Hair care is one of the underperforming beauty and personal care categories during the COVID-19 pandemic. Lockdown restrictions from 2020 to 2021 have changed consumer habits, reducing social opportunities and reducing the use of styling products and shampoos.
In 2022, with the end of home isolation and lockdown measures in most countries, hair care habits have returned to some extent to pre-pandemic levels, but global inflation is now posing new challenges for the category. increase. Find out how consumer spending patterns in the hair care sector have changed over the past year thanks to Euromonitor International’s ‘Consumer Voices: Beauty and Personal Care 2022 Study’ conducted in June 2022 can do.
Consumers continue to buy premium as commodity prices rise
The Voice of the Industry: Beauty and Personal Care 2021 survey, conducted in October 2021, found that 30% of beauty players have already increased the prices of their products in response to inflation. This figure only increased throughout his 2022.
For example, Unilever, owner of Tresemme, increased its product prices by 12.5% in Q3 2022 compared to the same period in 2021. So far, there has been no restraint on consumer spending across beauty and personal care categories, with respondents to the Voice of the Consumer: Beauty and Personal Care 2022 survey saying that in 2022 he in he is spending more than he did two years ago.
Source: Voice of the Consumer Beauty Survey, June 2022
Increasing consumer spending is evident across the global hair care market, with typical spending per product exceeding USD 10 in 2022, significantly higher across all subcategories compared to 2021. . Hair removal products, often offered at higher price points, are becoming more popular with consumers. The demand for premium presentations continued to grow, along with the desire to purchase more products as rewards. This was demonstrated by an increase in the number of respondents who preferred to buy luxury brands over their budget in 2022 and 2021 for all product types except hair styling. Premium His fascination with the hair care space is nothing new. From 2016 to 2021, the trend towards natural, clean and sustainable products and the expansion of the salon professional channel has led the channel to outgrow the masses.
Source: Voice of the Consumer Beauty Survey, June 2022
Increased spending on premium hair care has impacted purchase frequency habits in 2022. Data show that monthly purchases of standard hair shampoos, hair conditioners or treatments, and 2-in-1 shampoos/conditioners have dropped significantly year-over-year. Affects hair quality and health. The latter can be explained by a 7% and 3% drop in daily usage of standard hair shampoo and his 2-in-1 shampoo/conditioner, respectively, in 2022 when compared to pre-pandemic levels. . Most of the other subcategories saw an increase in monthly purchases thanks to a year without lockdown restrictions.
Signs of price sensitivity were evident in the survey, with low prices (+2% and +1%, respectively) being a more important factor than premium formulas or proven efficacy when purchasing hair care. There was a slight increase in the number of respondents who felt The difference between 2022 and 2021. In 2023, spending in the category is expected to decline as consumers feel the effects of inflation more pronounced. This will increase competition for his premium brand from the ‘mastige’ segment, where players offer premium ingredients, features and aesthetics. at a low cost to the consumer. In the UK, for example, his Aldi at Discount his shop will launch his Lacura Bonded hair care line in July 2022, offering a cheaper alternative to premium competitors such as Living Proof and his Olaplex. bottom.
Anti-Aging Hair Concerns Are Witnessing Highest Spending
Source: Voice of the Consumer Beauty Survey, June 2022
Compared to other hair products, global consumer spending in 2022 was highest on anti-aging products, including hair dyes and hair loss treatment products. This is evident with aging hair being reported as the top hair concern worldwide (58%), followed by damaged hair (54%) and scalp problems (42%). I’m here. Hair loss as a symptom of COVID-19 also played a role in remaining a top concern among consumers, even as the pandemic became more manageable in many parts of the world. This perception is consistent with pre-pandemic trends promoting overall scalp health.
Source: Voice of the Consumer Beauty Survey, June 2022
Growing interest in the anti-aging field is becoming more pronounced among young people. Stress, increased pace of life, and anxiety are contributing to the emergence of premature aging among Gen Z and millennials. This trend has emerged during the pandemic and continues in times of political and economic hardship. According to VIA, this has boosted the popularity of products claiming to have anti-aging benefits, with the number of product SKUs tagged for treating hair loss growing 31% from 2021 to 2022. Food players are increasingly entering the space, with brands such as Nutrafol and Arey launching natural formula shampoos and treatments that boast anti-hair loss benefits.
The Voice of the Consumer: Beauty Survey shows how consumer spending behaviors and concerns will continue to change amid economic uncertainty and post-pandemic life. Despite global inflation, shoppers are willing to invest in more expensive products to treat their hair concerns, indicating an opportunity for future growth in hair care.
To learn more about beauty consumers, check out our top makeup priorities blog.
For key findings from Euromonitor International’s 2022 Voice of the Consumer: Beauty Survey, see the report here.
