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New analysis reveals top global consumer trends to boost market presence and digital shopping experiences for beauty brands and retailers.
Chicago, Helsinki, August 21, 2024 – Revieve, a leader in digital beauty technology, today released its comprehensive report, “Global Skincare Landscape 2024 and Beyond.”. This in-depth analysis of consumer trends and preferences provides valuable insights into current and emerging trends worldwide informing the beauty and skincare industry and helping brands and retailers strategically position themselves for the future.
The report highlights consumer behaviors and preferences from the first quarter of 2024, offering key beauty and skincare insights that can guide brands and retailers in deepening customer engagement through AI technology.
“Revieve’s 2024 Global Skincare Report underscores the importance of understanding regional consumer behaviors and preferences in the dynamic beauty and skincare industry,” says Sampo Parkkinen, CEO at Revieve. “By leveraging these insights, beauty brands and retailers can strategically position their products to meet evolving consumer demands and drive engagement and sales.”
According to the report, the global beauty and skincare industry is experiencing a transformative shift that will shape how retailers and brands cater to the diverse range of consumer needs and demands across the globe. This analysis focuses on the five key global markets: Asia-Pacific, Europe, the Middle East, the United Kingdom, and the United States.
To download Revieve’s report, "Global Skincare Landscape 2024 and Beyond", click here.
Key Highlights of the Report:
Beauty Brands:
- The report provides a comprehensive understanding of the evolving beauty landscape across regions by examining the latest trends, consumer behaviors, and market responses from Q1 2024. In the Asia-Pacific (APAC) region, consumers are predominantly young and tech-savvy, heavily influenced by social media. This market shows a strong inclination toward innovative and high-tech skincare solutions, with a preference for products featuring advanced formulas or pollution protection.
- In the Middle East, consumers are luxury-oriented and quality-conscious, favoring rich creams and serums with potent active ingredients.
The report also highlights regional differences in consumer skincare concerns. For example:
- In APAC, consumers are concerned with oiliness and acne due to high humidity and urban pollution.
- Middle Eastern consumers prioritize sun protection, hydration, and anti-aging due to the arid climate.
- UK consumers prefer hydrating and barrier-repair products in response to their cooler, wetter climate.
- The diverse US demographic presents a wide range of skin concerns such as acne, aging, and hyperpigmentation, with a significant preference for personalized skincare routines.
Retailers:
- Drawing from Revieve’s Q1 2024 retail studies , the report offers retailers detailed insights into consumer skincare preferences and purchasing behaviors across demographics.. Analyzing data from over 150 brands and retailers, the report provides actionable insights for retailers. In APAC, younger demographics dominate, with a high preference for digital engagement and mobile interactions. Retailers are encouraged to invest in engaging positioning marketing to help consumers understand their skin types and select best matching products.
- In Europe, there is a strong engagement with eco-friendly and sustainable products. Retailers can expand their clean product lines and focus on formulations for sensitive skin to cater to market demand.
- In the US, there is a significant opportunity to leverage personalized marketing strategies and innovative product offerings to meet the diverse needs of a broad consumer base. With a high percentage of consumers under 34 years old, retailers can benefit from emphasizing natural and cruelty-free products that address specific skin concerns.
Global Beauty Landscapes:
“Global Skincare Landscape 2024 and Beyond" report reveals, regional markets are showing distinct preferences and opportunities. In the Middle East, 44% of consumers are more likely to purchase high-end skincare products, reflecting a strong preference for luxury. In the UK, hydrating products make up 35% of all skincare sales, driven by the region’s climate. Meanwhile, in the US, where 57.77% of consumers engaged with digital beauty solutions are under 34 years old, there is significant potential for loyalty-building personalized skincare solutions, underscored by a continued growing interest in natural and cruelty-free products.
From APAC’s 337.3% surge in beauty traffic to the diversity and growth of the US market, these insights highlight the significant opportunities that lie ahead. For a deeper dive into these trends and more, the full report offers comprehensive insights and strategic recommendations to help brands navigate this complex landscape.
Press Contacts:
Irina Mazur
Chief Product and Marketing Officer
irina@revieve.com
Vitalia Vasilkova
Marketing Director
vitalia@revieve.com
