Millennials Transforming Beauty Industry 🌟

🕵️‍♀️🔍 Curious fact: Makeup purchases seem to decline with age! 📉💄 But why?

Here are my observations:

Millennials have revolutionised the beauty and personal care sector, craving authentic self-expression and a radiant Instagram-worthy glow. Embracing social media, they opt for indie brands over traditional labels, propelling their rapid growth.

But, are attributes like 'healthy,' 'natural,' and 'clean' significant to this generation? Millennials view beauty as part of their wellness journey. A survey revealed that 72% of all respondents prioritise purchasing healthy or clean products, with millennials leading the charge.

The potential is staggering, with global beauty sales valued at $500B and projected to hit $800B by 2023. Natural and organic beauty alone is predicted to reach $22B in annual sales by 2024, a 12% CAGR.

Millennials value transparency, sustainability, and ethical sourcing in their products. However, they face confusion about terminology and trust issues with some established brands. They are willing to pay more for clean products but want clear benefits.

According to me, the listed things brand can do to survive in the cluttered market:

Embrace Micro brands: Millennials prefer authentic niche products, driving growth for smaller brands.

Focus on R&D: Larger brands need to showcase scientific evidence and certifications to support their claims.

Simplify: Make it easy for consumers to understand product attributes and ingredient lists.

Price Strategically: Millennials are price-sensitive, and pricing plays a crucial role in their purchasing decisions.

Optimize the Supply Chain: Efficiently manage inventories and leverage technology to ensure product quality and freshness.

In conclusion, catering to millennial preferences will require precision, innovation, and a personalised approach. Understanding their values and preferences will be the key to thriving in today's ever-evolving beauty market. 🌿💄Lakme India,Maybelline Cosmetics,FACES CANADA,Colorbar Cosmetics Pvt. Ltd.,Nykaafashion, SUGAR Cosmetics,Lotus Herbals Pvt Ltd

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