Social media drives people’s beauty and skincare perceptions
Blackheads and whiteheads comprise the most common skincare concern among women in Singapore. This was one of the key findings of an annual survey of 1,684 women based in Singapore conducted last year by Daily Vanity, a Singapore-based beauty magazine. Some 67% of respondents to the survey cited blackheads and whiteheads ahead of all other skincare concerns. While relatively easy to remove, blackheads and whiteheads have a habit of coming back. Apart from a plethora of skincare products to deal with them, there are several simple, age-old remedies too, such as steaming them out with warm cloth or exfoliating using a face mask made of yoghurt and oatmeal.
Away from those irritating blackheads and whiteheads, the survey also found that the other most common concerns among women in Singapore included dark eye circles (58.3% of respondents), visible or enlarged pores (52.9%), dull and uneven skin tone (50.18%), and acne scars (41.9%). These concerns will resonate with all women and an ever-increasing number of men. The good news is that, for each of these concerns, there is typically a range of skincare products that consumers can turn to. And these days, they tend to turn to such products in huge numbers.
Daily Vanity’s survey findings -- which are quite robust considering the survey’s respondent size and likely focused survey questions – are especially useful for entities that sell beauty and skincare products as it can help them shape their product suites to address consumers’ concerns. For instance, it could help a skincare firm differentiate itself from its competitors and develop products in a particular area of skincare to meet demand. This space is getting more competitive with the entry of new brands, the advent of new marketing campaigns and the growing presence of e-commerce channels to buy such beauty and skincare products.
According to a Cosmetics and Personal Care Report conducted last year, revenue in the beauty and personal care category in Singapore was expected at US$1.06 billion in 2019, and the market was projected to grow at 1.7% on an annual basis. With such revenues to be garnered for successful participants, it is no surprise that more companies are entering the skincare industry.
Driven by social media
It is thus clear that the beauty & personal care market is big business in Singapore and across the world. It is believed to be one of the fastest-growing consumer markets, driven in particular by the cosmetics and skincare segments. One of the driving factors is seen as the generational shift with young consumers constantly entering the market. Since younger consumers are tech-savvy, and skincare products lend themselves to be bought online, the potential for the market to grow is deep, driven by e-commerce. The industry is aided by the fact that millennials tend to be more conscious about the way they look, what they eat and broadly enjoy a healthier lifestyle than previous generations. Beauty and skincare trends spread quickly around the world and have the power to change people’s perceptions about daily beauty and care. Personal preferences and tastes are shaped by social media while e-commerce sites facilitate the buying behaviours of a younger generation of people. It can be argued that the lockdowns associated with COVID-19 are likely to accentuate online buying behaviours. As such, whether it's blackheads or whiteheads or acne, people will increasingly look for solutions for their skincare concerns online. This should help online sales of such products in a post-COVID-19 world.