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Market Insights & Analysis: Beauty Industry

Market Insights & Analysis: Beauty Industry

Trapica Content Team

Industry News
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5 min read
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July 31, 2020

Industry Overview

The beauty industry is one of the most trend-centric. What are we seeing in 2020? From eye masks, to micro-needling tools to barely visible foundation, this year is about natural beauty. People are more focused than ever on skincare, while cosmetics have started to falter. As people are staying indoors and working from home more frequently, there is less need to get dressed up and thus purchase makeup and beauty products. However, we do have some data insights that reveal audience insights into the modern beauty-conscious consumer and what their favorite brands are up to.

Industry Marketing Trends

What specific trends are taking place?

The Underrepresented are Represented

The end of the previous decade saw certain underrepresented communities gaining the attention they deserve. Brands like Superdrug and Fenty have developed and restocked foundation shades that provide a greater variety of tones for Asian and black women in particular. Beauty industry marketers will need to focus more on a diverse consumer base to contradict the assumption that the customer is white and young.

Celebration of Ageless Beauty

Older women are another demographic that feel unacknowledged by beauty brands. Age inclusion is particularly important considering that “40 percent of women over the age of 50” ‘don’t feel seen’” by them. Leading brands such as L’Oréal Paris, Clarins and Trinny are beginning to cater towards Gen X women and represent them more intentionally.

Blue Beauty Rules the Future

Blue beauty is a manifestation of conscious capitalism and describes beauty products that strive to protect the oceans and water supplies. Consumers are gravitating towards these kinds of brands because they are sustainable and demonstrate concern for the environment. Clean beauty is another emerging trend that focuses on human health and avoids potentially harmful ingredients.

Top 10 Segments

By taking a look at the top targeting segments in specific categories, marketers can improve audience personas by better understanding interests, intents and behaviors. What does this reveal?

Music topped all other segments in hobbies and activities with a 94% match. The rest of the results showed that shopping, arts and music, food, family, rock music, comedy movies, retail, reality TV and video games performed best in their categories.

In addition, the top five segments for the beauty audience are shown below:


Age/Gender Distribution

What can we learn about the age and gender distribution of these customers? Demographically, about 25% are aged 25-34 and about 20% are 55-64 years old. Importantly, the beauty consumer tends to skew female with 57% women.

Millennials are an important generation to focus on as they comprise the majority of influencers on social media platforms and can attract new young consumers. However, as we mentioned before, it is likewise important for beauty brands to focus on older populations to promote inclusion.


The Top Persona & Audience Discovery

We already discussed the top 10 segments, but what can we learn about the top persona for this industry? Since the top audience persona segment is interested in music, that could be an important element to pay attention to when creating a targeting strategy.

As we saw in the marketing trends section, the beauty consumer is diverse which is why people of all races, ages and demographics must be included. From targeting insights, we’ve gathered that these people are most interested in shopping, fashion, hobbies and activities, natural skin care and products, arts and music, sports, outdoors, health and wellness and travel.

Trapica Market

You may be wondering where all of these data insights are coming from: the answer is Trapica’s benchmark reports. Trapica is a B2B company that uses artificial intelligence to provide marketing solutions for companies seeking to optimize their campaigns. It works with businesses across a variety of verticals such as e-commerce beauty and apparel brands, education, content publishers and more. The platform offers tools including competitor ad library, automation, insights and benchmark reports like this one.

Data Gathering & Analysis

The data in the benchmark report tool is sourced from Facebook and organized by Trapica. It takes a niche industry and displays data visualizations to help businesses understand their audiences. With this product you can go through a quick overview, audience discovery, geographic and demographic reports. Following these four main categories the tool will unpack segments in the entertainment, hobbies and activities, food and drink categories and miscellaneous items at the bottom.

Industry Benchmark Report

If you are looking for key insights into your audience, Trapica’s new tool can help you with segmentation and other marketing tactics. Click here to access Quollo's Beauty Industry Benchmark Market Research Report, and don’t forget to check back for more articles on other industry reports in the future!

Industry News
|
5 min read
|
July 31, 2020
Trapica Content Team

The Trapica Content Team aims to share relevant industry news, marketing tips, and company updates to make sure our readers have the best info about digital marketing.