Three key trends are predicted to fuel the beauty industry in 2015, namely customisation, internet-born brands taking on beauty and Asia's impact on NPD.
The predictions, made by Euromonitor International, are influenced by the key innovation drivers observed in 2014, which are expected to further dominate NPD in the coming months.
The trend for customisation is expected to be driven by a greater demand for higher-efficacy alternatives, according to Nicole Tyrimou, Beauty and Personal Care Analyst. Tyrimou noted that multi-national brands and niche players have both fully embraced customisation in their NPD strategies. She cites Clinique's Smart Custom-Repair Serum, which launched in the US last July, as a launch that has arguably achieved the biggest commercial success, while Geneu, which offers DNA testing on the high street, is perhaps one of the most bespoke of all innovations in 2014.
Meanwhile, the trend for internet-born brands taking on beauty is predicted to gain ground in 2015. Tyrimou uses The Dollar Shave Club, Glossier and Beautycounter as three examples of the trend in action last year. Glossier, which was created by the founder of beauty blog Into the Gloss, Emily Weiss, uses the concept of an online community to support its product offering, which centres around four products: a moisturiser, balm, facial mist and foundation. The brand launched on Instagram and was exclusively distributed online from Glossier.com.
Finally, the influence of Asia on NPD in other regions is expected to continue as it has done in recent years. In particular South Korean beauty brands such as Hera and Etude House have influenced certain launches in Western markets, with Asian brands known for having a more complex approach to innovation. A recent example of this is the breakthrough of cushion compacts on Western markets; Lancôme is due to launch its version, Miracle Cushion, next month (pictured).
