Your 2024 Beauty Industry Report has arrived 💄 📈
The UK beauty and personal care market has faced some turbulence over the
last few years, but is ‘the lipstick effect’ still relevant and true?
Could the cost of living crisis be a window of opportunity for beauty brands?
This report uncovers trends, forecasts and insights surrounding the beauty
industry to support marketers with sustainable growth plans.
Download yours now - link in the comments below. 👇
The U.S. prestige beauty market reached a total of $31.7 billion in 2023 — a steep incline compared to mass market beauty, or "mass-tige" beauty, which saw a modest gain of 6%, with makeup and skincare being the only categories showing growth based on units sold.
Prestige beauty has been on a double-digit growth trajectory over the last few years, according to Larissa Jensen, quoted in a Beauty Matter article. Across every category, prestige units have grown, speaking to a high demand.
Overall:
“The beauty industry is strong and the outlook remains positive for both the mass and prestige sides of the business in 2024,” Jensen said. “This performance is remarkable given the phenomenal growth it has experienced for the past two years, but the industry should not rest on its laurels. Consumers continue to cope with economic pressures, and being in tune with their shifting mindset is a must. Flexibility, creative thinking, and effectively harnessing high consumer engagement are all part of the winning formula to drive continued growth.”
Read more here: https://lnkd.in/ebWTa7P7.
The Basics of Building A Successful Beauty Brand and Navigating The Business Of Beauty Ft. Joël Palix - E.638
Unlock the mysteries of the beauty industry with the guidance of Joël Palix, a celebrated figure whose fingerprints are on some of the most iconic launches in cosmetic history. In a riveting conversation, we uncover the nuances of brand development and how a strategic approach can lead to a product's triumph. From the birth of Yves Saint Laurent's Touche Éclat to navigating the complex investment landscape, we unpack the strategies that can make or break your beauty brand. Discover the significance of simplicity in your beauty routine and how embracing 'slow beauty' could be a game-changer for your skin and the environment.
Our dialogue with Joël Palix takes a revealing turn as we examine how the founder's vision and ethos are instrumental in carving the identity of a beauty brand. Drawing from examples like Glossier to Mugler's perfumes, we explore the consequential changes that affect a brand post-founder departure and how a strong, consistent founder influence can preserve a brand's soul. The episode peels back the layers on the role of incubators in fostering beauty innovations and the high-stakes game of selecting winners in a saturated market.
The beauty industry is on the cusp of a personalization revolution and our discussion with Joël provides a crystal ball into what's next. Personalized beauty is not just a trend; it's a new frontier where brands like Function of Beauty and Curology are setting the pace. We wrap up by sharing indispensable insights for entrepreneurs looking to make their mark in this dynamic sector. This episode is an invaluable resource for anyone with an eye on beauty industry trends or an entrepreneurial itch that needs scratching. Join us for a session that is as enlightening as it is inspiring, filled with expert advice and foresight into the future of beauty.
Palix Unlimited
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Crafting a Cult Beauty Brand in the Age of Social Media Influence with SACHEU Beauty Founder Sarah Cheung - E.643
Step into the world of beauty innovation with Sarah Cheung, the dynamic founder of Sacheu Beauty, as she recounts her transformation from a makeup devotee to a pioneering entrepreneur. Our exchange is more than skin deep; we unveil the breakthroughs behind Sacheu's sensational lip liner, a product that emerged from Sarah's clever repurposing of brow tint for the lips, shaking up beauty routines everywhere. Her story unravels the gritty determination it takes to fill a gap in the market, resonating with anyone who's ever been let down by their makeup's staying power.
As we navigate the intersection of skincare and self-care rituals, Sarah guides us through the traditional roots and modern resurgence of gua sha. Discover how a simple serum oil paired with this age-old technique can work wonders on not just facial puffiness but overall vitality, bringing a flush of health to the skin. And if you're curious about how a meticulously crafted gua sha set can transform your daily regimen, Sarah's insights on the science and soul behind these practices are a trove of enlightenment.
We wrap up with a candid discussion on how social media and Gen Z are reshaping the beauty landscape. Sarah's journey with Sacheu Beauty exemplifies the incredible sway of platforms like TikTok and the critical role of genuine customer feedback in driving a brand's evolution. It's a testament to the power of authenticity and engagement, with invaluable takeaways for anyone looking to make their mark in the competitive arena of beauty entrepreneurship. Join us, and perhaps, like Sacheu Beauty's lip liner STAY-N, you'll find the perfect blend of durability and diversity for your own life's palette.
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2023 Amorepacific Beauty Trend Summary #1
The beauty market saw significant changes in 2023, as people were freed from having to wear masks. Let's take a moment to reflect on how things have evolved compared with last year and explore which six keywords drove the trends in 2023.
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Though U.S. beauty sales slowed in Q1 2024, the desire for premium products remains high. A recent report by Circana found that prestige beauty saw revenue grow by 9% year over year in Q1. In comparison, the mass market beauty category grew by 2% during the same period.
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