Page 3 - CB Report Flipbook

2020 Caire Beauty
03
Industry
Trends
Summarizing future trends in the beauty industry and how they can be integrated with Caire Beauty's product and marketing strategy
Vegan Beauty
Clean beauty has risen to the forefront of
the industry. A popular part of this beauty subsection is vegan skincare products. Vegan beauty consists of products that are not made from animal products, animal GMOs, or tested on animals. Caire is already in accordance with vegan specifications and can use this as an area of opportunity in future marketing strategy. Caire should make plans to assure current and subsequent products are certified vegan. PETA guidelines are the industry standard for cruelty-free and vegan authentication services. Going through the certification process would be relatively quick and cost- effective for Caire. The brand can expect an increased ROI as this trend continues to become more prominent for the foreseeable future.
Geographic Hotspots
Now more than ever, skincare has become more accessible on a global scale with the continued surge of online retail. Euromonitor conducted a study on
potential “geographic hotspots” currently in the industry. Some of these regions include Japan, Korea, Germany, and Scandinavia. Asian countries such as Japan and Korea are known for their innovation, captivating packaging, and high-quality products backed by science. Furthermore, the “multi-step skincare routine” was popularized in Korea which has driven consumers to expand the number of products they are willing to invest in. European countries such as Germany and Scandinavia are known for their focus on clean beauty. Both countries lead the pack in eco-conscious products and packaging. Additionally, beauty brands from this region emphasize the importance of beauty as more than just a product, but rather, a lifestyle.
There is an opportunity for Caire to look at regions in Asia and Europe to predict beauty trends before they reach the US. Whether these trends pertain to marketing or product development, Caire can strategically place its brand ahead of smaller competitors with this format. Considering that consumers are associating products manufactured in geographic hotspots with positive attributes, Caire can look towards these regions as manufacturing hubs for future product launches.