Indian Beauty and Wellness Industry in 2020: 5 Factors
Indian Beauty and Wellness Industry in 2020: 5 Factors
Numerous factors have accelerated the growth of the Indian beauty and wellness sector over the years, including the growing middle class and its higher disposable income, urbanisation and its effects on the large young population base, digital disruption and its ability to contribute to improving consumer convenience, as well as many other factors. As a consequence, both the public and the upper classes are very interested in the sector.
The sector will rise in 2019 thanks to improved corporatization, the penetration of international brands, more innovation, and adoption of the newest trends. We are entering a new decade with 2020, one that will see continued expansion and advancements in the sector.
You ought to be aware of the elements and patterns for the new season whether you are interested in learning more about this booming sector, wanting to launch your own brand, or ready to buy a franchise. Here are five factors that are all expected to transform the beauty and wellness sector in 2020.
After considering making their goods inclusive of everyone, businesses have now begun to pay attention. The idea and how it is implemented might be extremely important in determining the fate of both wellness and beauty companies in 2020.
The varied and unpredictability of the Indian mass market has long plagued the businesses, but all of them are ready to try new things in order to appeal to a larger audience. Brands who are committed to providing goods for everyone, irrespective of gender, age, or look, will see higher sales than those that continue to concentrate on a select few. In order to experience the emergence of inclusive beauty as a component of product creation, the participants in the Indian beauty and wellness business must be prepared.
This increase also demonstrates how businesses may take risks, affect social change, and combat prejudice while offering empowering goods. The following is a long overdue list of markets that the brands must target:
- Male grooming and beauty goods
- Non-binary cosmetics
- For all skin tones, colour cosmetics and skin care items
- Items designed specifically for teenagers, adolescents, kids, and even baby boomers
- Expansion of clean, green beauty
Natural, sustainable products with few to no negative effects have long been the obsession of Indian beauty and health enthusiasts. More companies are making products with the same ideals in mind now that they are aware of Indians’ obsession with natural and clean cosmetic components.
Brands must leverage on Indian customers’ infatuation with natural ingredients in 2020, including turmeric, moringa, coconut oil, and lavender. Although skincare will continue to be the leading candidate for “green” development, manufacturers won’t hold back on introducing additional hair care and cosmetics products too.
The smoothest beauty products are an international goal. The companies are using naturopathy and Ayurveda as their sources of inspiration to develop goods that not only improve consumers’ looks but are also environmentally sustainable. Â
It’s not only a fleeting fad to want environmentally friendly beauty products (and packaging) that don’t encourage the use of additional plastic or chemicals. As consumer awareness increases, people are giving up even cult-favorite items in favour of a more comprehensive approach to wellness and beauty.
Various retailers wager on beauty
The rise of online shopping platforms has caused a significant shift in almost every business, but the beauty sector is not necessarily one of them. It makes sense logically since people still want to try out cosmetic items personally before making a purchase. Â
In addition, there are beauty merchants, including global giants, that are adept at properly integrating AI and AR technology to get people into their stores. The distinction between luxury and “masstige” items is also blurring, and firms are taking consumer trends into account to reach the broadest audience base possible.
Consumers are now actively browsing through a variety of domestic and foreign online shopping channels in addition to these premium retailers. There is an unanticipated increase in sales as a result of this change in product price and distribution. The following alternative purchasing options have increased Indian customers’ access to beauty products:
- clothes stores
- sites for online buying
- makeup stationsvending machines for makeup
- partnerships with celebrities and influencers
The meeting place for beauty and wellness
Beauty and wellness was once two distinct things. However, as the younger generation has grown in number and people’s awareness of total well-being has increased, these two market segments have come together to form a distinct business that is rapidly increasing. Â
Everyone may now access these services because to developments including the growth of independent businesses, the accessibility of on-demand services, and innovation. Although the connection between the two industries is still in its infancy, it has resulted in the development of several original goods.
Possibilities for businesses have expanded as people pay more and more attention to experiences rather than just purchasing and using items. The companies might affect the industry and raise awareness among customers of all ages by using effective marketing and merchandising tactics. Â
To meet customer needs today, marketers are combining beauty and health in the following four ways:
vitamins and supplements for beauty
Travel and lodging
The spa & salon’s unbundling process continues.
An indication of the industry’s expansion is the increase in the number of salons and spas. Customers will have a better experience when these reviving goods and services become more independent. The services provided are no longer limited to a specific gender, age range, or socioeconomic status. Retailers are driving up demand for additional things by using tactics like incentive programmes.
We’d want to emphasise the importance of experience once again for customers who want to feel and touch the goods while being treated by a professional. Wellness services and medical aesthetic procedures are being debundled in addition to salons and spas. In addition, Indian customers have a penchant for at-home services that provide them greater privacy and freedom.
Most spa and salon firms employ a variety of techniques to attract internet fans and retain their offline clientele. These companies are not only building a strong social media presence, but also utilising the appropriate technology, catering to certain clientele, and putting a major emphasis on one’s mental and spiritual well-being.
For consumers, beauty and health now encompass more than just wearing lipstick, using a hair serum, or attending yoga classes. Both established businesses and up-and-coming ones are employing a variety of ways to get more customer influence, particularly through personalization and social media approaches.
Along with the normal considerations, manufacturers’ initiatives to provide more environmentally friendly, long-lasting, and secure beauty products have increased their sales. Due to the profound cultural changes that are occurring in the industry, the upcoming decade is predicted to experience exceptional growth. Increased openness and changes to rules will also help the sector become more organised and dependable. It suffices to say that technology will continue to advance, particularly AI, to entice more consumers to test new things. Fill out this form to get in contact with us about franchising business possibilities in the beauty and wellness sectors.