or next year, but that their children may be buying,” said Buzasi.
Aside from these four pillars, the platform is also focusing on key demographics. Prior to the launch two weeks ago, WGSN Beauty released a report on Generation Z and its purchasing behavior. It found that Gen Z buyers are “highly all-clusive” and resonate with brands that support their mental and emotional well-being.
According to WGSN Beauty, Gen-Zers don’t see a difference between digital and physical stores, and brands that can align these two spaces to create a “phygital” landscape will create connects with this new demographic, which will make up 40 percent of consumers by 2020.