The $430bn global beauty market is at the vanguard of innovation in e-commerce. From experimenting with video content to addressing consumer concerns about wellness, sustainability and diversity, brands are becoming skilled at selling personalized products in a virtual world.
Debuting with a report on Beauty & Personal Care published today, Category Insights is a new series from WARC Digital Commerce exploring the current state of a category from the perspective of the retailer, the consumer and the brand.
Gregory Grudzinski, Report Editor, WARC Digital Commerce, says: “In the virtual world of digital commerce, the Beauty & Personal Care category is a hotbed of marketing innovation. Successful brands are going beyond helping consumers improve their appearances to helping them discover and reveal their authentic selves.
“In this report we shed light on trends in this space, such as premiumization and the outsized influence Gen Z shoppers have on the category. We also look at top performers and share gainers to help understand how the top brands plan to stay on top, and how challenger brands are looking to unseat them.”
Beauty & Personal Care category is recession resistant and growing
In 2022, the global beauty market, encompassing beauty, personal care and fragrance, generated $430bn in revenue, and is forecast to grow 6% annually to reach $580bn worldwide by 2027, according to McKinsey. Largely resistant to inflationary pressures, only 13% of US consumers have reduced spending on personal care items in the past 12 months.
Also in 2022, e-commerce became the beauty category’s leading channel, claiming nearly a quarter (21%) of sales.
Category leaders increase paid retail media investment to stay ahead of competition
Analysis of WARC’s dComm Index, in conjunction with Perpetua’s sales estimates, found that in the US, brands including Maybelline New York, Lume and Versace are among the top category performers on Amazon. Their success has been underpinned by investment in retail media to increase paid share of voice (SOV) to stay ahead of their competitors.
In makeup and fragrance, 60% of the top selling brands increased paid SOV, with an average increase of 1.7% and 0.9%. The paid investment fueled an increase in organic share-of-voice in both makeup and fragrance of 1.6% and 1.2%, respectively.
Enhanced product content is key
Content, a core constituent of the WARC dComm Index, is key to driving sales. In its ‘2023 Consumer Research’ report, Salsify found 55% of surveyed consumers won’t purchase items with bad product content. Top brands have responded with the use of “enhanced product content”, which provides a more immersive and informative experience for online shoppers.
Following improvements to its product display pages (PDP), Amazon is set to overtake Walmart as the top US beauty retailer by 2025, with a 14.5% share of a market that could hit $180bn in value by 2025, according to analysis by Morgan Stanley.
Premiumization, social selling and the rising importance of sustainability and diversity are key consumer trends in the Beauty & Personal Care category
One of the biggest trends in Beauty & Personal Care is the emergence of “premiumization” – promoting unique product attributes to enhance the perceived value of a brand. Products marketed as “premium” are projected to grow annually by 8% between 2022 and 2027, according to McKinsey. By comparison, mass market beauty products are growing at 5% annually.
TikTok has become instrumental in elevating the premiumization concept, particularly among younger consumers. According to Voyado 73% of Gen Z are prepared to spend more on premium products.
A surge of new beauty brands that cater specifically to communities of color have raised expectations for all brands to create inclusive shade ranges. Kate Palmer, Insights Manager at Edge by Ascential, comments: “In the e-commerce space, I think there is still room to grow in helping customers find the right shade match for their skin. This is notoriously difficult to do online.”
Gen Z’s heightened sustainability awareness, where overconsumption is avoided, means younger consumers may be looking more toward consolidated beauty routines composed of brands and products they feel ethically connected to.
Category Insights is a new series of reports exclusive to WARC Digital Commerce subscribers. Published twice quarterly, they explore the current state of a product category and brand performance using proprietary WARC Digital Commerce dComm Index data. Each report includes actionable insights supported with evidence, examples and expert opinion.
A complimentary sample of Category Insights: Beauty & Personal Care is available to all here.
About WARC – The global authority on marketing effectiveness
For over 35 years, WARC has been powering the marketing segment by providing rigorous and unbiased evidence, expertise and guidance to make marketers more effective. Across four pillars – WARC Strategy, WARC Creative, WARC Media, WARC Digital Commerce – its services include 100,000+ case studies, best practice guides, research papers, special reports, advertising trend data, news & opinion articles, as well as awards, events and advisory services. WARC operates out of London, New York, Singapore and Shanghai, servicing a community of over 75,000 marketers in more than 1,300 companies across 100+ markets and collaborates with 50+ industry partners.
WARC is an Ascential company. Ascential delivers specialist information, analytics, events and eCommerce optimisation to the world’s leading consumer brands and their ecosystems. Our world-class businesses improve performance and solve customer problems by delivering immediately actionable information and visionary longer-term thinking across Digital Commerce, Product Design, Marketing and Retail & Financial Services.
With more than 3,800 employees across five continents, we combine local expertise with a global footprint for clients in over 120 countries. Ascential is listed on the London Stock Exchange.
About WARC Digital Commerce
WARC Digital Commerce uncovers what works in the rapidly-changing world of retail media and e-commerce with examples, evidence and expertise to inform strategic planning and improve business outcomes.
For further information, please contact:
Amanda Benfell
Head of PR & Press, WARC
amanda.benfell@warc.com
www.warc.com
Topic: Press release summary
Thailand, Ministry of Commerce is intent on implementing the “Thai Food, the World’s Food” policy to support the food demand of the global market that tends to grow in parallel with the increasing population by optimizing Private Sector-led policy with Government Supporting to reduce all barriers that could obstruct export activities and promote the Soft Power to make people around the world know and become fond of Thai food. He has also assigned the Department of International Trade Promotion to jointly organize THAIFEX – ANUGA ASIA 2023 with the Thai Chamber of Commerce and Koelnmesse in order to bring in more than 95,000 visitors from all over the world to be an active part of a trade negation with local Thai food and beverage entrepreneurs. This event is expected to generate a trade value of over 70 billion baht.
Mr. Jurin Laksanawisit, Deputy Prime Minister and Minister of Commerce, stated that food industry definitely plays an important role in the global economy. The driving factor that mainly affects this fundamental industry is global population growth which is estimated to reach 10 billion by 2050, from today’s figure of 8 billion. Such significant increase will correspondingly lead to fast-growing food demand. For this reason, many countries become aware of possible food shortage that may arise in the future. Although they have active Food Self-Sufficiency policies on hand, it could be insufficient when considering the actual population trend.
“Thailand has maintained its real strength in the food industry due to its uninterrupted abundance. The country is a source of many important agricultural products such as rice, vegetables, fruits and cassava. It is also well known for excellent food processing know-how, inventions of food innovation, safety standards, and sustainability concept. Moreover, Thailand is able to serve the global market’s quick changing demand and has the potential to export in such an excellent way that it has been named the kitchen of the world. The Ministry of Commerce’s dynamic Thai Food, the World’s food policy also made Thailand the 15th biggest food exporter in the world in 2022 with an export value of 1.36 trillion baht, a 22.7% increase from the previous year” said Mr. Jurin Laksanawisit.
He also added that part of the remarkable success in Thai food export comes from the government and the Ministry of Commerce’s cooperative policy that provides concrete support for export activities by applying Private Sector-led policy with Government Supporting. This method lets the private sectors with high expertise take the lead and the government co-assists by reducing all kinds of export obstacles, setting up a joint committee on commerce to define a concrete export strategy, work together closely to solve problems on site, and proactively find solutions for rapid accomplishment.
Another highlighted policy is the promotion of Thai food Soft Power with the purpose of making people around the world know and adore Thai food with its unique charm. This will in turn lead to a higher demand for Thai products and services. The Department of International Trade Promotion has taken vigorous action in this regard and will relentlessly continue its mission.
“THAIFEX – ANUGA ASIA 2023 is actually another important part of moving forward Thai food as a hub of the Word’s Food. This event repeatedly emphasizes the potential of Thailand as a leading producer and exporter of world-class quality food and is a major annual platform that allows Thai entrepreneurs to meet, do a trade negotiation and form business networks with importers around the world, increasing their opportunity to expand their export to overseas markets. The great on-site edition of THAIFEX – ANUGA ASIA is back again this year, same as before the COVID-19 pandemic, while its online edition THAIFEX Virtual Trade Show is also available to serve those who look for convenience without a need to travel”, said Mr. Jurin Laksanawisit.
In this year event, at “THAIFEX – ANUGA ASIA 2023”, more than 3,000 exhibitors, including Thai and international exhibitors, are present with almost 6,000 booths from over 40 countries. More than 95,000 visitors from 140 countries with trade value over 70 billion baht for Thailand are expected.
Hilight day 1: 23 May 2023 – https://youtu.be/3Zf6Ay3EZ5c
Ministry of Commerce & Industry
Posted On:
14 MAY 2022 6:30PM by PIB Mumbai
Mumbai, May 14, 2022
The Union Minister for Commerce and Industry; Consumer Affairs, Food and Public Distribution, and Textiles, Shri Piyush Goyal held a day-long stakeholder consultation with various sectors of the industry in Mumbai today, on India’s ongoing negotiations on Free Trade Agreements with Canada, the United Kingdom and the European Union. The Minister had separate meetings with representatives of automobiles, gem and jewellery, textiles, steel, copper and aluminium sectors. The hybrid interaction had industry leaders and associations attending both in person and online.
The Commerce Minister apprised the industry as to how the Agreements that are being negotiated will elevate the overall economic and commercial relations with respective partner countries which in turn will not only benefit bilateral trade but also create new jobs and provide wider social and economic opportunities. Shri Goyal stressed on the potential benefits – both direct and complementary spill-over economic benefits, including increased investment, job creation and employment opportunities.
While appreciating the accommodative spirit of the Industry, the Minister urged the industry representatives to continue to support the trade negotiations in the same spirit in the wider interests of the nation, contributing to the holistic development of multi-sectoral economic value chains in the country.
The industry representatives thanked the Minister for entering into FTAs with UAE, Australia and other nations, that too at such a fast pace fulfilling a long-lasting dream for many of them. Further, all the stakeholders expressed gratitude to the Minister for taking into consideration concerns of Indian Industry and provided constructive inputs on this matter with a view to ensure overall balance between market access and domestic sensitivities.
A non-exhaustive list of Trade bodies/Associations/EPCs that participated in the consultations is given below.
|
Sl.
No.
|
Sector
|
Trade Bodies/ Associations which participated
|
|
1.
|
Automotive Industry (Automobiles/auto components)
|
|
|
2.
|
Gems and Jewellery
|
|
|
3.
|
Textiles
|
Promotion Council
|
|
4.
|
Steel
|
|
|
5.
|
Copper
|
|
|
6.
|
Aluminium
|
|
***
PIB MUMBAI | DJM/PK
Follow us on social media: 
@PIBMumbai 
/PIBMumbai 
/pibmumbai 
pibmumbai@gmail.com
(Release ID: 1825389)
Visitor Counter : 752
George Wojciechowski is the industry veteran leading the logistics movement towards a greener supply chain with carbon-neutral fulfillment and zero plastic solutions.
AUSTIN, Texas – Aug. 17, 2021 – PRLog — Today Manifest formally announces the launch of its sustainable fulfillment business led by CEO George Wojciechowski, formerly co-founder of ShipBob.
Manifest’s mission is to disrupt one of the dirtiest global industries, supply chain logistics, by offering earth-friendly third-party logistics solutions. The company promises omnichannel retailers carbon-neutral fulfillment, zero plastics, recyclable packing materials, and green warehousing.
“The average age of today’s e-commerce entrepreneur is around 40 with many being much younger. These individuals are deeply concerned about the future of our planet, as are their customers,” says CEO George Wojciechowski. Manifest offers a solution that integrates into their business while also satisfying their desire for climate action.
Wojciechowski is a seasoned fulfillment expert, having co-founded tech-enabled third-party logistics company ShipBob, which was recently valued at over $1 billion.
The industry veteran was inspired to tackle retail logistics sustainability problems when consumer online shopping skyrocketed during the COVID-19 pandemic. In 2020, total e-commerce packaging waste reached 295 million tons, 60% of which were non-recyclable plastics. These plastics will take more than 500 years to break down and will clog landfills and oceans in the meantime.
“I have 3 young nieces and a nephew under five years of age,” says Wojciechowski. “When I think about the world they are inheriting I realize I need to use my expertise to ensure it’s a clean one. There is no Planet B after all.”
Wojciechowski tapped fellow industry pioneers Bob Sixsmith (former ShipBob General Manager), Max Stevens (founding member at ShipBob), Jen Root (marketing entrepreneur and e-commerce strategist), and Matt Bocker (former ShipBob growth expert) to round out Manifest’s leadership team. Together the executive team has decades of industry experience. “We all love retail logistics but what really brought us together was our passion for climate action,” says VP Marketing, Jen Root.
At launch, Manifest is offering retailers of all sizes sustainable fulfillment services, seamless tech integrations, and efficient warehouse management. All materials are recyclable and biodegradable using zero plastics, and carbon offsets to help ensure carbon neutrality from end to end. “While Manifest’s driving force is sustainability, we recognize that retailers demand efficient fulfillment as well,” says VP Fulfillment Max Stevens. To that end, the Manifest technology connects seamlessly with Shopify, WooCommerce, Magento, and BigCommerce stores as well as customized big-box retailer technology.
The Manifest team believes a sustainable fulfillment model is possible when building the fundamentals into the business operations from the ground level. “The goal is to create operational efficiencies for retailers with minimal impact to the environment,”
A key part of the sustainable model Manifest is building is its partnership with EcoCart (http://ecocart.io/
Manifest is proud to support e-commerce retailers on their quest to be greener. But Wojciechowski says his vision is even broader: “We don’t want to be doing this alone. The ultimate goal is to drive change for the entire industry and lead the logistics movement towards a greener supply chain. Our planet demands it.”
Learn more at www.manifestcommerce.io.
