As you are looking into building a beauty brand business as a startup company, it’s important to see where the trends are during this time. Once a business of large companies that made its way through the retail stores now is an online hub for any startup to launch their beauty products.
While the startup roadmap in beauty business is not a guarantee, you can be ahead of the curve by prioritizing successful beauty business trends for 2021 and 2022.
The move to online has made a massive shift in the beauty industry. You don’t even have to have a brick-and-mortar store to sell high quality products. This is a huge opportunity for brands to make their mark in the beauty industry and create a community within their niche.
So, as you are looking into creating something amazing for the beauty space, consider these aspects in rocking your beauty business startup.
Beauty is not only about glamorous looks. It’s also about function and safety, especially since the COVID-19 pandemic. While there already was a shift towards this type of beauty trend, it’s even more so now as we head from 2021 to 2022.
Successful beauty companies are now building businesses that focus on the modern health of feeling good, so their beauty and skincare products are reflecting just that.
People are starting to care more about the ingredients that are going into their products since their health is now at the top priority.
Clara Varga states in “The Future of the Beauty Business,” that, “Clean beauty will evolve to mean ‘safe beauty’. As a result, science-led beauty brands and products will see increased demands.”
As Harper Bazaar states in their “Ultimate Guide to Clean Beauty,” when starting a clean beauty routine, “We believe in taking a common sense approach to clean beauty: If a product is intended to stay on your skin all day (like a moisturizer) and/or it’s covering a large surface area (like body lotion), then you should try to switch to a cleaner alternative.”
While the definition surrounding clean beauty differs depending on the marketing ploys, clean beauty essentially has not been standardized (especially since the FDA hasn’t defined the term “clean” yet). But in general, clean beauty, according to cosmetic chemist, Ginger King, “…includes nontoxic and noncontroversial products that are proven safe and effective.”
However, clean beauty doesn’t have to be 100% natural or a skincare brand. There is a difference between organic, green, cruelty-free, and vegan types of beauty.
Therefore, if you want to create a “clean beauty” brand for beauty and personal care, you have to decide what that means according to what your focus is as a brand and what you want to promote as a business.
Diversity and inclusivity has been a top priority for businesses and business owners around the world. For instance, more popularity has been shown to Korean Skincare and Black-owned businesses than just the standard westernized view of the beauty culture.
Inclusive beauty, according to CB Insights, refers to, “beauty that caters to all individuals, regardless of their gender, age, religion, skin tone, skin type, etc…From the models featured in advertisements to the brands carried in retail stores, inclusivity in beauty is meant to draw in a wider range of consumers than the beauty industry has traditionally targeted…that make beauty more accessible.”
This inclusive beauty movement has created major opportunities for people and women of color to really promote what they have to offer to the beauty industry. It really goes to show that beauty is for everyone, no matter what that beauty looks like.
To help aid your brand to be more inclusive in the beauty market, listen to your customer base and target audience in what they are looking for. You can really get a sense of what consumers are wanting based on the questions they are asking, and products they are requesting, such as for certain skin conditions, aging, and more variety in darker shades.
If you want to stay competitive and attract more of an array of customers, make sure your brand upholds inclusivity and diversity in your values.
A growing niche to tap into is none other than men’s beauty. Especially in the personal care market, men’s beauty is a booming business. It is forecasted to reach $166 billion by 2022.
Even gender-neutral makeup lines have been taking a stand since makeup is no longer just marketed towards women. More men are wearing makeup, not necessarily in a feminine sense (whatever that means), but as a skin evener and to feel more confident.
David Yi, founder and editor-in-chief of Very Good Light, a digital beauty platform for men, states, “By and large I think there’s going to be more genderless beauty products, even cosmetics, hitting shelves in the next few years. We need products that speak to a new generation, that aren’t so hyper-masculine in marketing or use. Younger people don’t want to be boxed in.”
In the area of modern health and self-care, more men are looking at skin care and hair care health by looking for products that cater to that. From grooming products to beard products, to other care products, marketing personal care to men is a huge part of the beauty industry’s growth now and in the future.
New technology is key in the beauty industry for 2021 and 2022. The user experience in the modern beauty realm is huge when it comes to beauty business startups.
Using innovative technology in product development and for distribution is not new. But using innovative technology to make beauty accessible for online shoppers is a huge opportunity for brands since the world is going towards more of an online artificial intelligence (AI) direction.
Generation Z with their extensive understanding of the digital world and digital media, especially with social media platforms, have been really creative in inspiring how AI can be used to aid shoppers online. Essentially, this involves more personalized customer service and solutions.
While online quizzes that shoppers can fill out electronically aren’t a new thing in the online beauty business, AI could take personalized shopping to the next level. Especially with the modern health concerns now, most people won’t be going to stores trying on the samples that are displayed anymore.
Virtual assistance via AI can be a game changer for finding the right shade. For instance, shoppers can check out if a shade of lipstick or blush is right for their skin tone and analyze skin selfies to offer product recommendations.
Of course, there are still some tweaks to be made, and not all people will be comfortable sharing their face online, even if it is for a small business. But it’s an interesting business model to look into if you want to distinguish yourself as a beauty brand, and especially as a startup.
Growth of the Beauty Industry: Personal Beauty
Beauty industry statistics in 2021 show that it went up from $483B in 2020 to $511B in 2021, with an annual compounded growth rate of 4.75 worldwide.
However, it’s predicted to exceed $716B by 2025 and $784B by 2027.
To reach success in the continually growing, but highly competitive market, consider prioritizing these trends when starting a business.
In the end, what people want is personalized beauty, and the opportunity to express themselves in a way that makes them feel good.
The way to offer self expression is to take the opportunity to explore the market shares that are out there for your startup. There are so many niches to consider and be unique in.
If you want more guidance in this area, StartBeauty is an online course that can help you find the best means to get your startup beauty business ready for when these trends boom and grow towards 2022 and beyond.
These trends help with that personalization. So, to really make it as a startup as a beauty business in 2021 and 2022, you have to make it real for your customers. Ultimately, you have to make it personal.