Updated: Mar 2
The beauty industry has many options for users to level up their skincare game. It has grown and evolved over the last decade to incorporate various memorable trends. Unfortunately with every positive, comes negative, and the beauty industry has been no exception, having seen a fair share of downfalls, setbacks, and threats to the overall growth and progression of the industry, brands, and its prominent figures. Mike George, the president and CEO of QVC, recognized these threats early on, having stated, “There is a collapse of institutional and brand authority.” He believes there are four reasons for the changes in the way we view the beauty industry today:
Erosion of trust in society
Race to the bottom (he’s referring to everyone trying to compete by selling at the lowest price)
Craving for authenticity
Shifting sources of influence.
Overall, trust in the institution has diminished, and beauty consumers have altered the way they decide which products to purchase. Now more than ever, consumers have the power and access to learning if products are a hit or a miss with avenues like TikTok and YouTube. Beauty buyers are ahead of the curve when it comes to finding out about new brands or products via reviews or the opinions of others. The latter becoming the primary source for many, whether in the form of recommendations/comments on social media, posts from expert bloggers, or celebrity endorsements. And with 45% of consumers in this segment saying they mainly look to consumer reviews for online research before purchase, the impact of brands encouraging this organic boost to brand awareness is evident. Especially when nearly 1 in 2 say they’re motivated to complete purchases online after reading reviews from other consumers.
With the plethora of beauty brands, products, advertisements, and information out there…where do you start? How do you determine the credibility behind each review and critique? There are so many different search engines and keywords that can make shopping for beauty products overwhelming. Here are some of the go-to tips and tricks to help you make these decisions with ease:
If you haven’t already, download the Reauty App to get the lowdown on all product ingredients and different brand pillars. It combines social media, product rating, eCommerce, and AI-powered skin analyzing functions to empower beauty seekers to make the best decisions on their self-care journey.
Follow various beauty gurus to give you unfiltered feedback on seasonal and fan-favorite products.
Look at the results! Whether it’s from friends or influencers who’ve used the product, especially when it comes to skincare products because those outcomes never lie!
Utilize the samples from Sephora or other beauty stores to experience them for yourself without breaking the bank.
Test products on a small patch of skin before doing full coverage. It will save your skin and some potential tears.
Taking the time and doing your research will save lots of money and stress in the long run. It can be tedious but will be worth every minute of your time. Fabrizio Freda, the President & CEO of Estee Lauder, noted that he spoke at the conference in 2010 when there was no Instagram. Now there are 700 million Instagram users. “We are shifting channels and preferences that are profoundly changing the industry. We aren’t simply moving from point A to point B, and change is flowing like the current of the ocean.”
With the different shifts and turns of the beauty industry, it’s exciting to have new concepts and people taking the lead. It’s an opportunity to listen to another point of view while creating your perspective that could potentially help others navigate the same questions you had. Comment below some tips you’ve found successful with your go-to beauty products!