Facial skincare incorporates multiple effects into individual products
Implications - As influencers expose consumers to varied and hyper-targeted skincare products, the prospect of actually purchasing all those skincare items can be daunting. Brands have responded by offering consumers products that perform multiple tasks, saving them the expense of purchasing several different items. This shift comes as brands recognize the cost and functionality-based conditions in which consumers prioritize their purchases.
Workshop Question - How could you combine multiple aspects of your brand's offering into a single product or service?
Trend Themes
1. Multi-functional Serums - Brands are offering products that provide multiple benefits, addressing the need to simplify and streamline skincare routines.
2. Customizable Serum Cocktails - Skincare brands are using big data to offer personalized formulations that cater to the unique needs and concerns of each individual.
3. Hybrid Cosmetic Serums - Brands are merging the properties of skincare serums with makeup products, offering innovative dual-function products that cater to consumers' needs for multitasking items.
Industry Implications
1. Beauty and Skincare Industry - Industry professionals can leverage these trends to offer new and innovative skincare products that cater to consumers' need for simplicity, personalization, and multi-functionality.
2. Big Data and AI Industry - Companies in the big data and AI industry can create tools or platforms to help skincare brands collect and analyze data for the development of personalized formulations.
3. Makeup Industry - The makeup industry can benefit from these trends by creating hybrid products that combine the benefits of skincare serums with makeup, addressing the demand for multi-functional cosmetics.
