The beauty and wellness industry is one of the fastest-growing sectors. Statistics reveal that it’s growing at a steady rate of 5% to 10% every year.¹ While this is impressive, it also means that it’s constantly evolving.
If you run a salon and spa, you must keep up with current trends. This will help your business remain relevant and increase your profitability. If you have a fat-melting machine around, you will appreciate trendy information that relates to your clientele. 2021 has brought about several changes, some of which were unexpected. Check them out below!
Beauty & Wellness Trends to Fast Track the Growth of Your Business
Even though the wellness and beauty industry trends are constantly changing, here are the top five that dominated 2021.
Natural Beauty Products Are Flourishing
Customers are not more international about the products that they use. They don’t just want to know the ingredients. They also want information on how the raw materials were sourced. This stems from the fact that some products contain undeniable chemicals.
In response to this, cosmetic businesses are now labeling their products as ‘eco-friendly’ ‘green’ or ‘natural.’
More Businesses Are Adopting E-commerce Platforms
Ecommerce platforms are becoming more popular, and it’s not hard to see why. They are convenient and allow customers to purchase products from the comfort of their homes. They also enable businesses in the beauty and wellness industry to be diverse.
This is because they can efficiently serve the 2 main customer segments; online shoppers and customers that prefer to visit their physical premises.
Mask-Friendly Makeup Is on the Rise
Even though the impact of COVID-19 has lessened, most countries still require their citizens to wear masks. Customers are now focusing on mask-friendly makeup, especially products for the upper section of the face.
Most consumers have also stopped using lipgloss as it smudges and stains their masks. They now mainly use liquid matte lipstick.
More Brands Are Embracing Product Inclusivity
Product inclusivity is all about catering to a wide range of skin tones. Darker skin pigments have been neglected for a long time, but manufacturers are rectifying this. Brands like KKW Beauty by Kim Kardashian and Fenty by Rihanna are now producing more products for dark-skinned consumers.
Inclusivity also includes manufacturing products for various skin types, including sensitive, oily, and dry skins.
More Customers Are Punching Beauty Subscription Boxes
Subscription boxes are thriving, and not only because they’re fun. They’re also practical and, most of the time, affordable. They’re usually collections of beauty and makeup products sent to a customer regularly. It could be every month, quarterly, annually, etc.
The most popular beauty subscription boxes include BoxyCharm, Allure, Birchbox, and IPSY. Some even combine wellness products and beauty items for diversity. The average cost of a subscription box is between $10 to $50.
Leverage the Profitability of Your Business With These Wellness Trends
It’s often difficult to predict trends in the beauty and wellness sector. This is because the industry is constantly evolving, and trends rarely last for long. It’s, however, very profitable, and statistics show that by 2026, it will be worth $ 4.24 Billion.²
Links to Sources Used
- Feeling good: The future of the $1.5 trillion wellness market – https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/feeling-good-the-future-of-the-1-5-trillion-wellness-market
- Global Health and Wellness Market (2021 to 2026) – https://www.globenewswire.com/news-release/2021/02/24/2181202/0/en/Global-Health-and-Wellness-Market-2021-to-2026-Industry-Trends-Share-Size-Growth-Opportunity-and-Forecast.html