Monday, July 22, 2024
Google search engine
HomeMedia NewsLack of loyalty means plenty of opportunities for Thai beauty brands

Lack of loyalty means plenty of opportunities for Thai beauty brands

BANGKOK, May 8, 2024 /PRNewswire/ — Thai consumers exhibit a penchant for experimentation in beauty and personal care products. Mintel research shows that nearly half (48%) of consumers are prone to shift to new beauty brands, emphasising the need for brands to tailor their engagement strategies to various market demographics.

“The colour cosmetics sector is exceptionally dynamic, with trends evolving rapidly in parallel with fashion and lifestyle shifts. Consequently, brand loyalty in the colour cosmetics realm is limited: consumers eagerly adopt trends and readily embrace popular products and brands currently making waves, often led by social media,” said Chayapat Ratchatawipasanan, Principal Beauty & Personal Care Analyst, Mintel Reports Thailand.

There’s no one size fits all: Target consumers based on demographics

While considered makeup newcomers, Gen Z consumers aged 18-26 increasingly incorporate the category into their daily routines, with 21% saying they wear makeup to university. Mintel’s report suggests that this generation seeks empowerment and confidence through cosmetics, as 34% want brands to communicate positive messages.

Meanwhile, over a third (35%) of Millennials aged 27-42 like to buy products that are trendy on social media. Their engagement extends beyond consumption of beauty content, with 26% contributing product reviews and 23% participating in online beauty communities. According to Ratchatawipasanan, brands aiming to capture this demographic’s loyalty can focus on fostering online communities and celebrating influencer autonomy.

When it comes to Gen Xers aged 43-58, over two-thirds (67%) still enjoy consuming beauty content (e.g. videos or reels) but their interest in wearing makeup is waning: 28% say they are confident in public without it. Moreover, nearly half (48%) prioritise colour cosmetics that provide skincare benefits, signalling an opportunity for brands to align with this demographic’s desire for innovative makeup solutions addressing skin concerns and positive ageing messages.

Hybrid cosmetics continue to trend

Following the pandemic, the colour cosmetics category pivoted to hybrid offerings to help consumers transition back into wearing makeup. Data from Mintel Global New Products Database (GNPD) shows that global launches in colour cosmetics mentioning ‘skincare’ grew from 15% to 26% between October 2018 and September 2023.

“The desire for healthy-looking skin, alongside the growing bare skin trend, will continue to drive demand for cosmetic products with skincare benefits,” Ratchatawipasanan added. “These products offer a natural look suitable for everyday wear, appealing to Gen Z, while also catering to the skincare needs of older consumers.”

Foundation (42%), lip makeup (20%) and concealer (15%) emerge as top categories for new product launches featuring skincare claims between October 2022 and September 2023 according to Mintel GNPD.

“Given tighter budgets, this trend reflects consumers’ desire to maximise their beauty investments while enjoying the added benefits of skincare,” he said.


Google search engine

Most Popular

Recent Comments