The $186.6B global skincare market is no stranger to fast-paced trends and constantly changing consumer preferences. As the market is so diverse and filled with consumers of all ages, races, and backgrounds, it can often take work to keep up with the ongoing evolution of the skincare category. Investigating this industry sector, Avon has released the Future of Beauty Report: Skincare Edition, which outlines the global emerging skincare trends of 2024 so far. The report highlighted cultural, economic, and societal shifts affecting women's current skincare choices based on a study of 7,172 individuals in the UK, Italy, Poland, Turkey, South Africa, the Philippines, and Romania. BeautyMatter outlines the key statistics worth noting.

Skincare Influences

The study suggests that consumers regard anti-aging as less of a priority when purchasing skincare than in previous years' findings. The report affirms this trend began to show at the beginning of 2022, when 50% of women agreed the pandemic made them realize health is more important than looks, and 74% of consumers began focusing more on looking healthy as opposed to looking young. The data shows while concerns about skin aging and preventing aging still remain a key influence for several consumers purchasing habits (92%), there are various other reasons taking priority when it comes to using a skincare routine. These include:

• To ensure they have hydrated skin during colder months (97%)
• To benefit their ongoing health and well-being (97%)
• To ensure SPF is used in summer months (95%)
• To increase the number of years with healthy, youthful skin (94%)
• To act as a preventative anti-aging/healthy skin measure (92%)

There are differing trends among young and older generations when it comes to anti-aging approaches. Older consumers began thinking about the use of an anti-aging beauty product much later in life than those who fit into the Gen Z age category. 

• 25% of over 55s did not start to think about anti-aging products until they were in their 40s
• 35% of those aged 35-54 said anti-aging was on their radar in their 30s 
• 54% of those aged 25-34 agree that they have already begun to think about anti-aging skincare
• 50% of those aged 18-24 said they were still in their teens when they started to think about anti-aging skincare 

This early attention from younger generations can be attributed to the rising popularity of anti-aging skincare on social media. This has led to pre-teens in Gen Alpha expressing interest in such products, with those as young as eight taking to TikTok to share their latest beauty routines. The report suggests this early approach is due to a lack of clear information surrounding anti-aging products, with only 20% agreeing consumers have enough information on the benefits of different skincare ingredients and when you should or shouldn't use them. More specifically, 25% of respondents said they do not feel they know enough about what products or ingredients can specifically help with anti-aging. This indicates that the industry needs to work to have clearer product and ingredients education, including the risks and rewards of such SKUs.

"As the skincare industry continues to grow, and consumers of all ages turn their attention to how they can best apply products and regimens to their own skin types, it's positive to see that younger people are looking at this earlier than generations prior. Our skin is such an important part of our health span, so it's vital to address any concerns, however big or small, at an early point but also to remember it's a natural organ that will change and develop over time and must be cared for responsibly through the stages of growing older," comments Dr. Zoya Diwan, expert in clinical and aesthetic dermatology. 

Efficacy Remains Important

For several consumers, the aesthetics and packaging of skincare products are not regarded as important as long as the offering does what it claims to be able to do in an efficacious manner. This attitude varied by country, with the UK agreeing most strongly with the statement. 

• United Kingdom, 47%
• Romania, 37%
• Turkey, 35%
• Italy, 34%
• Poland, 34%
• South Africa, 30%
• Philippines, 28%

Steps to Routines

Simplicity is the top desire when creating an effective routine, indicating a shift from regimes that feature countless products, as once made popular in the 2010s.

• 63% of women prefer a slimmed-down skincare regime using a maximum of three products 
• Poland uses the highest number of products, coming in at a 3.6 average per day 
• The UK uses the least number of products, with an average of 2.7 each day

Dupe Desire

Dupe culture is thriving among young consumers, influenced by social media and the desire to have effective products for a cheaper price.

• 64% of UK Gen Z consumers agree that using dupes is a good way to save money 
• 54% of French consumers aged 16-34 agree that dupes of premium and luxury products provide the same experience as the original 
• 33% of American consumers aged 12-24 and 35% aged 25-35 say they have purchased a makeup dupe as a result of social media 
• 74% of American consumers agree that affordable makeup products work just as well as premium ones

While dupe culture can be damaging for brands trying to protect their products' IP, the dupe market presents many commercial opportunities if executed correctly. Despite popular belief, the data suggested the sales of dupes do not appear to be having a negative impact on the sales of the prestige products they're emulating, with five of the most duped brands showing an average sales growth of 54% per year.

Brands such as Olpalex have proven the benefits of playing into dupe culture. The brand pulled one over on dupe-obsessed consumers last year with the launch of Oladupé, a fictitious product that looked nearly identical to Olaplex's best-selling No. 3 Hair Perfector. The campaign resulted in over 400 posts from creators and the broader community and 21.9M views of the hashtag #Oladupe. Eager customers were driven to oladupe.com, where the first 160 people to register were sent a free bottle of Oladupé. The marketing stunt generated $1.1M in global earned media value (EMV), according to a representative from the brand.

Asking for Advice

Traditional in-person advice from dermatologists and doctors is still the most trusted method for recommendations when it comes to skincare shopping. 

• 36% of consumers trust in-person professional advice from dermatologists or doctors
• 24% of consumers trust skin professionals online, such as dermatologists 
• 10% of consumers trust their family's skincare advice 
• 7% of consumers do not trust anyone but themselves to best care for their skin
• 6% of consumers trust their friend's skincare advice 
• 5% of consumers trust social media influencers for skincare advice
• 5% of consumers trust "other" sources, such as retailers' claims 
• 2% of consumers trust the media for skincare advice, such as magazines and newspapers

There were also regional nuances when it came to trustworthy skincare sources.

• 36% of women in Romania favor online skin professionals for their skincare advice 
• The UK is least trusting of skincare sources overall, with 22% stating they do not trust anyone when it comes to skincare advice 
• South Africa has the highest percentage of consumers placing trust in their family skincare secrets, with 14% valuing the opinion of their sister, mother, or grandmother 

The lack of trust for anyone but professionals is evident, with some (especially consumers in the UK) being particularly cautious when it comes to trusting anyone but themselves for skincare advice. This nods to the benefits of brands including professionals in their skincare campaigns, as well as incorporating online dermatologists in their social media content to gain more trust from consumers.

"The ever-growing rise of social media has created a kind of 'hesitation' for consumers when it comes to choosing beauty products and skincare that's

right for them. I encourage everyone to understand the fundamentals while also speaking with healthcare professionals. Good skincare is about practicality, so it's important to opt for a routine that can be realistically adhered to," comments Dr Diwan.

The Slippery Sustainability Slope

The research found that sustainability is a priority for several consumers, with 78% stating the sustainability credentials of a skincare product influence their purchasing decisions. However, what sustainability includes is defined differently from consumer to consumer. Consumers consider a product to be sustainable if:

• Ingredients have been sourced ethically (53%)
• The product has not been tested on animals (49%)
• The brand is well known for supporting good causes (41%)
• Packaging can be easily recycled (36%)
• Packaging is made from recycled material and/or does not involve single-use plastic (33%)
• A percentage of the purchase goes towards a good cause (27%)
• The carbon footprint of the product is minimal (23%)
• The product is vegan (19%)
• How far the product has traveled to reach the consumer (13%)

It is worth noting that although there is a desire for products to be sustainable, several consumers see purchasing sustainable SKUs as a luxury that not everyone can afford. 

• 62% of consumers said they would be prepared to pay more for a skincare product that was more sustainable 
• 75% of consumers agreed they believe by paying more, they are receiving a better quality product
• 37% of consumers stated they felt by paying more, they were doing more good in terms of sustainability
• Despite this, 49% of consumers believe businesses should be taking on these costs themselves 

The issue remains that consumers desire sustainability but don't want  to foot the bill for these benefits, which indicates the need for a universal understanding of guidelines for sustainability; industry standards and new law implementations would make sustainability a requirement as opposed to an added benefit. 

Wider Industry Implications

As The Future of Beauty Report: Skincare Edition shows, although trends differ from country to country, there are several ongoing developments that sustain themselves worldwide. Overall, there is a general shift away from anti-aging products on the whole as consumers prioritize health over appearance. However, younger generations are beginning to think about anti-aging products from a much younger age than their older counterparts, indicating a need for clear consumer education surrounding the appropriate products to be used for each age category.

Simple yet efficacious products are most desired by all consumers, and consumers generally still trust traditional outlets for advice such as dermatologists and doctors. This presents the opportunity for beauty brands to employ these professionals to accredit their product claims and also confirms growing space in the market for dermatologist-led brands.

Dupes show no sign of fading away and in fact present opportunities for brands to capitalize on, as evidenced by the Olaplex Oladupe example. Despite many luxury brands' SKUs being replicated for a cheaper price, this is actually fueling the sales of higher-priced items, meaning that consumers with varying levels of disposable income want to be part of the same desirable luxury-feeling industry.

Finally, the issue of sustainability continues to be at the forefront of most consumers' minds. However, there seems to be an increase in transparency for what is actually attainable for these consumers, with many shifting the responsibility of sustainability to brands and no desire to foot the cost of this added benefit.