Beauty Insights 2020: Revamp to Meet Consumers’ Digital Needs
According to Tinuiti’s 2020 Beauty Industry Trends Report, the beauty industry is poised for success if brands revamp customer journey to meet consumers’ digital needs.
Tinuiti, the independent performance marketing agency, released their 2020 Beauty Industry Trends Report, providing insight towards how the industry continues to see growth, amidst the financial and economical challenges caused by COVID-19. This survey generates a snapshot of current beauty spending and preferences to provide guidance for sellers, not only through the current pandemic but moving forward into 2021 and beyond.
In April, Tinuiti surveyed over 2,000 consumers aged 18-65 about their beauty shopping habits. This study reveals several valuable insights to help inform the marketing strategy of beauty brands:
- In 2020, nearly 54 per cent of shoppers spend more than $25 per month—an 8% increase from 2019
- 6-in-10 customers use social media for beauty product inspiration with Facebook/Instagram leading the way
- When browsing and buying online, 49 per cent of respondents prefer to use mobile devices—a 24 per cent increase compared to 2019
- 63 per cent of consumers say that brands need to do better when it comes to reflecting their customers’ unique beauty needs
“2020 is the year of the “Super Spenders”; we saw a 45 per cent jump in shoppers who spend over $50 a month on beauty products,” said Dalton Dorné, Chief Marketing Officer, Tinuiti. “It may surprise people that men make up nearly 40 per cent of this group. As this audience becomes increasingly diverse and valuable, beauty brands have an opportunity to evolve and connect with this audience in more meaningful ways.”
Actionable insights like these are featured throughout Tinuiti’s 2020 Beauty Consumer Study while taking a deeper look into which sub-verticals are booming, where people are buying (online marketplaces vs. stores) and how they’re buying (ex. Rise in mobile browsing and subscription boxes). Tinuiti continues to release reports that share insights on a variety of topics including quarterly benchmark reports that examine the triopoly of Search, Social and Marketplaces.