Personalisation Takes Centrestage in the World of Beauty
Being equipped with knowledge can not only help consumers make the right choices, it will also enable businesses to innovate and create groundbreaking products.
The post Personalisation Takes Centrestage in the World of Beauty appeared first on LUXUO.
The beauty industry is expected to be worth over US$430 billion by 2026, estimates alone show that beauty and personal care products? US market value is over US$93 billion. The number is expected to rise further if it?s not for the sudden onset of the coronavirus that has plagued the world since the start of 2020. While this unexpected once in a generation crisis has severely altered the way most people have lived their lives, it has also conferred greater urgency for society to arm themselves with knowledge. The internet is a treasure trove of information, where with a click of a button, a person could gain insights into a particular topic.
Equipped with such knowledge has made shopping for products easier, faster and somewhat personalised. In this seemingly over-saturated market, where each brand maintains its own speciality, it?s easy to think it?s all been done. As long as the product contains that ?magical ingredient? that you are looking for, you will buy it?that easy. Reports have shown that catering to the mass market is no longer as profitable compared to the past. Diversity is an important consideration that brands have to keep in mind when developing their new products.
Brands are becoming more ...
The post Personalisation Takes Centrestage in the World of Beauty appeared first on LUXUO.
The beauty industry is expected to be worth over US$430 billion by 2026, estimates alone show that beauty and personal care products? US market value is over US$93 billion. The number is expected to rise further if it?s not for the sudden onset of the coronavirus that has plagued the world since the start of 2020. While this unexpected once in a generation crisis has severely altered the way most people have lived their lives, it has also conferred greater urgency for society to arm themselves with knowledge. The internet is a treasure trove of information, where with a click of a button, a person could gain insights into a particular topic.
Equipped with such knowledge has made shopping for products easier, faster and somewhat personalised. In this seemingly over-saturated market, where each brand maintains its own speciality, it?s easy to think it?s all been done. As long as the product contains that ?magical ingredient? that you are looking for, you will buy it?that easy. Reports have shown that catering to the mass market is no longer as profitable compared to the past. Diversity is an important consideration that brands have to keep in mind when developing their new products.
Brands are becoming more ...
| -------------------------------- |
|
|
