Euromonitor’s Megatrends Quantification Model sheds light on the future of consumer spending in Australia’s beauty and personal care market. The Experience More and Wellness megatrends are driving market dynamics, with brands focusing on enhancing consumer experiences and promoting holistic wellbeing. This convergence has created a vibrant and growth-oriented industry landscape in Australia.
The Experience More trend is gaining momentum in Australasia, with consumers seeking unique and enriching experiences from beauty products and services. Brands like Sundae Body and Hismile are setting new standards with innovative products that offer personalized and engaging experiences. Sundae Body’s whipped shower foam and Hismile’s creatively flavored toothpastes have redefined everyday routines, capturing consumer interest and loyalty.
Besides product innovation, the Experience More trend is reshaping retail experiences in Australia, emphasizing the importance of physical stores. Mecca, a local beauty specialist, stands out for its innovative retail practices, unique store designs, and well-trained staff who provide expert guidance to customers, enhancing the overall shopping experience.
Meanwhile, the Wellness trend continues to thrive in Australasia, with consumers increasingly investing in wellness-related products as part of their lifestyle choices. Younger generations, particularly Gen Z and millennials, are integrating wellness into their beauty routines, prioritizing products that promote relaxation and self-expression. The shift towards nature and organic ingredients, such as Kakadu plum extracts, reflects a growing preference for eco-friendly and effective beauty solutions.
Amidst the pandemic, self-care rituals have gained prominence, with consumers focusing on mental wellbeing and simplicity in skincare routines. Brands are responding by highlighting emotional and internal health benefits, leveraging neuroscience to enhance emotional wellbeing through products like anti-stress skincare and fragrances that promote mood and energy.
As the beauty and personal care industry in Australia evolves, there is a clear trend towards wellness-driven products that cater to consumers’ holistic wellbeing. From innovative experiences to ingredient-led solutions, brands are adapting to meet the changing demands of a market where wellness and experience are key drivers of consumer preferences and purchasing decisions.
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