Beauty In Transformation
March 17, 2020
Do you know your customer well enough? Just like fashion, beauty is an industry that has existed for millennia and, bar some unimaginable change in human behaviours, always will. The current size of the beauty market is debatable. One widely quoted report estimates the global beauty industry is worth $532 billion while another suggests it generated around $320million in retail sales in 2018. Either way, a small slice of that pie is a very attractive one. But how do you capture and then retain your share? What are the trends and how do you appeal to a market that is undergoing a seemingly transformative change at the start of a new decade? We gleaned insights from a group of experts who are making a success of their differing journeys through the beauty industry, and found that despite the crowded marketplace and the doom and gloom among certain sub-sectors, there are still opportunities for those with a compelling product range and brand narrative.