Future Of Beauty: What Are The Prospects For Aspiring Students
As the industry involves, what can students expect and prepare for in the beauty industry?
A future in the beauty industry has proved to be a secure one. The Industry is evolving and currently booming. 31.3 per cent of consumers have shopped at least one product during 2020, making the beauty industry rank 4th largest. Let’s see how the beauty industry has evolved and what are segments that students and professionals in the industry need to look out for.
Shift In Consumer Behaviour
The pandemic has significantly changed consumer behaviour and has led to the rise of digitalization, the importance of hygiene and the revival of self-care have, which have all contributed to reshaping the industry. The beauty industry is leading and engaging the consumer by transforming real-time and adapting to the new normal. For example, beauty brands started formulating hand sanitisers and other essentials in these trying times.
Disruption In The Industry
Buying habits are definitely changing and digital mediums enable the new-age customers to experience brands most interactively. The Gen Z buyer expects communication and builds a direct relationship with the brand. On the other hand, brands are also incorporating measures to put their consumers at the core of the product to make the most of their initiatives. The industry is undergoing massive disruption as the brand shifts from brick and mortar product-based model to experience-based concepts. It is no longer just about the product, now the users are looking for a fully interactive experience with the brand becoming part of their lifestyle.
Increased Social Media Engagement
Certainly, Social media plays a vital role in being the number one catalyst in redefining the beauty sector. It has completely changed the way brands connect with the user and also led to new opportunities. The social media platforms like Instagram and YouTube have transformed consumer behaviour, marketing techniques, sales channels and driving the creation of new products. The brands that have been able to cope up well with the new change quickly have unlocked whole new revenue streams.
Now that you know how the beauty industry has evolved and developed, here’s what you need to succeed in the beauty arena. These takeouts will help you stay nimble.
Being technology advanced is the ‘IT’ quality required to succeed. It is extremely essential to understand the importance of technology and its significance in the beauty arena. With the beauty industry shifting to digitalization, it has become more important than ever before to keep up with the evolving transformation and utilize it to its optimum level. Now, every beauty brand has its own app with its unique features to make them stand out in the market. The dotcom is the dawn, and staying at par with the change is the only way to get through and succeed.
Establish a Relationship with the Consumer
It will not only help you enrich the brand experience but also allows you to track evolving habits and trends. It helps you innovate around the evolving user needs. It is very important to understand that knowing your customer is the key to a successful brand. If you know what your customer wants, it is easier to communicate, develop, build a strong brand foundation and customer loyalty.
A Knack For New Trends
In the industry of cut-throat competition, be unique. Create your own unique selling point (USP) and play around with it to keep it trending. Keeping up with the new trends will open up a broad spectrum of opportunities and help you stand out.
Digitalization is not only transforming the online experience but the physical too. Take packaging, for instance, now packaging is considered to be a significant part of the consumer experience. In the age of social media, brands are more inclined towards offering aesthetically pleasing packaging to make it more Instagram-friendly. From recyclable packaging to refillable products, packaging plays a huge role and is considered one of the most touted interests.
These carefully researched and curated tips and trends will help you get ahead in the beauty industry and advance your career. If you are looking to be part of the beauty arena, this is perfect to get you started.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house
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