As the world changes at lightning speed, adapting to the use of new technology has been topping the agenda for most industries in the past year.
Right now, it seems like new advancements in beauty and personal care tech are developing on a weekly basis.
We’ve all been watching how Artificial Intelligence and could potentially change our industry, our roles and the daily processes we use. And we've kept a close eye on startup businesses such as HautAI.
In terms of social media, TikTok has continued to reshape the beauty trends cycle. Meanwhile, there was a big push from beauty companies experimenting in the Metaverse earlier on in the year, but all has gone quiet on that front for the time being.
But while we observe a more futuristic industry, we are also spotting consumer cohorts that are harking back for timeless ingredient favourites and even ancient rituals in their beauty and personal care products.
There is increasingly a trend to combine the old and the new; the scientific and the spiritual, which is resulting in new startups that take the best of both for their NPD; combining the use of futuristic ingredients and technology with age-old beliefs and traditions.
A standout year for scent and derma beauty
Fragrance has been the all-star category for 2023, as the younger generations treat themselves to an entire ‘fragrance wardrobe’ and smash down gender barriers in this category.
On the topic of Prestige Beauty, this still winning new fans in the Fragrance and Colour Cosmetics categories despite the inflationary economy, and we’ve seen new high-fashion brands like Prada enter the market this year.
Meanwhile in Skin Care, Derma Beauty has been a winner – with companies such as Beiersdorf and L'Oréal noting stand-out results in this area – and even more people developing a love for ‘French pharmacy-inspired’ skin care brands.
Sustainability and other key movements
Of course, we can’t round a year off without mentioning sustainability and we’ve seen plenty of innovation in this area across the entire supply chain.
But we’ve also seen customers become more cynical and accusing companies of ‘greenwashing’.
One thing we know for sure is that there is still a lot of work to be done in becoming more eco-friendly and even circular in our approaches, but the pressure is on, as we are not an industry that will be forgiven if we don’t.
The microbiome has also increasingly featured in various categories. We recently saw L’Oréal acquire Lactobio as it plans to expand its use of 'precision probiotics'. (Don't forget to sign up for our Beauty Forward remote digital summit, which will take place in late January, to find out more).
On the microbiome topic, there's also lots of exciting NPD taking place in the feminine care category at the moment, as new research comes to light on changes to the microbiome at different life stages: such as in pregnancy or during the menopause.
And as 2023 draws to a close, why not catch up the predicted beauty trends for next year, get a glimpse into how society is set to change over the next 12 months, or find out more about consumers will expect from beauty and personal care brands in 2024?
2024: join us for our global digital summit
And finally, let’s talk about what we have in store for you in 2024…
In January, we will kick off with our first ever Beauty Forward global digital summit. Between 29th – 31st January, we will join our colleagues in the Americas and APAC regions for a three-day remote summit to discuss all you need to know about the Next-Generation Beauty Consumer.
In Europe, we’ll be joined by experts from companies such as L'Oréal and Weleda, as we focus on the hot topics of Microbiome Beauty, Circular Beauty and what’s coming next for Skin Care – with an emphasis on ‘psychodermatology’.
Interested in knowing more? Find out here or register now to watch our broadcasts.
