Compiled by Imogen Matthews Associates, those changes should be heeded by both brands and retailers who should be adapting their products if they are to thrive 'in an increasingly competitive environment.
The report highlights that although the old mantra "cleanse, tone, moisturise" has now been used for decades, few consumers seem to have ever taken it on board.
More about mix and match than mantras
Indeed, the report points out the fact that what most women have always preferred to do is mix and match products to suit their specific needs and regimes.
“The premium skincare market was worth £503m in 2015 and is a substantial and influential category within the beauty industry,” said Imogen Matthews, Publisher of The Premium Market Report.
“However, growth has been slowing to just 2.3% in 2015. While cleansers and moisturisers form the backbone of many women’s routines, the opportunities for growth will come from exciting new product concepts and technologies. Skincare brands need to ready themselves for these changes.”
Delving deep into the trends
The report is the second of four themed reports that focus on key categories, and includes a consumer survey run by One Poll to determine what 1,000 UK women had to say about their beauty regimes.
Besides the fact that consumers like to chop and change the products they use according to their needs, the report also highlights that it is new concepts and technology that consumers really embrace when the consider what products they buy.
But interestingly, the survey also found that a lack of confidence about the choices they make and what products are best for individuals also holds back millennials from buying more sophisticated products.
At the other end of the cosmetic-buying consumer scale, women over 55 are the group that are buying the most serums and moisturizers, yet they are the ones that are most sceptical about scientific claims for skin care products.