Skincare is increasing faster than any other market category in the beauty industry. In the United States, sales of skincare products increased by 13% last year, while cosmetics sales increased by only 1%. Throughout that period, online beauty businesses rose by 24%, with skincare leading the way. Net-a- The best-selling category in Porter's beauty section is skincare, which climbed 40% year over year.

According to L'Oréal, skincare accounts for 40% of the beauty market but accounts for approximately 60% of the global cosmetics industry growth. It's difficult to overlook the impact of Asia Pacific here - APAC is responsible for much of the worldwide increase in skincare, particularly in the luxury sector. But to what are all of these different growth tendencies due?

Concern about One's Health
Consumers are more concerned about their health and wellness than ever before. Ayurveda medicines, CBD, natural dental care, unplugging gadgets, building personal routines, and thankfulness are just a few of the increasing ways that large sectors of consumers are beginning to create a deeper relationship with their health. Several of these themes, as ubiquitous as they are now, would have been particularly "woo-woo" 10 or 20 years ago.

Similarly, many of the skin issues that drive interest in today's products would have appeared less significant in the past.

To counteract this, people believe that natural products would reverse and correct the accumulated disorders in their skin. These products, which are generally free of parabens, synthetic colors, and phthalates, are also more expensive to produce and are more likely to be sold at a premium - a win-win situation for skincare brands looking to capitalize on the specific way consumers are looking to address their modern concerns.

Routines, Regimes, and Retention
This more wellness-oriented, mindfulness-oriented customer is also more inclined to seek out and stick to daily routines they can trust and rely on. In this environment, skincare regimens are not only vital rituals, but they also promote higher retention and lifetime value for companies.

In China, for example, the number of daily mask users tripled between 2016 and 2018, when celebrities such as Fan Bing Bing and Charmaine Sheh highlighted daily mask procedures as their secret to flawless skin. Similar goods are fueling worldwide growth. "Across all etailers, skin care growth is being driven by auxiliary product categories utilized in multistep skin care procedures, such as serums, and treatments," according to GartnerL2's Q3 Digital Beauty Intelligence research.

Skincare Companies Utilizing Technology to Build and Deepen Connections Social media isn't always enough. Increasingly skincare companies and stores, such as Sephora, Kiehl's, Vichy, and Bobbi Brown, are implementing solutions such as virtual advisers to communicate directly to consumers in real-time, eliciting their wants and concerns, recommending products, and guiding them through the sales process.

This is similar to the type of counseling that customers receive in stores, but it is significantly different in that it is now available online. Skincare businesses are expanding due to the availability of information online, yet customers are more confused than ever before by-product promises. Furthermore, they would purposefully avoid in-store employees while conducting product research online.