On February 12, some of the most innovative minds in beauty will gather for WWD’s highly anticipated Digital Beauty Forum.
We’ve noticed a lot of trends among our clients in the beauty industry and the industry at large lately. There’s a general shift in focus from makeup to skincare, especially in younger consumers, as well as a strong focus on personalization. Consumers want to be spending their money on the right product at the right time for the right result, and since makeup and skincare often feel like very specific, personal choices to a consumer, they want products that feel like they’re made for them. As Mintel reported in their report on Global Beauty and Personal Care Trends for the next decade, “Customers will dictate what they want from beauty and personal care companies and how they want to receive it.”
Recurring revenue is playing a huge role in the beauty industry, as customers want a seamless way to consistently access their favorite products. Beauty and wellness brands are leaning into subscription services to make it easy for customers to access products in their wellness regimen on a regular, recurring basis so they’re always fully stocked with the products that help them look and feel their best.
As a result, department stores are focusing more on their beauty departments to keep up with their subscription- based etail competitors.
At Digital Beauty Forum, speakers like Kory Marchisotto, Chief Marketing Officer of e.l.f. Cosmetics will take the stage at the beautiful New York Historical Society. Topics will range from “Pushing the envelope on personalized experiences” to “How short-form mobile video is transforming engagement” and “Getting inside the heads of Gen Z beauty junkies” — everything beauty retailers need to stay on top of in order to have a competitive product in 2020.
We look forward to chatting about our latest NAPCO survey findings as well as more of our industry insights with attendees.