Iliyana Mesheya, Associate Analyst, GlobalData will be speaking on ‘Trends and opportunities across the global hair care landscape’ at the Marketing Trends Theatre on Tuesday, 17th April at 12.15 at in-cosmetics Global in Amsterdam.
Who will be the key consumer groups for hair care players to target in the next ten years?
As hair care brands look ahead to the next ten years, several consumer groups are emerging as promising potential targets for different aspects of product innovation.
Gen Y consumers (Millennials) are showing a strong willingness to experiment with new brands, products, and hair care concepts.
Based on GlobalData’s 2016 primary consumer research, when it comes to trying new varieties of shampoo and conditioner products, almost half (47%) of consumers of this generation say they often try new shampoo varieties.
Therefore, hair care brands can capitalise on this by introducing novelty products that help address individual consumers’ appearance-related goals.
The Gen Z consumer demographic is also one that opens opportunities for hair care brands to explore.
This “i-gen” cohort, with birth years starting from early 2000s, is said to be highly connected and socially active, demanding unique products tailored to their individual needs and personalities.
This offers opportunities for hair care brands to create hyper-customisable products that are available for purchase through social media channels, such as Instagram, and that are unique enough to be photographed and shared online.
Equally open to embracing their individual needs and preferences, are consumers aged over 55 who are placing increasingly focused on the hair health and maintenance.
This group should not be overlooked, brands should target them with products that meet their specific concerns related to hair and scalp health.
‘White Hot Hair’ is an example of a hair care brand that has positioned itself to address the changing needs of this consumer – with products by them designed to embrace the hair aging process through strengthening and brightening white and grey hair.
Any top tips for hair care brands looking to make an impact in the coming period?
Brands can capture consumers’ desire to achieve their individual hair care goals by engaging them in the process. To do this in an enjoyable, unique, and effective way, brands can take active or passive customisation approaches.
Active customization allows consumers to create products tailored to their needs using “do-it-yourself” kits, whereas passive customization enables brands to cater for consumers’ unique needs through interacting with them on social media platforms.
Looking beyond skin care influences, hair care brands can also take inspiration from the food and drinks sector, by using ingredient formulation that would help consumers achieve their desired hair goals.
We are starting to see more hair care brands blurring the lines between food and beauty by introducing product ranges that use ingredients known to have hair benefits, such as superfoods.