The cosmetics and personal care industries stand on a precipice of change. In this, the final instalment of a four-part series on long beauty and the shift to optimized living, Cosmetics Design delves into sustainability as informed by proprietary research analysis from The Future Laboratory, presented at the annual Cosmetics Executive Women global trends event this month in New York City.
Stress costs the US economy $300bn in sick days, lost productivity, and staff turnover, according to data Claire Hobson, EVP global business director of The Future Laboratory, shared at the recent CEW event. On top of this, today’s products and services compound that stress or do nothing or little to limit it, she said.
Symbiotic sustainability among businesses, the natural environment and consumers would have the most positive effect on all stakeholders. With this in mind, The Future Laboratory encourages beauty brands to “provide whole-system beauty.” Such a strategy will deliver beneficial, effective products to consumers, lasting revenue streams to companies and do more good than harm to the planet.
Conservation makes sense. And companies looking to source ingredients for the long haul need to focus on what Hobson calls “’pre-vival’ rather than survival.”
Fragrance and Flavor manufacturer Givaudan saw the wisdom in this and consequently, as Cosmetics Design reported, launched a patchouli oil sourcing initiative. Farming partnerships and on-site Givaudan collection managers in places like Indonesia and Malaysia “now provide most of the patchouli oil required by the company,” noted a statement from Givaudan.
Consumers appreciate socially and environmentally ethical companies and want to be a part of a truly closed-loop supply chain. “End-to-end transparency and strategy is a driver of loyalty even in the culture of immediacy.” Consumers are “looking for brands that really do care,” Hobson explained.
In the previous instalments of this four-part Age Before Beauty series, Cosmetics Design considered longevity, curiosity and activity. These alongside sustainability will shape the future. And the continued success of the beauty industry depends on the ability to transform businesses and brands to align with these very real dynamics.