Throughout the past 10 years, the world of innovation has developed huge amounts at a time. With new technological progressions, comes a change of the typical ordinary way of lifestyle. The world of social media is by all accounts one of the progressions that has most impacted the way in which people experience their lives. Social media is engaged with basically every part of people's lives. At work, the top form of communication is email. In your personal life, the method of communicate and keep up to date with your friends is through Facebook, Instagram, Twitter and Snapchat. While shopping for anything whether it be clothing, kitchen appliances, or another bronzer people are turning to social media and the internet. As I was thinking about a topic I was keen on exploring, I understood that the beauty industry appears to be one of the top industries that have been intensely impacted by the ascent of social media.
Beauty has always been an experiential cycle, for the basic truth that you can't really 'see' beauty in the way that you can see fashion. Known for facing challenges, the industry has forever been the first to take advantage of new opportunities as they've come along, to help demonstrate and carry products to life for the consumer. Whether that implied spraying the most latest fragrance in a retail store, offering a 'free gift' with purchase, selling beauty inside the home or posting as a month to month subscription box, the sector has always been eager to evaluate new things and especially those that wouldn't be possible in other marketplaces. In beauty, talent-led marketing has turned into a fast-paced industry, and this has decisively impact on brands within the sector.
Most importantly, it has pushed the worldwide beauty industry, worth $500 billion, to turn out to be more creative, transparent and accessible, with a need to get the consumer to each stage of the process. With consumers turning out to be progressively savvy at spotting when they are being offered to, the beauty industry has perceived that while celebrities can still be successful at helping to launch off a brand or product line, their contribution should now go far more deeper than a traditional endorsement deal, and what's more the situation for taking a tiered approach incorporating digital and arising talent likewise has become more stronger than any time in recent memory.
The Dramatic Change in Consumer Behavior
A further matter to consider is that purchasers are no longer looking for beauty in the way that they used to. There are many factors affecting everything here, and beauty experts talked with for the report expressed reasons, for example, a volatile economy, the decline of high street shopping, dying on customer groups, inherent challenges with buying beauty online, over producing, messages of maintainability, plastic- free and cruelty free, which combined are breaking every one of the established rules of consumer behavior known to the beauty industry. Companies used to know how to sell their items to consumers, but because of the way in which social media has changed the game, companies are starting to depend heavily on social media influencers and trust this new 'strategy' will find success.
The Takeover of Indie Brands
Last year was a defining year for indie beauty, and in numerous ways reflective of this change in consumer behavior, alongside evolving preferences and tastes. Start up, independent beauty brands have quickly started to steal market share from well-established players, offering something that is far more open and grassroots, with an eminent cool factor. Mergers and acquisitions and infusions of capital in this space have soared, and there's no question that the power of social media influencers, alongside their willingness to share their enthusiasm for arising indie brands and the qualities they stand for, like clean, organic beauty and wellness; has assisted with making a more level playing battleground.