Which beauty segments are enjoying the fastest growth? What’s driving this growth? Questions like these were addressed recently by Kline’s very own Carrie Mellage, Vice President of Consumer Products. On February 18, 2014, Carrie had the privilege of participating in a panel discussion with Pam Busiek, President and CEO of Independent Cosmetics Manufacturers and Distributors (ICMAD), and the legendary Dr. Robb Akridge, founder of Clarisonic, at the 2014 Global Beauty & Wellness Exchange held at the Ritz-Carlton in Amelia Island, FL. This exclusive invitation-only event offers suppliers of beauty and spa products the opportunity to network with buyers from high-end spas in a series of “exchange sessions,” peppered with informative sessions such as this panel presentation.
Pam opened the session with introductory remarks and commentary on the regulatory developments affecting the beauty landscape. She noted how much the industry has changed over the years—from one that originated from “mercy and grace” to now being driven by science—and remarked that regulatory changes had been relatively quiet until fairly recently. Representing ICMAD, Pam, along with the Personal Care Products Council and Professional Beauty Association, is working hard to represent and protect the best interests of industry participants. Kline is proud to partner with ICMAD, offering its members free research highlights and attractive discounts on select Kline reports.
Carrie then took the stage to share key findings from Kline’s latest research in the beauty industry. She reflected on the innovations that have shaped the beauty industry and noted that the $250 billion global market (manufacturers’ level) continues to be propelled by innovations and technology like anti-aging products, social media, and tablets/smartphones. Carrie pointed out that all of the fastest growing segments within the industry—including professional nail care, beauty devices, and body contouring products—are all enjoying double-digit growth as a result of technological advancements. She commented on how technology has also been responsible for altering the retailing landscape, with retailers increasingly going omni-channel and bringing diagnostic tools to their stores. See Carrie’s slides, below:
Last but not least, Dr. Robb then told the story of how Clarisonic was founded in 2000 and how it has evolved into what it is today. He shared a video which playfully illustrated Clarisonic’s Seattle roots and showcased the technology and research behind the brand. He talked about Clarisonic’s latest product launch designed for feet, Pedi Sonic, and showed another video featuring this product. He wrapped up with what he sees as the key to success: be aware of the latest trends and then try to step outside and ahead of them.
Not surprisingly, Dr. Robb’s comments are perfectly in line with the latest research uncovered in Kline’s soon-to-be-published report on Beauty Devices due out later this month. Body devices (which is where Clarisonic’s Pedi Sonic is captured) is currently the fastest growing device type in the United States, up at a rate of nearly 200% in 2013. To learn more, please contact our team.