In this video, Chipilkatti notes that against a backdrop of on-going global economic instability, the make-up category is proving to be somewhat of a ‘sweet spot’ of opportunity in the personal care space.
While highlighting key trends in the segment, the market analyst also talks about the way in which consumer demand for make-up – in particular colour cosmetics – is being buoyed by progressive category innovation as well as consumers’ ‘thirst’ for colour and their willingness to experiment based on Datamonitor’s consumer trend framework.
The analyst further notes that out of 40 subtrends, 8 key trends are impacting the category and are relevant to make-up and new product launches.
Those subtrends include fresh and natural, efficient and effective, vitality and balance, 'right for me', bargain hunting, informed shopping, resource scarcity, and sensorial function.
"As innovation happens all over the world, products developed for the skincare and make-up category that are based around making life easier and simplier are key for consumers at the moment."