The trend mapping company undertook extensive research on current developments in the industry to pull together conclusions on the areas likely to have a major impact on its direction, up to and beyond 2020.
The company launched the findings of its research in a white paper at the recent Cosmoprof Bologna trade event.
Its four key predictions for trends set to define the beauty industry over the coming years are:
- Next Generation Genetics
- The All-Clusive Consumer
- The Always-On Assistant
- Nature Hacking
Petah Marian, Senior Editor Retail Intelligence, WGSN said: “The global beauty industry is undergoing seismic change that will call for vast innovation and adaptation.
“Our beauty regimes will only become more holistic and personalised come 2020, thanks to technological advances in fields from ecological sourcing, to AR/VR applications and DNA tailoring." The full paper is available here.
Next generation genetics
‘Next Generation Genetics’ envisions a focus on emerging technologies combined with a back-to-basics focus on our unique physiologies, explains WGSN, with DNA and medical history playing a leading role in ultra-bespoke beauty solutions.
It taps firmly into the ever-rising demand for personalised and customised skin care solutions.
“Inspired by the health and wellbeing trend, consumers will receive a list of scientifically selected skin care ingredients for them, recommended based on their DNA analysis that can be done with a cheek swab,” the company explains.
The all-clusive consumer
Continuing to build on this increasingly widespread attitude among consumers that ‘one size does not fit all’, WSGN predicts that we will see the market opening up to a diverse set of dermatological needs and skin tones.
The spectrum of people interested in beauty and skincare will also be better recognised, the company says, with the likes of Maybelline, L’Oreal and Rimmel London already leading the charge with the rise of male make-up stars and genderless products.
The always-on assistant
This trend encompasses the changes of the consumer journey, which is set to be elevated with the introduction of ever-more interactive technologies.
These technologies are tipped to enhance both online and real world experiences through the use of VR training tools and AR-assisted make-up discovery, the company explains.
“The physical retail space will take on a different kind of role, focusing on education, events and entertainment to drive footfall into stores,” the company predicts.
Nature hacking
This trend will see beauty products also reflect a stripped-back, natural and sustainable offering. Think proteins derived from salmon and rapeseed waste for nutrient-rich skincare, to cosmetics colored using red radish, pink sweet potato and elderberries.
Biotech and biomimicry have been playing an increasingly dominant role in the industry of late, and the trend forecast company suggests this is set to continue.
“Think waterless solutions, re-fillable makeup products and plant coloring,” WGSN says.