Given the emotive nature of the personal care industry and therefore the tendency for consumers to stick to tried and tested brands, it can be challenging for manufacturers to engage with their audience and achieve stand out appeal. It is therefore crucial that industry players uncover the key market and consumer trends, and ensure that new product and marketing innovations align accordingly.
Features and benefits
- Minimise the risk associated with new product launches by uncovering the key innovation trends shaping today's personal care industry.
- Utilize product, consumer, and market insight intelligence to better evaluate the market opportunities that consumers’ beauty demands bring
- Stimulate ideation and invigorate brands by learning from best practice product innovations across the personal care industry.
- Achieve sales growth by understanding which product attributes are currently serving to enhance consumer perceptions of brand credibility.
The market success of a personal care brand is determined, in large part, by its ability to engage with its consumers above and beyond its industry competitors. This is particularly challenging for personal care companies given the emotive nature of the industry and the tendency for personal care consumers to stick to tried and tested brands.
With over half (55%) of global consumers claiming that they would rather stick with a health and beauty brand that they know works for them than try a new one, the ability of personal care manufacturers to understand consumers needs, wants and preferences for personal care products and innovate accordingly is paramount.
Datamonitor’s research shows that in order to achieve a competitive market positioning, it is crucial that personal care brands are aware of the implications of consumers’ anti-aging, personalization, ethical, convenience, "at-home", and sensory needs for new product development.
Your key questions answered
- What are the key consumer and market trends driving innovation in the personal care industry? What is their cross-category relevance?
- How will these trends play out in the personal care industry over both the medium and long-term?
- To what extent are personal care manufacturers tailoring new product developments to capitalize on these trends?