Photo Credit: Carol Seitz
A decade ago, we lived without BB creams, facial wipes (let alone the other type), and at-home laser hair removal systems. So can you imagine what the beautymakers have planned for the next couple of decades? The graduating class of the FIT Cosmetics and Fragrance Marketing and Management Master’s Degree Program can, and they presented their research to the beauty industry on June 4.
In partnership with Unilever NA, the students investigated The Changing Face of the Beauty Consumer for the 2014 Capstone project, the culminating requirement for their degree. Divided into three groups, the research looked at three key concepts: Accessible Beauty, The New Beauty Consumer, and Men’s Beauty.
Beauty retail franchises (think Subway for makeup) and complete transparency about the cost of ingredients and packaging will be stapes of the future beauty landscape in 2030, according to the Accessible Beauty group. They also foresee a global middle class, but one that does not spend money frivolously. Shoppers will demand convenience, clarity, and cash value of their purchases. Dubbed Progressive Rationalists, these future beauty shoppers will be “price conscious because they are more globally aware and technology allows them instantaneous information,” said Dudley WIlliams, director. L’Oréal.
What’s even more astounding is the type of products to be sold. The New Beauty consumer research said that by 2050, a different skin tone will be born everyday. That means a total rethinking of how color cosmetics will be sold. “By 2050, the largest ethnic group in the US will be mixed ethnicity,” said Roshini Greenwald, assistant vice president of sales development, Kiehl’s Since 1851. Such genetic traits as red hair and blue eyes will be characteristics of the past, and according to National Geographic, future women will look similar to the woman above.
Men too will be part of this future beauty landscape. With many beauty trends originating in Korea, the students looked there for the future of men’s skin care. “With a male population of only 1/5 the size of the US, Korea’s men’s skin care business is 2.5 times larger,” said Simone Bolotin, director of US Public Relations, Coty Prestige. One of the reasons for this is that men appear in beauty advertisements for women’s products as well as men’s. So come 2030, expect to see more men in ads for moisturizers and makeup.
Conceived as a think tank for the beauty industry, the FIT master’s degree program admits mid-level managers, who are already working for a beauty company. The Capstone research is made available to the industry and the public. To read the research white papers, click here.