With a market valuation projected to hit over $716 billion by 2025, competition is rife within the global beauty industry. But so is consumer demand. Top beauty brands are leveraging market research to develop impactful marketing strategies that resonate with consumers.
Encompassing color cosmetics, skincare, haircare, personal care and fragrances, the beauty industry and its trajectory is defined by market trends. In the last few years, the beauty industry has experienced a makeover: a beauty renaissance triggered by an increase in consumer demand for natural and organic personal care products, anti-aging products, men’s grooming products and a rise in the use of augmented reality (AR).
If you want to gain deep insights into consumer preferences within the beauty industry and propel your beauty brand into popularity, leverage our qualitative or quantitative market research solutions today!
Our market research methodology involves:
Defining research objectives
Research prompts designed to extract relevant and actionable insights
Streamlined qualitative or quantitative data collection
Comprehensive data analysis
Data-driven insights included in an easy-to-digest report
With the rise of gender fluidity, gender-neutrality and androgynous fashion, the beauty industry is evolving to include larger market segments. Reports suggest that marketing communications that include non-binary, transgender, and gender-fluid beauty terms have resulted in increased engagement by over 50%.
We’ll deliver beauty industry consumer insights with everything from in-demand products to industry nuances surrounding inclusivity and diversity and consumer expectations on product quality and pricing.
Leverage any and all our market research solutions from focus group moderation and facilitation to surveys and transform your business today!