When it comes to skin care and cosmetics, today’s millennial consumers have savvy requirements around what they expect from the marketplace.
While demand for performance remains paramount, it coexists with a variety of other expectations. It is fair to say the diverse consumers who reached young adulthood around the year 2000 want it all.
Although millennial consumers worldwide seek more from beauty care products, the list of demands is complex. This is particularly true in Asia, where skin care innovation moves at a rapid pace,1 and consumers have an ever-expanding array of options.2 Products must be multifunctional: foundations and skin lotions with sun protection have clearly taken hold on a global scale, as have alphabet creams originally from Korea, which not only provide a moisturising effect, but also a burst of natural colour and a more even skin tone. At the same time, the desire for products tailored for individual needs continues to expand.
Consumers are less easily satisfied by ordinary experiences with their beauty and personal care purchases. Those that deliver a delightful experience or instant gratification stand out, and millennials in particular are drawn to products that suggest discovery and play – in short, cosmetics that are fun. Attention is on new, exciting and unique experiences that come with heightened stimulation of the senses – including texture, product form, aroma and lasting feel on the skin. Consumers also want to feel ‘royal’ by using products that represent accessible luxury. They desire access to benefits and memorable experiences previously reserved for highend brands.
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