Multicultural Beauty: benefiting from diversity

This report examines how brands are segmenting offerings on the basis of ethnic and cultural needs, and asks what are the challenges, and do regional players with an understanding of local market dynamics have an advantage over multinationals.
  • Demographic shifts triggered by migration, flow of tourism, growing purchasing power of ethnic consumers in developed markets and urbanisation in emerging countries have been key demand drivers.
  • A key strategy is developing targeted marketing for the same product, highlighting the most relevant benefit to the target audience in order to optimise return.
  • Cultural influence drives innovation: South Korean beauty has influenced brands globally, but the mainstream is now using new ingredients with strong health benefits.
  • The segment is expected to see more dynamism as developments in tech aid a better understanding of diversity; as a result, more...

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