The silver dollar is growing in power, according to a leading data and analytics company.

GlobalData has released a list of four big trends that will be impacting the evolving beauty landscape in 2020.

These four major movements in beauty have been identified by GlobalData’s consumer insights analyst, Shagun Sachdeva, as the ones to watch out for in the Asia Pacific (APAC) region.

We’ve listed these for you below:

  1. Customisation – According to GlobalData, consumers are “attracted more towards the concept of customisation where they can alter their product according to their own skin type and daily lifestyle leveraging artificial intelligence (AI) and other connected devices”.
  2. Health and wellness – Consumers are “seeking a simpler approach to beauty and looking for convenient ways to obtain a health boost and willing to pay a premium if they believe instant benefits can be attained,” the release said.
  3. Empowered older consumer – “With social pressure and personal desires to maintain youthful appearances, personal care products are gaining momentum among the old aged consumers,” the release stated, claiming as a result, “manufacturers are seeking to engage consumers with offerings that resolve aging and skin-specific issues such as dulling, wrinkles, and loosening of skin”.
  4. Community influence – “According to GlobalData Consumer Survey Global Q3 2019, 34 percent of consumers find products that are trending on social media, like Instagram and Facebook, as an influential factor while shopping.” The report also said that almost a third of respondents said the same social media platforms made them more self-conscious about their appearances.

So remember, there is money to be made in the ‘grey’ market – pay extra attention to your aged consumers.

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