EURO RSCG LOOKS AT BEAUTY’S FUTURE
Byline: Kerry Diamond
NEW YORK — Where is the beauty industry headed? The folks at Euro RSCG Worldwide, which bills itself as the fifth largest advertising agency network, were wondering the same exact thing. In response, they put together a white paper entitled “Five Trends Shaping the Future of the Cosmetics Industry.”
“We’re interested in what’s changing,” said Marian Salzman, global director of strategy and planning for the company, who, along with Ira Matathia, global director of business development, led the research effort. “Beauty is blending together and we’re very interested in what that means for the marketplace.”
Here is what they found:
Emphasis on Wellness: Is it better to look good than to feel good? Not today. Customers want products that work inside and out. “Many women are devising beauty routines that center on self-expression and self-empowerment,” the report says. “They are less willing to be judged by standards other than their own.” But at the same time, they are looking for products to prevent and/or reverse signs of aging and turning to a category of goods known as cosmeceuticals, a category that is expected to boom.
Creating Brand Me: Customization is on the rise. “At play here are two important forces: the desire for the best possible product to meet one’s unique needs and a wish to be valued as an important, one-of-a-kind customer.” The trend ties in to the modern movement toward “complicated simplicity,” which the report defines as having “less to do with ease than with connecting to a simpler time.” After all, it’s easier to buy a lipstick than customize your own with a kit.
Male Vanity: The report pointed to such efforts as Boots Men, locations opened by Boots the Chemist where men can get spa services, and Lynx barber shops, which feature Sony PlayStations in the waiting room and televisions featuring music channels. Because men are more focused on power and strength than beauty, the report predicts that cosmeceuticals for men will “focus on vigor and achievement.” As for men’s shopping habits, “they are far more brand loyal, don’t care about reward gifts and don’t like to spend time trying out products at the counter.”
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Make It Multifunctional: It’s not enough for a product to do one thing anymore. “Today’s faster pace of life means that consumers are demanding more from the products they buy,” the report states. This means everything from products that moisturize and protect from the sun, to items produced specifically to benefit a charity. “Opportunities abound for cause marketing tie-ins in this category, allowing men and women to look good and feel good with a minimum of effort.”
Changing Faces, Changing Needs: “The two most important demographic trends that will help shape the future of the cosmetics industry are our aging world and the West’s move toward multiculturalism.” At the same time, people are embracing their ethnic identity. According to the report, the American Society of Aesthetic Plastic Surgery noted that the number of nose jobs performed between 1997 and 1999 dropped 25 percent. The implications? Consumers may gravitate toward culturally based cosmetics. And as for the aging population, expect our notions of “youth” to dramatically change.