(BPT) - Keeping your finger on the pulse of what consumers want can be a challenge, especially in the ever-evolving beauty industry. Social media and lifestyle trends often influence where beauty dollars are spent, and suppliers must take note of buyer purchasing patterns to meet demand.
Data from Alibaba.com, a leading B2B e-commerce marketplace for global trade, provides deep insights into current and emerging trends that are important for businesses in the beauty industry. Sourcing activities on the platform, comparing data from March 2023 to March 2022, point to the following five trends that are poised to define the beauty industry in the second half of 2023:
Vitamin C is in demand
Interest in and use of vitamin C in beauty products like serums, face masks and moisturizers has increased significantly. Alibaba.com saw a 107% year-over-year increase in global buyer inquiries for beauty products with vitamin C. What’s more, there has been a 35% increase in the number of beauty products including vitamin C sold on the marketplace over the same period.
Vitamin C offers a plethora of benefits for skin health and also appeals to eco-focused consumers because it is often sourced from renewable resources. These reasons and more are why many beauty insiders say vitamin C products are here to stay.
Sustainability is key
Using upcycled or recycled materials to create sustainable products is becoming commonplace in the beauty industry. Products like shampoo bars, lip balms and makeup palettes are increasingly featuring recycled plastic and paper packaging. Brands are also repurposing materials like coffee grounds and fruit waste to make exfoliants and face masks.
Consumers are becoming more environmentally conscious, and brands and suppliers alike need to keep up. Alibaba.com saw 109% more inquiries for resource-saving products (eco-friendly and water-efficient products) year-over-year, and there was a 42% increase in the number of sustainable beauty products listed on the site.
As consumers are looking for increasingly personalized experiences from brands, the demand for localized products is growing. Many beauty brands are prioritizing localization efforts by using locally sourced ingredients in their products and tailoring them to the region, climate and culture of their customers.
This might mean a brand will create a skincare line for consumers living in a hot, humid climate using some ingredients that grow naturally in that area. For instance, a growing number of suppliers on Alibaba.com have started using local tropical plant and fruit ingredients in their cosmetics in response to demand from buyers in Southeast Asia.
Beauty routines go streamlined
All-in-one products are perfect for consumers with busy lifestyles. This includes products like BB creams that combine moisturizer, sunscreen and foundation; combination hair and body washes; and palettes that include lip colors, blush and eyeshadows.
Consumers are experiencing increasingly hectic lives and are looking to streamline their to-dos. They are seeking out these types of products to help simplify their beauty routine, saving time and space without sacrificing quality. Alibaba.com saw approximately 10,000 more all-in-one products listed on its platform in March 2023 compared to the same time last year, reflecting a growing demand for this category of products.
Anti-aging products turn back time
One of the fastest-growing segments in the beauty industry is anti-aging products. These often target skin rejuvenation and fine-line reduction, such as anti-wrinkle creams, serums, face masks and facial oils. Alibaba.com saw an increase of 180,000 anti-aging products on its platform year-over-year.
Social media has influenced the desire to slow the speed of aging, and this has heavily impacted consumer desire to purchase anti-aging products. Businesses are responding by stocking a variety of anti-aging products. For example, there was a 291% year-over-year growth in the number of businesses purchasing anti-aging serums on the platform.
Businesses in the beauty industry must be agile and keep pace with emerging trends like these. To learn more about industry trends or to stock up on the latest items to position your business for success, visit Alibaba.com.