Must-See: 2024 Report Unveils Game-Changing Shifts in Consumer Trends

A recent international cosmetic study on consumer trends has identified some interesting changes in 2024.

Commissioned by Avon, the multinational beauty brand commissioned Censuswide to undertake a global research study to determine what consumers need and prioritise when it comes to beauty. 

The study uncovered some important findings that highlight how consumers are changing their perspective on beauty. 

Here are some of the key findings

Anti-ageing is less important than skin health

• One of the first observations of the study was that nearly 72% of the women quizzed, stated that since the Pandemic they realised that their health was more important than looks, and looking healthy was more important than just looking younger.
• An incredible 97% of the women researched stated that improving skin hydration was their priority as well as maintaining their health and well-being was their priority.
• With a lower percentage of 92% giving anti-ageing as a reason.

Skincare influences are not a trusted source

• Over 36% of women who were quizzed in the research stated that they prefer real-life dermatologists and qualified skin experts to gain their advice for their skin.
• UK women were the least to trust influences for advice when it comes to skincare.
• The study showed that consumers are becoming more sceptical in believing non-qualified people when it comes to their care needs.
• Up to 36% also stated that they trust family members with their suggestions, this indicates that knowing the person with the advice is more convincing than the opinion of unknown individuals.

Matching dupe products to high-end skincare for affordability

• The research also identified that in particular, Gen Z and Millennials were studying skincare ingredients and seeking more cost-effective brands that duplicate the same ingredients or benefits.
• In some countries such as France 54% of consumers ages 15-34 stated that dupes of premium and luxury products provided the same experience as the original. 
• However, older age groups were prepared to purchase premium products and save on other items, if they can deliver better results.

Sustainability skincare, but without the surcharge

• Consumer sentiment across the globe reflected awareness and recognition of the value of skincare being developed based on global sustainability principles as a priority. 
• While some indicated that they were prepared to pay a little more if the product was better and safer for them, while also doing something good for the planet. 
• However, 49% said that they would not be prepared to pay more and felt that the manufacturers should cover the costs of producing the product more sustainably. 
• Other researchers such as Euromonitor, stated that as consumers struggled financially, sustainability dropped as part of their list of priorities.

The study points to the rise of survival as the driving force in consumer sentiments when it comes to their cosmetic choices with a focus on health and wellbeing increasing in their preferential priority, as well as the financial viability of products and treatments during difficult times.

The key take-home message for salons and clinics in catering for these trends

• Ensure you are providing cost-effective solutions
• Extended payment plans make it financially easier for your clients to continue to afford your products and services.
• Prioritising safety and ingredients that support good health
• Add topical treatments or introduce services that support and improve health and well-being.  

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