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Insight of the Day: How to win over… Asia’s sophisticated skin care consumers

Findings:

  • The Asian skincare market is booming, exceeding pre-pandemic levels in many countries.

  • Consumers are prioritizing efficacy over brand prestige, often mixing high-end and affordable products.

  • Younger generations, particularly Gen Z, are showing increasing interest in skincare, focusing on prevention and early intervention.

Key Takeaway:

  • Brands need to prioritize innovation, efficacy, and transparency to cater to a more discerning and diverse consumer base.

Trend:

  • Growing demand for multi-functional, high-performing products that address multiple skin concerns and simplify routines.

  • Resurgence of "hero" ingredients like retinol and hyaluronic acid, as well as new ones like recombinant collagen.

  • Rising popularity of natural and organic alternatives with proven efficacy.

It is about whom:

  • Primarily Asian skincare consumers, including both older generations seeking anti-aging solutions and younger generations (Gen Z) focusing on preventative skincare.

Description of consumers/products:

  • Consumers are increasingly knowledgeable and demanding, seeking products that deliver tangible results.

  • They are open to exploring a wide range of products from different brands and price points, both local and international.

  • Products that are multi-functional, high-performing, and contain natural or scientifically-backed ingredients are in high demand.

Age of consumers:

  • All age groups, with a particular focus on Gen Z (born between 1997-2012) and Millennials (born between 1981-1996).

Conclusions:

  • The Asian skincare market is highly competitive and dynamic, with consumers who are increasingly discerning and demanding.

  • Brands need to prioritize innovation, efficacy, and transparency to meet consumer expectations.

  • The rise of younger consumers presents a significant opportunity for brands to cultivate long-term loyalty.

Implications for brands:

  • Brands must invest in research and development to create innovative and effective products.

  • They need to clearly communicate the benefits and ingredients of their products to build trust and credibility.

  • Brands should consider offering personalized skincare solutions and experiences to cater to individual needs.

  • They must stay ahead of emerging trends and be adaptable to changing consumer preferences.

Implications for society:

  • The growing focus on skincare reflects a broader trend towards self-care and well-being.

  • Increased awareness of skincare ingredients and their potential benefits could lead to better-informed consumer choices.

  • The rise of natural and organic skincare options could contribute to a more sustainable beauty industry.

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