What does the future hold for beauty?
We rounded up several industry leaders to make their prognostications of what will shape the industry in 2024 and beyond.
Jeremy M. Lowenstein, chief marketing officer and head of international, Milani
Emerging makeup trends for 2024 will blend nostalgia, sustainability, inclusivity and technological innovation. Nostalgia with a modern twist will play a significant role, as styles from
past decades, like the ‘90s and early 2000s, make a comeback. However, this resurgence will not be a mere repetition of the past; they will be reimagined with contemporary techniques and products. Subcultural trends will also continue to be relevant as the new generation leans into individualism rather than macro trends encompassing an entire generation. Building on the momentum from 2023, there were a few big product trends such as lip oils and tubing mascara that we anticipate will still be going strong into 2024, aligning with Milani’s most viral launches Highly Rated Lash Extensions Tubing Mascara & Fruit Fetish Lip Oils. Blush, whether used for a healthy flush or pop of color, will continue to gain momentum as #blushhack techniques and products for blush layering continue to be hot TikTok topics.
Sheryl Teo, CEO and founder, Popcorn Growth
Consumers will continue to focus on the link between mind, body and beauty—emphasizing the connection between mental well-being and outward, physical appearance. ‘Neurocosmetics’—ingestible beauty supplements aimed at both improving health and physical appearance—have exploded and will continue to grow in popularity.
Traditional beauty brands will continue facing increased competition from wellness manufacturers like Nutrafol, ARMRA, Vital Proteins, etc., who are marketing their supplements as the solution to the problems that beauty consumers are looking to solve.
Collagen, colostrum, probiotics, etc., once limited to the health and wellness space, are emerging as favorites among beauty influencers.
Hair loss has millions of conversations on social media. Consumers are recognizing the issue is tied to physical illness and stress, and that it is affecting mental health. Consumers are having more honest and transparent conversations online about the skin and hair problems they’re having. Health and wellness companies have stepped up their offerings to meet these needs. Beauty brands must continue to rise to this challenge, listening to the conversation, recognizing
that consumers are focusing on the link between overall physical health and outward appearance. Brands will need to identify the problems consumers are looking to solve and evolve both their product offerings and their engagement with consumers in these social media conversations.
Personalized, virtual consultations will continue to drive the consumer experience, meeting the demand for education and understanding of the product, its ingredients, purposes and best ways to use them. Drug store brands like Maybelline as well as luxury brands like Giorgio Armani are all tailoring their online shopping offerings to be targeted and hyper-personalized with quizzes, try-ons and other AI/AR experiences.
[Read more: Bolt PR’s Caroline Callaway is leading the charge]
Richard Gallucci, senior vice president of sales, Kiss Products, Inc.
There is a post-COVID hangover that exists at a higher level in beauty than other categories. There is a misperception that what took place during COVID was a marketing event that will continue to drive sales, especially in the lash and nail categories, which grew with at-home use during the pandemic.
Two years later, while the industry has become somewhat saturated with competition, not all new brands are delivering on the promise of incrementality. The expansion in brand offerings has not impacted market share nor brought new consumers to these categories, as one would have expected to support all the new brands in the market.
If we have learned anything, we have learned that it’s hard to catch lightning in a bottle—the best and biggest companies in the world take 4-6 months or longer to bring a new product to market. It is also difficult to keep up with nail trends like those that blow up after Hailey Bieber walks out of the nail salon. In most cases by the time brands catch up to viral moments the trend is over.
Kiss’ consumer research indicates that one of the biggest barriers for entry into [artificial] nails and lashes is applying glue. Kiss has the solution with imPRESS Manicure & Falsies, no-glue nails and lashes, just press-on and go. Kiss’ strong innovation pipeline has more to keep consumers coming back to the brand they know and love with more exciting game changers for the categories we compete in.
Significant innovation takes time, and it takes research, experience and savviness. While there is always room for incremental competition that offers a real point of difference, retailers do not want to oversaturate categories with ‘me-too’ brands. In the future, we may see retailers creating more in-store ‘hot spots’ where brands can gain new distribution on a trial or promotional basis or even be available on dot com only.
Retailers will enjoy the most success sticking with brands consumers know and look for in stores that keep customers coming back with relevant marketing and new innovative products. KISS drives consumers into stores and is bringing new consumers to the beauty category year over year with new product launches in nail, lash and our emerging textured hair brand, Colors & Care.
To answer your question about if I had a crystal ball—my crystal ball says we must move past thinking that what happened during an unprecedented retail shut down is going to have relevance about what will happen moving forward and start really looking at what the consumer is asking for, work to anticipate trends, then deliver on that consumer proposition. We expect retailers will be leaning in with the brands that have provided the utmost support, innovation, and real partnership. These are the brands that have and will continue to deliver the most incremental results. Kiss will be one of those brands.
Scott Emerson, president, The Emerson Group
In 2023, many beauty companies witnessed an uptick in dollars but a decline in unit sales. Interestingly, only two retailers experienced increased units: Walmart and Aldi. This might shed light on why companies like L’Oréal Consumer Products Division faced challenges in unit sales due to heightened price consciousness among shoppers.
The recent stock market rebound, sparked by a robust job market, suggests a potential downturn in inflation, offering a glimmer of hope. While 2024 is anticipated to pose challenges, it sets the stage for a positive trajectory, paving the way for a full-scale industry rebalance by 2025.
This shift signifies a move from the current emphasis on retail pricing conversations, as consumers gradually revert to shopping without scrutinizing price tags. Normalizing prices, such as accepting a $6 Starbucks coffee, will make consumers less conscious. By 2025, this price sensitivity is predicted to become the industry norm, transforming how consumers engage with beauty products. The beauty industry is amid a recalibration, and by 2025, a new normal is expected to emerge, reshaping the dynamics of consumer behavior and market trends.
[Read more: Subtl difference]
Deborah Dixon, owner, Precious Mineralz
Regardless of size or market positioning, I think that retailers are going to direct specific focus to identifying new, innovative products/brands to help differentiate themselves from other retailers. I think there will be continued focus on development of products that a customer can buy online or in store, that enables them to have a full line of products that cleanse, moisturize, exfoliate skin that provide one-stop shopping. But they also want a ‘spa experience’ at home.
There will be continued focus on products for all skin types and tones. With focus on the environment, we will see more companies using upcycled ingredients and recyclable containers. There is some shift in the amount of influence that some current “influencers” have. I think some popularity is fading and that consumers are more savvy since the pandemic about ingredients and products.
Dana Steinfeld, senior vice president, brand incubation and product innovation, Maesa
As categories merge in consumer’s minds, brands are seamlessly expanding into multiple segments and aisles for more holistic product experiences. Defining by category has become obsolete. For example, hair brands are launching hand creams, fragrance brands are launching detergent and hair care, skin care brands are collaborating with indie brands in other categories like fragrance for example.
We are all seeking a holistic approach to wellness focused on maintaining mind and body balance through daily habits and behaviors that support physical, emotional and mental wellbeing. With this, natural and clean ingredient callouts continue to drive consumer appeal and drive purchase while consumers demand added functional benefits to enhance products, such as mood enhancing benefits in fragrance.
Sustainability in beauty has expanded to encompass a broader set of principles, incorporating ethical sourcing, clean formulations, eco-friendly packaging, social responsibility and transparency without compromising performance.
The redefined approach aims to create a positive impact on the environment and society while meeting the evolving expectations of the ultra-informed consumers. Driven by the medicalization of beauty and “skintellectual” consumer, consumers are seeking validated proof behind claims, clinically proven efficacy, long-lasting results, and a balance of nature merged with science.
Logan Bilderback, vice president of marketing, Beauty Partners, LLC
Looking ahead to 2024, we anticipate dominant trends to center around heightened environmental consciousness, emphasizing sustainable packaging and skin care-infused products. AI integration will further cater to our consumers’ needs as well.
For nails, we envision a drive toward healthier ingredients, championing eco-consciousness and sustainability. At Nailtopia, our pioneering patented formula—plant-based, superfood-infused, with AHA/PHA—ushers in the era of environmentally conscious beauty. Our partnership with Disney heralds an exciting future, while our focus on smarter packaging innovations for nails in 2024 and beyond propels us forward.
Similarly, eyebrows are poised for an eco-conscious makeover, integrating skin care elements into their formulations. Just as we care for the hair on our heads, maintaining eyebrow health is paramount. Arches & Halos leads the charge by infusing our pens and pencils with brow treatments, creating a dual-action product that both beautifies and nurtures.
In this ever-evolving landscape, brands must sharpen their awareness, align with consumer preferences, and swiftly introduce new tools to enrich the overall buying journey. It’s an exhilarating time for the beauty industry—one filled with promise and endless possibilities.
[Read more: The Lip Bar’s innovative inclusivity]
Paula Scandone, general manager and senior vice president, Shielded Beauty
Mass brands like CoverGirl/Maybelline have historically been what drug stores and Walmart have offered. This was because the prestige brands would not go into those retail distribution points. As we know more and more, the lines are blurred and not each point of distribution has the same customer. Walmart is adding more prestige brands and so is CVS. And there are also the partnerships—Target x Ulta and Sephora x Kohls and Walmart x Space NK.
CVS is really curating a nice range of brands that cater to the Gen Z demographic. I love what CVS has been doing and I think it is a huge credit to the merchandising team that they understand who their customer is, who they want as a customer and then finding the brands to bring that consumer into their stores and online to shop.
I think it will come down to meeting the consumer where they shop as well as offering brands that are meaningful and intentional. Every part of education around a brand is through social media on all platforms and if a brand speaks to the consumer, specifically Gen Z, that consumer will go where that brand is.
Daniela Ciocan, beauty expert and founder, Access Beauty Insiders
As wellness continues to experience the most growth, we will see more skin care products with health focused positioning. Look out for adaptogens ingredients becoming popular across leading markets worldwide.
Bioengineered ingredients will become more prevalent across beauty in both skin care and bath products. This trend will be driven by the fact that they are more sustainable to produce, while the fact that they are produced in a lab point to a more reliable supply, despite a growing incidence of adverse weather conditions caused by climate change.
Hybrid makeup will continue to evolve and blur the lines between skin care and makeup categories: clean formulas, active ingredients and more precise color matching will eliminate the need for heavy SKU lineups, ultimately delivering products that are good enough to sleep in.
The cost-of-living crisis has given way to huge demand for duped beauty products, with a growing number of lower-priced color cosmetic, fragrance and skin care products offering similar claims, packaging and fragrances to higher-priced prestige products. Expect to see this trend reaching a fever pitch as new dupe launches swell the number of offerings.
