New Beauty for New Consumers 2008
A new beauty economy emerges
(Innovation disrupts market for skin and body care products and services)
June 2008
A new beauty economy is emerging which presents a threat to the traditional professional beauty channel with its hundreds of thousands of salons, spas and product formulators.
New beauty therapies not only create markets - by meeting new demands of mainly new consumer segments - but also take sales from established players
The non-traditional beauty concept is outperforming the rest of sector. Spas, medspas, cosmetic laser clinics, weight loss clinics and dental spas are registering double digit growth rates in markets stretching from China and Europe to the US. The emergence of new types of treatments and the proliferation of new facilities are underreported and, thus, the beauty industry is unaware of the sea change taking place. Many of these new beauty businesses are under the radar, that is, not usually covered by existing statistical or regulatory frame works.
In contrast, there is anemic growth in beauty salons and spas, and also in invasive cosmetic surgery. The sector is largely static and no major innovation has been seen for quite some time. This contrasts with hair salons where colouring, especially highlights, injected new life to the sector and transformed the fortunes of the entire haircare market.
With “new beauty” an entirely new category has emerged. The commonality of “new beauty” is that it blurs the cosmetic and the medical and is qualitatively different from traditional beauty services and businesses. It covers therapy, facility and consumer categories and body parts. A long term shift in consumer demand for skin and body care services and products is taking place.
Diagonal Reports highlights the key issues:
-New beauty brings long term transformation to personal appearance while traditional beauty focused on temporary transformation or maintenance. -Demand is strongest in anti-ageing and weight treatment – transformational categories which obsess consumers worldwide.
-Effective solutions for problem body parts (hair removal, blemish free skin, non-white teeth)
-Men, young people and emerging (especially Asian) market consumers – three critical segments for the beauty industry- are enthusiastic users of these facilities and therapies and are bypassing traditional salons.
-Faster beauty treatments with more immediate results suit the lifestyles of who can afford them.
Ironically in retrospect, the more innovative of the traditional product formulators - who actually created market expectations now being met by others - may lose the most. Ambitious claims were made for innovative cosmeceutical lines launched some years ago. These high priced and high tech skin care products jolted the market in terms of sales and expectations. Consumers, who had been willing to wait for a month to see improvements, now expect almost immediate visible results. The availability of botox merely strengthened this consumer demand for faster acting beauty and cosmetic treatments.
This new report, New Beauty for New Consumers 2008, draws on extensive research conducted by Diagonal Reports in salons, spas and clinics in Europe, the US and Asia. The report analyses the key factors which are shaping this market:
-new beauty therapies which are outperforming the sector
-new consumer segments which are driving growth
-body parts and appearance problems which are being treated
-salons and clinics which are benefiting from changes in consumer demand
-growth rates for the different beauty channels
-future directions for the personal care and beauty industry
-implications for suppliers of face, skin and body care products and services
The report is designed for companies which want to get ahead of market trends
Previous research reports include:
US Professional Haircare Market 2008
Largest Chinese Salon Chains 2008
Cosmetic Lasers US 2008
Weight Treatment Therapy Market US 2008
Cosmetic Lasers China 2008
Weight Treatment Therapy Market China 2008
US Dental Spa Market 2007
US Med Spa Market 2007
European Spa Market
Convenient Care Clinics US
The Global Salon Spa series was first published in 1997
Title: New Beauty for New Consumers 2008
Pages: approx 25
Date of publication: 30th June 2008
For further details on market reports, please contact Diagonal Reports
Buy This Report
