According to a new trend report, Japanese consumers are favouring old reliables that have stood the test of time over new buzzworthy brands and products.
This year, the company analysed around 1.2 million reviews to determine the award winners.
Interestingly, this year, the entire line-up of 10 products were previous winners of @cosme awards.
These observations have led @cosme to believe that its beauty consumers were adopting risk avoidance behaviours and were now looking for stalwart products that have stood the test of time.
LG Household & Healthcare has reported a 7% decline in Singles’ Day sales this year, which it attributed to dampened consumer sentiment in China.
It highlighted that it approached this year’s Singles’ Day tentatively because of Beijing’s restrictive zero-COVID policies.
Despite the move to vary the channels, it recorded sales of approximately KRW360bn (USD272.5m) for Singles’ Day, a dip of 7% from the previous year.
Personalised solutions, true innovation and credible claims are key for beauty brands to succeed among diverse population groups across Asia and beyond, say trends experts.
The pursuit of holistic beauty will continue to drive the development of diagnostic tools, products and services that not only nourish the skin, but also contribute to psychological well-being.
With beauty and personal care proving to be an essential part of self-care, this highlights a potential for growth in products that regulate oxytocin and endorphin levels.
Japanese beauty company Kosé Corporation is ramping up gender-neutral product development as part of its new growth strategy.
The company has recently begun promoting Visée, a make-up brand it established in 1994, as a gender-neutral brand.
The company also launched the genderless beauty range Flaruné under the Albion brand in August.
In addition, the company has also started to promote three more brands, SEKKISEI, Ceramiaid, and Carte HD as gender-neutral brands.
Chinese colour cosmetics brand Perfect Diary is innovating in the facial complexion category to drive the brand’s turnaround as make-up continues to decline in China.
The company is leveraging its SmartLock technology to develop new products. The technology helps to control excess oil on the skin and ‘locks’ make-up in place for long-wear.
It has also been applied in its cushion foundations, and most recently, to the newly launched clear cover three-colour concealer palette in an attempt to expand it across the facial category.