Three trends for beauty businesses in 2024
The forces behind the beauty industry's growth are many and varied from an explosion in educational social media content to economic factors that favour the "lipstick effect" (i.e. offering small gifts to self when times are tough).
But within the wider macro movements there are very specific trends, largely driven by technology, that are helping beauty brands and retailers to drive growth and customer loyalty in a very crowded market.
Here are three tech and trend insights from the report that every ecommerce professional should know in beauty.
Influencers: Recommendations & Reviews Power Growth
Social media provides an opportunity for beauty brands to showcase their products and services, often leading to increased brand awareness and sales.
TheIndustry.beauty's new report shows that brands need to constantly keep innovating and trying new ways of getting their message through to consumers in order to standout in the busy beauty retail market.
British skincare brand Elemis is among the brands and retailers enlisting influencers to target their community in the hope of bringing global brand awareness to new customers via TikTok and Instagram.
It recently issued a call-out for micro-influencers to join its ‘Skinsiders Community’, exchanging online content for rewards.
AR/VR: Bridging The Physical/Digital Divide
The tradition of try-before-you-buy is ingrained in the beauty business, therefore, bridging the divide between the physical and digital has been fundamental, particularly since the global pandemic.
From skincare analysis to makeup try-ons, AR-powered platforms can offer a personalised retail experience for shoppers, both in-store and online.
More and more businesses are introducing this technology to allow consumers to see exactly how each product will look before making a purchase in the comfort of their own home.
This is a trend TheIndustry.beauty alongside BigCommerce believes will continue into 2024 and beyond.
Sampling Glows-Up
Getting products into people’s hands is fundamental to the beauty industry and has been the case since sales associates began handing out samples in department stores. However, sampling can be expensive, competitive and flawed with a non-targeted and blanket approach from businesses.
Beauty brands should elevate their sampling strategy to become more inventive, easier and engaging to capture the attention of consumers.
From voice-activated sampling to elevated advent calendars, there are a number of sampling innovations in the industry.
This includes SoPost partnership with Amazon’s voice-activated Alexa to launch product sampling campaigns, helping businesses connect with consumers when they’re listening to audio content.
