Facial beauty is on the road to recovery
Once the FMCG industry’s fastest-growing sector, beauty was hit hard during the pandemic. Masks and restrictions on movement meant people stayed at home more, and bought fewer products due to the drop in usage occasions. Globally, the sector is now well on the way to recovery – although consumers have continued to buy less. They are also demonstrating two predominant behavioural trends, which diverge in completely opposite directions: they desire simplicity, and they desire sophistication.
Thailand’s beauty sector is rebounding well following the pandemic, bringing new opportunities for brands and manufacturers. Facial beauty, in particular, is making a strong comeback now that people have discarded their masks, and this trend is expected to continue through 2023. In contrast, growth in hair care and body care – which were the star performers during the pandemic – is slowing.
However, Thai consumers’ experiences during COVID-19 have driven a major change in their expectations and priorities, and beauty players will need to understand this evolution in order to drive growth.
The era of the individual
People in Thailand now want to focus on taking care of themselves. Their awareness of the importance of health has increased over the last three years, of course – but they’re also ready to pay attention to how they look, now that it’s possible to socialise and return to the workplace once again.
It’s increasingly important to Thai consumers that their beauty regimes are personalised to their individual needs. In fact, this is a trend we can see across all sectors: people are pursuing personalised and customised offerings in everything from food menus to exercise routines.
This requires a shift in mindset for brands and manufacturers. In the past, their main opportunity for growth lay in geographical expansion. Now, though, the key lies in their ability to anticipate the changing lifestyles and needs of their audiences.
The meaning of beauty has changed
Thai consumers see their body as something they need to nurture. They’re taking an increasingly holistic and health-driven approach to beauty, with a focus on internal wellness at the core of the purchase decisions they make. The fashion is now for a face that is natural and healthy; people no longer aim to achieve a look that is artificial or glossy.
They also demand a lot from the beauty products they buy. As well as helping them to look good, products must help to make their skin strong and healthy, from the deepest to the outermost layer. They expect a high level of efficacy, with products that combine multiple benefits into one. Consumers are becoming more conscious of what goes into products, and they look for natural ingredients.
This new perception is changing the types of products that Thai shoppers desire, as well as the key benefits being claimed by beauty brands.
What will the impact of this evolution be? Where are the opportunities for brands and manufacturers? Are you ready to understand and embrace them?
In this report, we look ahead to Thailand’s beauty market in 2023, exploring how consumers’ lifestyles have changed, how their expectations have evolved, and how brands and manufacturers can unlock growth with a strategy that focuses on SELF:
