September 5, 2023

Industry Trends: As Cool Autumn is Coming, It’s Time Try New Skincare Products

 

skincare 2020 October

 

 

Autumn is here! In addition to “the autumn of appetite”, “the autumn of reading” and other seasonal activities with the colors of autumn, the temperature difference that gradually increases between morning and evening also reminds people of the needs of various maintenance and care for our body. Affected by the Covid-19 epidemic, people have also deepened their concern about maintaining health. As the epidemic is slowing down in Taiwan, how would Taiwanese female consumers shop for beauty products in this “autumn of consumption”? How would they choose the products?

The budget for cosmetics grows, especially among young people

People are now more aware of seasonal changes. During this time, the skin is prone to be sensitive, dry, itchy, etc.

The most needed maintenance include deep moisturizing, moisturizing, repairing, etc. On the other hand, as people can see those various and well-established anniversary celebration from different places, such as major department stores, shopping websites, official websites, etc. in the second half of the year, their desire to purchase skincare products during this time is becoming stronger and stronger.

Therefore, during October, all female consumers have increased their budgets for cosmetics and skin care, especially among those from age 16 to 29. The budget has increased not only because consumers actually have additional needs to purchase, but also because it is also more likely to get a good discount. What’s worth mentioning is that young consumers’ awareness of cosmetic and skincare products has increased as it is easier to obtain informaton nowadays, or because social media marketing such as KOLs and Internet celebrities have increased. Although young consumers’ spending power is not as high as other age groups, how to take advantage of their needs of skin maintenance and their consumption channels has also become a major challenge for the industry.

Chart 1

Half of consumers want to change the brand, "early adopters" is the main reason

Regarding consumers’ choices in skicare, half of them have recently considered changing the brands of their facial skincare product, and 35% of them have chosen to replace facial cleansing products, which made it the item that is most likely to be replaced in the near future.

There are also more than 20% of consumers who want to change the brands of their lotion. In addition to changing brands due to the seasonal change of summer and autumn, the necesity of changing skincare has also strengthened the desire.

Besides, Taiwanese women are quite willing to trying new facial skincare products because they would like to "try products from other brands" according to those with desire to change lotions, serums and creams/face cream.

Everyone’s skin condition is different, and there are also many differences in lifestyle habits, contact situations, environmental conditions, and physiological acceptance.

Therefore, even the same product would often receive various comments at the same time, from positive recommendations to negative reviews. The thought about skincare products is not only directly reflected on the body, but also easily affected by consumers' subjective preferences, such as fragrance, texture and consistency, even packaging appearance, etc. Only by trying it yourself for a while will tell the true feelings. Besides, with tons of choices, there are often combinations of using different products together. Also the consumption speed is fast, so customers are more likely to change products and try new things. However it could be a love or hate situation.

Chart 2

It could be an opportunity when people change the brand between seasons, but "maintenance" is the main challenge

On online forums, there is a type of article that shows photos of empty bottles and cans and comments on them individually. It is called "Empty Rewards", which means that a skincare product has been used up completely. The "Empty Rewards" articles are very popular among netizens. In addition to understanding all the authors’ choices in skincare products and their comments on every one of them, it also shows how difficult it could be to keep using a certain cosmetic product. This means that it could be hard to find a product that meets your needs ands makes you stay with it.

In addition, consumers also understand that the main function of skincare products is to maintain. If they really want significant improvement, they can obtain that through surgery. In order to feel "well-maintained", the customers have to like the products first and also be provided with diversified products so that they can adjust themselves according to their own conditions. Although consumers’ behavior of "consider changing to other brands" may be a crisis of brand loyalty for the industry, it can also be a business opportunity to attract more customers to try. However, how to keep growing and to meet the needs of consumers at all stages is a bigger challenge.

Chart 3

 

 

Survey Agency: InsightXplorer
Survey Date: Sept 30 to Oct 5, 2020
Survey Method: Online survey
Respondents: Women aged 16-50
Number of samples: 902
Author: Yueh Ling Hsu

 

 

Download the full report here.

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