Schneidman estimates that 95 percent of fashion brands’ fragrances and personal care lines are licensed. Exceptions include Chanel, the LVMH group and Dolce & Gabbana, which pivoted in February to bring beauty back in-house. Rumors have been circulating since August that Kering plans to do the same. However, groups like Coty and L’Oréal will continue to play an important role as “many celebrities and fashion houses don’t have the ability to [manufacture and distribute products] for themselves,” he adds.
Meanwhile, growing awareness of misinformation, fake reviews and so-called sponcon means consumers are asking more questions about products, ingredients and efficacy, says Olivia Houghton, deputy creative editor for prospective and lead beauty analyst at The Future Laboratory. , which identified accreditation as one of the defining beauty, health and wellness trends for the year. Amid rising inflation and resulting price hikes, as well as a more health-focused mindset since the pandemic, research, evidence, proof points, and facts can help brands foster understanding, confidence and positive sentiment among consumers, he says. “Hard data and science are restoring confidence to the beauty industry that has often been fueled by inflated claims and superficial results.”
Brands are already getting more meticulous about the claims they make. Science-oriented skincare company Deciem, for example, has a regular PR team, as well as a dedicated science communications team, whose “responsibility” is to ensure it “does not mislead consumers about the benefits of the product.” “, according to the company. The two work hand in hand. “We make sure that all educational content and product efficacy claims are true, can be supported by clinical trial data, and are not misleading our customers.”
Whats Next
Looking ahead to 2023, science and technology can help protect beauty brands against future shocks, secure supply chains, and provide new ideas for products and experiences, says Houghton of The Future Laboratory. “Brands can position their internal expertise as their USP and make scientific innovation their point of difference in a saturated market.” With corporate responsibility continuing to be a top priority, brands need to think beyond slapping a blanket term like “vegan,” “clean,” or “natural” onto a product, Schneidman adds.
One of the categories ripest for disruption is fragrance. Byredo is testing how a fragrance looks or smells in the digital realm. In June, the fragrance brand partnered with digital fashion startup Rtfkt on 26 wearable digital “auras.” Virtually rendered ingredients represent emotions that consumers can select to use online to express their mood.
Maintaining a seamless omnichannel experience will continue to be paramount, says Schneidman. “Online is the best place to build awareness, find your customer, learn and validate your product. But the cost of acquisition online is expensive,” he says. “Consumers want to smell, feel and look at a product [so] The physical store returns. Beauty is a unique category that is at once emotional, functional, and transformative. And with that, people want to have a personalized experience and [the ability] to test the product [online and offline].”
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Source: news.google.com