Fulfilling consumers’ needs for instant gratification has resulted in several innovations from BB creams to at-home laser devices, but this age of now will be short lived according to trend forecasting agency, The Future Laboratory. The beauty industry is shifting towards a new trend, Long Beauty, where consumers are moving away from the desire for immediate fulfillment and instead, seeking beauty solutions that may benefit them in the long run.
“We believe that we are at the dawn of a new age that we’re calling ‘The Long-Near’,” said Claire Hobson, EVP Global Business Director, The Future Laboratory. “It’s a time when short-term thinking will start to become obsolete as populations begin to have extended life spans. In the future, thinking in the moment just won’t be enough. Planning for the long haul will need to be the new mindset.”
Tomorrow’s beauty’s consumers will begin to seek products from companies that are thinking bigger and finding new ways of using products and techniques to improve wellbeing and beauty. In order to meet this demand, manufacturers may need to explore how some ingredients can be used in new and unexpected ways in order to produce a greater effect. In some cases, consumers will be looking to have their purchases completely individualized and tailored to their specifications. Being able to deliver this kind of customer experience will be the primary basis for competition among businesses, so it’s important for the industry to take note of the shift and start preparing.
“Short-termism is the greatest threat to a business’s future,” said Claire. “Understanding Long-Beauty is about embracing 100-year thinking and rewarding consumers who are now prepared to wait. After years of instantaneous, everything now lifestyles, the 150-year consumer lifespan is on the horizon, and brands need to make a genuine contribution to our longer lives. For the brands, they need to look at why they’re doing what they’re doing, rather than just focusing on what they’re doing.”
Claire will delve deeper into how these emerging consumer trends will impact the future of global beauty based on an exclusive study on Long Beauty at CEW’s upcoming event, Future Focus: Long Beauty. The presentation will take place at The Union League Club in New York City on Tuesday, May 5.
“Attendees at the CEW event will gain an understanding of how to future-proof their businesses from either a product innovation, retail or branding perspective,” said Claire. “Business strategy for years has been anchored in the 5-year plan. The insights I am going to share will push boundaries of what it means to build a brand of substance and relevance for tomorrow’s consumers.”
The proprietary findings shared by Claire will give attendees a unique competitive advantage to ensure their brand is prepared to meet the demands of beauty’s future consumers.
“We’ll share their future lifestyles, expectations and attitudes towards the beauty sector and will hear from thought leaders and innovators in this space to see real life examples of businesses are tackling these shifts.”
The event begins at 8:00am with a continental breakfast and networking session followed by the program from 8:30-9:30am. Individual member tickets are $150, and nonmember tickets are $175.
Click here to register now to not miss out on the opportunity to gain these insights that will impact the future of your business.