Using DIY Beauty Experiences to Enable Effective Co-Creation of Products With the Consumer​

DIY Beauty Experiences Report Overview

The DIY beauty experiences report gives valuable insights into DIY beauty solutions and their growing importance among consumers coping with the post-pandemic era and the cost-of-living crisis.

Consumers have moved away from a one-size-fits-all mindset and are redefining their beauty needs. Therefore, brands are adopting different DIY approaches to meet the changing consumer preferences. The quest for new concepts and formulations has resulted in the popularity of DIY approaches. The pandemic created a huge opportunity for the health and beauty industry to connect to new customers as indulging in at-home treatments became necessary due to lockdowns. Moreover, increased financial pressure has reduced spending on beauty treatments in salons. Consumers are regulating their spending and are adopting a more minimalistic approach. According to a GlobalData consumer survey, as shown in the figure below, 42% of consumers have cut back their spending on beauty and grooming appointments at a spa/salon as they have already started making changes to their spending.

Drivers and Inhibitors for DIY Beauty

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Control of the process, clarity on ingredients, sustainability benefits, and uniqueness are the factors driving the demand for DIY beauty. While DIY beauty seems like an engaging experience it comes with its challenges and risks for consumers. Lack of knowledge and awareness of ingredients and shorter shelf life of products could inhibit the DIY approach towards beauty products.

Growing awareness of cosmetic waste is making consumers rethink their priorities. Brands need to be mindful of their production methods to minimize waste and be mindful of waste generated through unused beauty products. For instance, Ellure is a start-up that aims to cut waste in the beauty industry by enabling consumers to design their products, which are then produced on demand, thus reducing the waste generated by unused inventory.

At Home

Consumers are reinventing their approach to beauty and self-care. Wellness is now a top priority, DIY is becoming the new norm, and clean ingredients are no longer a nice-to-have, but a must-have. The quest for new concepts and formulations has resulted in the popularity of DIY approaches.

Consumers are also reducing their salon trips and indulging in at-home treatments, thus providing opportunities for brands to reassess their product portfolio to appeal to these consumers. Brands are focusing on creating new products that will deliver salon-quality results at home. For instance, L’Oréal Paris Elvive, a hydrating hair treatment, claims to transform hair in just eight seconds as it is formulated with hyaluronic acid and conditioning agents. The transformation of hair could appeal to consumers who want to have quick hair treatment at home without going to a salon and look for effective ingredients in hair care products for time-saving reasons.

In-store

DIY approaches can also exist in-store where consumers can experience products first-hand and feel part of product creation, especially in the case of health and beauty products. The direct-to-consumer (DTC) brands offering product co-creation are adopting a more omnichannel presence to maximize their target audience. Omnichannel retail can aid offline and online retailers in personalizing services, improving their operational efficiencies, and tapping opportunities for cross-channel sales. Therefore, companies are partnering with retail stores with the intent to create DIY counters in-store for a holistic consumer experience. Tira, a new store concept recently launched in India by Reliance Retail showcases shoppable videos, blogs, tutorials, trend-setting tips, personal recommendations, and a virtual try-on feature, having the widest range of color cosmetics for consumers to try on from the comfort of their homes.

Tech Solutions

Major cosmetic brands are leveraging technology to take advantage of consumer wants and expectations and provide a more unique experience. Consumer relationships with brands have moved on from a simple “search and buy” to a more immersive and experiential transaction. While consultations can offer basic personalization, companies are also investing in the development of beauty tech to take it to another level. Also, AI and personalization can help in providing a curated shopper experience that is digital, accessible, and inclusive. For instance, Revieve has created several AI/AR-powered interactive modules as part of its Digital Health-Beauty-Wellness Platform and partners with leading beauty brands and retailers to create personalized product recommendations.

In 2022, Revieve extended its partnership with Shesiedo by launching an AI make-up advisor that will recommend products based on specific consumer needs that they can try before purchasing using true-to-life virtual try-on technology.

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Scope

• With the current cost-of-living crisis, the interest in DIY beauty products has intensified as consumers are looking to reduce their spending.
• Growing interest in personalization, and DIY solutions supported by improvements in technology and data collection, have translated into a plethora of new products and services.
• Blending the physical and digital world will become increasingly relevant as consumers become reliant on virtual experiences such as online try-ons.
• As beauty becomes more holistic, the DIY and personalized beauty proposition needs to consider factors such as internal health, lifestyle, the surrounding environment, and nutrition.

Reasons to Buy

The report will help you:

• Understand the ongoing consumer trends and attitudes to drive and support innovation and its impact on the industry.
• Gain valuable insights into the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
• Access strategic actions to help direct future decision-making and inform new product development.