27 May, 2021 COVID-19 has created new opportunities for hybrid makeup and skincare products, says GlobalDataPosted in Consumer
Fuelled by social distancing, ‘low-key’ or casual looks dominated both fashion and makeup during the pandemic period, which has seen consumers find a new level of appreciation for skincare rituals and ‘natural beauty’. Effortless looks with ‘glowing’ skin and delicate hues are the new standard, creating new opportunities for hybrid products that combine makeup with skincare, writes GlobalData, a leading data and analytics company.
Nina Nowak, Senior Researcher at GlobalData, comments: “Beauty trends have gone through numerous changes in recent years, but the shift in consumer attention from makeup to skincare has been accelerated by a year of lockdowns. Considering that a majority (71%) of UK consumers admit that their purchasing choices are always, often, or somewhat influenced by how well a product aligns with their needs and personality, beauty brands that miss the demand for skincare benefits are unlikely to wow the post-lockdown consumer*.”
Nowak continues: “Low-maintenance, natural looks dominate current trends. A change from heavy contouring, bright lipstick and colorful eyeshadow to sheer, delicate, and subtle styles calls for new product formulations and marketing. Skincare that works like makeup may be sought by consumers who want to achieve a desirable no-makeup makeup look.
“However, this shift in trends brings challenging circumstances for makeup brands. The closure of beauty giant Becca announced in March 2021 has shown that even brands with a large following have been heavily affected by the pandemic and weak sales. Changing trends and economic circumstances may have forced shoppers to reconsider the way they spend money on makeup, potentially reducing the number of purchases.”
According to *GlobalData’s 2021 Q1 consumer survey, 37% of consumers in the UK associate ‘good value for money’ in beauty and grooming categories with high-quality products/ingredients, while 17% identify it with multi-benefit/multi-functional product factors. This savvy attitude calls for the development of products that beautify instantly like makeup and work long-term like skincare.
Nowak adds: “Active ingredient additions help create a multi-benefit product positioning. Tinted moisturizers with added skin nutrients and sun protection may replace traditional liquid foundations. Lip balms and serums with an instant plumping effect and subtle colors deliver benefits beyond standard lipstick. Plant extract enriched bronzers and blushers blur lines between categories and target consumers seeking maximized product performance.
“While lockdown might be coming to an end, relaxed looks are not. Brands that recognise the impact of new trends have better chances to resonate with post- lockdown demand for products that help achieve ‘fresh-faced’, understated beauty.”
* GlobalData’s 2021 Q1 Global Consumer Survey