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85% of consumers would pay more for beauty products with proven benefits; Euromonitor International

11/23/2023
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  • ‘Wellness pragmatists’ want to look and feel their best reaping instant benefits  
  • Consumers are willing to test new and unconventional options to reach their desired outcomes 
  • Use of injectables like Wegovy and diabetes drug Ozempic for rapid weight loss have exploded in popularity  
  • Products need to be backed by power of science and technology and seamlessly blend with current habits 

LONDON, UK – Consumers are looking for beauty products offering easy solutions with 85% willing to pay more for treatments with proven benefits, according to a Euromonitor expert. 

Amna Abbas, Senior Consultant at Euromonitor International, said people were looking for optimal health without any hassles. “That’s how Wellness Pragmatists tackle self-care. Consumers want quick, effective solutions that enhance their bodies and minds. Proven results will influence purchase choices. 

Products need to be backed by facts and easily blend with current habits. Companies should offer practical options that leverage the power of science and technology. 

Abbas said companies needed to understand the wellness goals of their target audience to determine where to invest and focus their innovation efforts and added that 39% of industry professionals said their company planned to focus on wellness beauty tactics as part of their strategy this year. 

“Create functional, simple solutions that are easy to adopt or refine your current product mix to home in on features that promote wellbeing and use verified claims, demos or testimonials to educate consumers on product benefits.” 

Wellness Asset 1

 

Consumers taking a realistic approach and moving away from invasive treatments 

Abbas said buyers want to look and feel their best and that’s not new but their self-care methods are shifting. 

They are taking a realistic approach, moving away from multi-step regimens, invasive procedures or time-consuming treatments. Instead, consumers opt for convenient solutions that deliver immediate results. 

Wellness Pragmatists want to reap instant benefits without making major commitments. They prefer easy, effective remedies that fit into their lifestyles and require little time or effort. 

Keep in mind that these consumers are also setting more attainable wellness goals. They don’t expect radical changes overnight. But they will expect to see visible improvements, even if those are small to start. 

“Easy solutions that provide visible physical or mental enhancements are in high demand. Wellness Pragmatists want products that work faster and integrate into their current routines. 

Extensive or invasive treatments can be inconvenient. These often require a significant personal investment—whether time or financial. Shoppers will gravitate towards easy-to-use or more manageable solutions,” explained Abbas. 

Shoppers willing to test new and unconventional options to reach desired results 

Advancements in science and technology continue to enhance health and beauty innovations and shoppers are willing to test these new, even unconventional, options to reach their desired outcomes.  

Abbas said biohacking and sleep syncing were prime examples of this trend. The use of injectables like Wegovy and diabetes drug Ozempic for rapid weight loss has exploded in popularity. 

Companies are using bioscience and smart technology to push the envelope of innovation. Customised, nutrient-dense meals that require minimal prep continue to infiltrate the food sector. Brands keep refining personalisation capabilities in cosmetics and supplements, for example, to target specific concerns.  

You will have to do more than just tell to sell. Before-and-after pictures or testimonials are common methods that demonstrate effectiveness. Investing in studies or trials can also help substantiate claims. Brands need to show the benefits to gain credibility. 

Wellness Asset 2

Smart tools that allow consumers to track progress 

Abbas said data is another big factor. Real-time monitoring and smart tools allow consumers to track their progress, then make tweaks to their regimens as needed are becoming increasingly popular. This information gives your customers more control over their wellness journey.” 

For further information see Euromonitor GCT insights here. 

 

FOR FURTHER INFORMATION, PLEASE CONTACT: 

 

Euromonitor Press Office 
Press@euromonitor.com 

 

ABOUT EUROMONITOR INTERNATIONAL 
Euromonitor International is the world’s leading provider of global business intelligence, market analysis and consumer insights. From local to global and tactical to strategic, our research solutions support decisions on how, where and when to grow your business. With offices around the world, analysts in over 100 countries, the latest data science techniques and market research on every key trend and driver, we help you make sense of global markets. 

 

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