It is that time of the year again, and we’re excited to announce the 44th edition of our annual Cosmetics & Toiletries USA flagship report, in which we take a close-up look at the ever-changing beauty industry to reveal its latest trends and dynamics. The report is very detailed but easy to navigate and answers a plethora of questions, some of which the report’s project manager, Naira Aslanian, is answering in the interview below.
- What changes have taken place in the beauty and personal care market in the past year, and what do these changes mean for the marketers?
This is a constantly evolving environment, from changes and innovations in products and packaging, to up-and-coming indie brands and those with cult-like followings, to the transformative retailing landscape.
- Are there any shifts in consumer preferences, and how are marketers responding to them?
Consumer preferences evolve and shape all the time as consumers become increasingly demanding in their preference for products that cater specifically to their needs. This is evident in various mega-movements that we have seen over the past several years, from inclusive beauty and male grooming to personalization. Brands – both small, indie brands such as Briogeo and large cosmetics giants such as Lancôme – respond to this growing movement.
- What categories do you expect to show a solid performance in 2018?
It’s too early to talk about the growth of the categories in 2018. However, we do expect the skin care category – particularly facial skin care, which recorded a solid 7% in 2017 – to continue steaming ahead in 2018.
- Can you talk about the retailing landscape?
The beauty retailing landscape continues to undergo an enormous transformation with 2017 being the year of new formats. Through new and notable formats, retailers have an opportunity to improve their shopping environment to better connect with customers. Pop-up stores, specialized beauty stores, stores with new and personalized concepts and even online-exclusive brands extend their footprint in brick-and-mortar stores to attract young, experimental consumers.
- Can you talk about the retailing formats that stood out the most?
Boutique beauty retailers, a hot topic that we will cover in a standalone report entitled Boutique Beauty Retailers: Channel Analysis and Opportunities, have shown outstanding performance over the past several years. Brands such as Aesop and Rituals have continued their expansion, opening new stores and bringing that ultimate in-store experience to their consumers. Vertically integrated stores have shown a solid performance of over 6% in 2017, and there are no signs of slowing down.
