Beauty Trends Dec 27, 2022

Predicted Beauty Trends for 2023

Predicted Beauty Trends for 2023

Kristof Neirynck, our global Chief Marketing Officer, shares his predictions for the beauty industry’s biggest trends in 2023.

What are the big trends you think we’ll see in the beauty industry in 2023?

Post pandemic and now exacerbated by the cost-of-living crisis, consumers demand more proof behind the claims brands are making; demonstrating the efficacy behind their products and ingredients. We can also expect to see the continued rise of ingredient-led products.

As an uplifting category, beauty plays a key role in self-care. In 2023 consumers will increasingly focus on products that sit on the convergence of beauty and health, as well as skincare products that focus on microbiome, hormones and personalised vitamins and supplements.

We can also expect to see a continued rise in technology and data to enhance and elevate the shopping experience both online and offline. Through advanced diagnostics that enable personalisation, the further rise of social commerce that started in Asia but is now gaining traction across the world and last but not least technology that enables constant communication, support and advice throughout the customer journey, whether online or in store.

Which categories will be driving sales for brands in 2023?

Colour cosmetics will continue to see a resurgence as cosmetic users are emerging from the pandemic tired of their old routines, ready to tap into the latest trends and explore new product innovationsThere is a willingness to experiment may it be with multipurpose products, emerging brands or completely new looks. Consumers are looking for high-impact products that require a limited amount of skill but allow them to express their emotions through impactful looks .

In addition, facial skin care has been witnessing rapid growth in the past few years; this is not expected to slow down any time soon. Innovations for facial care continue to tap into environmentally friendly, naturalness, wellness, and diversity trends . We’ll see a continued focus in the areas of stress, fatigue and a lack of sleep.

We also expect fragrances to continue its post pandemic resurgence, in particular in the space of more niche and unexpected olfactive combinations as consumers are seeking to express themselves in unique and distinctive ways.

The higher cost of living has clearly had a huge impact on consumer spending habits, how do you think this will evolve into next year?

We are definitely seeing a trend for consumers prioritising the ‘fundamentals’. However, we also see that customers are not afraid to shop around. We’re finding they are open to trying new things in order to find the best quality products at affordable prices and are re-evaluating the notion that ‘more expensive equals the best quality’.

This being said, the ‘lipstick index’ shows that sales of lipstick rise in times of economic uncertainty as consumers look to find simple, inexpensive ways to treat and uplift themselves.

For beauty brands, it’s really important to emphasise the value of your products, which is a combination of product performance, as well as price. Consumers will have no tolerance to spend money on products that don’t work, so emphasising and proving beyond doubt that your products deliver great performance is more crucial than ever.

What will the priorities be for beauty brands in 2023?

Every (beauty) brand will need to carefully manage their profit margins by balancing their consumer pricing carefully in the context of rising inflation, cost of goods and supply chain uncertainty, versus consumer spending impacted by the cost-of-living crisis. The key will be to emphasise and explain why your products are worth the price.

Digital will be the game changer. Connectivity, convenience and community are the buzzwords for beauty, with brands tapping into on-demand apps and connected wearable devices. Digital technology is transforming the customer experience, service and end product. With so many consumer choices, there is a sense of urgency to win in omnichannel after many companies were slow to catch on to previous trends.

Beauty brands cannot ignore environmental and societal concernswith the industry primed to start making significant inroads in providing a more sustainable offering that also has a positive impact on society as a whole. Only brands that successfully combine commerce with purpose will survive on the long term.