Women are a driving force in retail, influencing purchasing decisions in most industries. From fashion and beauty to wellness and beverage sales, women’s retail choices have a significant impact on the global market.
According to the National Alliance on Mental Illness, approximately one in five U.S. adults experience mental illness in a given year.
While the beauty industry has made strides in diversity and inclusion efforts, recent research from Mintel indicates that there's still room to grow. Yes, consumers want a wider range of skin tones, but there's more to it. From showing different ages and body types in advertising, to providing products at an affordable price, let's dive into consumer sentiment around diversity and inclusion in beauty.
Before the pandemic, the beauty industry had already undergone vast change in recent years. Trends like direct-to-consumer disruption, the push towards inclusivity, and personalization — just to name a few — have all made a great impact on how brands engage with their consumers. And, after a year where online sales increased by 18.6% in 2019, brands were in a good position to adapt to store shutdowns and capitalize on digital. Below, we take a look at how the beauty landscape has shifted in 2020 and offer thoughts on the future.
From alcoholic beverages to travel and hospitality, the year of 2019 has marked a period of great change across industries. And, as we’ve discussed previously, beauty is one of the fastest-moving categories, with trends popping up and fading into the background at the blink of an eye. However, some of the changes in beauty are happening at a more macro level – many of which are made possible by continued advancements in technology.
Whether it’s in the world of food, automotive, or anything in between, advancements in technology have made it such that most businesses are constantly adapting to changing consumer demands. Yet, few categories move as quickly as beauty, where trends come quickly and often recede into the background at a moment’s notice.