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Insight of the Day: Inclusive Beauty Brands Grow 1.5X Faster than Less Inclusive Brands

Findings:

  • Research by Circana and SeeMe Index revealed that inclusive beauty brands grow 1.5 times faster than less inclusive ones.

  • Certified Inclusive Brands saw an 18% collective growth rate, outpacing the industry average of 12%.

  • The most inclusive brands consistently demonstrate inclusivity across consumer touchpoints, meaningfully engage with diverse consumer identities, and maintain transparency regarding progress on inclusivity efforts.

  • Inclusive brands are more likely to feature older adults and portray diverse relationships in their advertisements.

Key Takeaway:

  • Genuine inclusivity is not only a moral imperative but also a key driver of business success in the beauty industry.

Trend:

  • Consumers are increasingly demanding and rewarding brands that are truly inclusive and represent a diverse range of individuals.

Consumer Motivation:

  • Consumers want to see themselves represented in the brands they support and feel valued and understood.

What is Driving the Trend:

  • Shifting societal values that prioritize diversity, equity, and inclusion.

  • Growing awareness and empowerment of marginalized groups.

  • The power of social media to amplify voices and hold brands accountable.

Who the Article is Referring To:

  • Beauty brands

  • Consumers, particularly those who identify with marginalized groups

  • Industry analysts and researchers

Description of Consumers' Product or Service:

  • Beauty products across various categories

Age of Consumers:

  • The study highlights the importance of representation for consumers of all ages, including older adults.

Conclusions:

  • Inclusivity is a crucial factor for business growth in the beauty industry.

  • Brands that prioritize genuine inclusivity at every level will outperform their less inclusive competitors.

  • Consumers are increasingly discerning and can recognize the difference between performative and authentic inclusivity efforts.

Implications for Brands:

  • Embed inclusivity into all aspects of the brand, from product development to marketing and communication.

  • Go beyond token representation and actively engage with diverse consumer identities.

  • Maintain transparency and accountability regarding inclusivity efforts.

  • Recognize that inclusivity is an ongoing journey and requires continuous commitment and improvement.

Implications for Society:

  • Increased representation and visibility of diverse individuals in the beauty industry can contribute to greater social acceptance and self-esteem for marginalized groups.

  • The beauty industry has the potential to be a powerful force for positive social change by promoting inclusivity and challenging narrow beauty standards.

Big Trend Implied:

  • The rise of conscious consumerism, where consumers consider a brand's social and ethical values when making purchasing decisions.

Implication for Future:

  • Inclusivity will become even more critical for brands' success as consumer expectations evolve.

  • Brands that fail to embrace genuine inclusivity risk alienating a significant portion of the market and damaging their reputation.

  • The beauty industry has the opportunity to lead the way in creating a more inclusive and equitable world.

Name of Trend:

  • The Inclusive Beauty Movement

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