05 Dec 2019
Posted in Consumer
Millennials and Gen Z taking charge of APAC beauty market, says GlobalData
The millennials and Generation Z (Gen Z) in the Asia-Pacific (APAC) region are showing an increased awareness of environmental elements and pollutants with regards to beauty brands, demanding for more ‘clean beauty’ products with claims like ‘more close to nature’, ‘vegan’ and ‘cruelty -free’, says GlobalData, a leading data and analytics company.
Sumit Chopra, Consumer Research Director at GlobalData, highlights the top beauty trends in APAC led by the millennials and Gen Z.
According to GlobalData Consumer Survey Q3 2019, 44% Gen Z and 51% millennials in APAC responded that they actively/completely look for ‘vegan’ products while purchasing beauty and grooming products, creating opportunities for companies to attract this generation through new product launches. For instance, Drunk Elephant, also known as ‘clean beauty’ brand, has been focusing majorly in cutting down on essential chemical oils, drying alcohols, silicone, chemical sunscreens, Fragrance/dyes and Sodium laureth sulfate (SLS).
Make it Smart
Major beauty brands are investing in technological advances to cater to the consumers’ desire for ‘smarter’ and tech-validated beauty solutions. According to GlobalData Consumer Survey Q3 2019, 48% Gen Z and 60% millennials are always/somewhat influenced by how the product is digitally advanced.
For instance, AS Watson collaborated with Meitu to launch the Magic Mirror in 2018. It will offer customers tailored product recommendations and promotions alongside a number of services.
With the current generation’s desire for a holistic approach, brands are creating a new segment of ‘wellcare’ which is shaping the future innovations. In line with this, the companies are revealing code of ethics and best practices to enhance customer loyalty.
According to GlobalData Consumer Survey Q4 2018, 62% Gen Z and 70% millennials are always/somewhat influenced by how the product impacts their health and wellbeing.
Taiwanese brand Inna Organic targets millennial behavior through its ‘camera-ready’ instant benefit solutions, which are made with non-toxic ingredients and essential oils.
The social media platform with its influencers, social content and variety of unique products has helped the way millennials and Gen Z shop for products and share their own content. Hence, brands are using influencers to move beyond their existing product portfolio.
GlobalData Consumer Survey Q3 2019 reveals 45% Gen Z and 50% millennials somewhat/completely agree that social media has made them more self-conscious about their appearance, whereas 32% Gen Z and 43% millennials are interested and actively buy such products that are trending on social media.
For instance, Singapore-based beauty influencer Mongchin Yeoh posts images and videos, related to the updated products with detailed and unique formulations. She also hosts her own TV series based on her adventures around Southeast Asia, encouraging the Gen Z and millennials.