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Online Beauty and Personal Care Products Market to Grow by USD 50.96 Billion (2024-2028), with Internet and Smart Gadget Penetration and AI Impacting Trends – Technavio

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NEW YORK, Oct. 2, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The Global Online Beauty and Personal Care Products market  size is estimated to grow by USD 50.96 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  14.76%  during the forecast period. Rise in penetration of internet and smart gadgets is driving market growth, with a trend towards hassle-free and one-day or two-day delivery. However, logistics as a concern for e-retailers  poses a challenge – Key market players include Amorepacific Corp., Chanel Ltd., Church and Dwight Co. Inc., CLARINS France, Coty Inc., Henkel AG and Co. KGaA, Johnson and Johnson Services Inc., Kao Corp., Koninklijke Philips N.V., LOreal SA, MacAndrews and Forbes Inc., Mary Kay Inc., maxingvest AG, Natura and Co Holding SA, Oriflame Cosmetics S.A., Reckitt Benckiser Group Plc, Shiseido Co. Ltd., The Estee Lauder Companies Inc., The Procter and Gamble Co., and Unilever PLC.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product (Skincare products, Haircare products, Color cosmetics, Fragrances, and Others) and Geography (APAC, North America, Europe, South America, and Middle East and Africa)

Region Covered

APAC, North America, Europe, South America, and Middle East and Africa

Key companies profiled

Amorepacific Corp., Chanel Ltd., Church and Dwight Co. Inc., CLARINS France, Coty Inc., Henkel AG and Co. KGaA, Johnson and Johnson Services Inc., Kao Corp., Koninklijke Philips N.V., LOreal SA, MacAndrews and Forbes Inc., Mary Kay Inc., maxingvest AG, Natura and Co Holding SA, Oriflame Cosmetics S.A., Reckitt Benckiser Group Plc, Shiseido Co. Ltd., The Estee Lauder Companies Inc., The Procter and Gamble Co., and Unilever PLC

Key Market Trends Fueling Growth

Online retailers are experimenting with new delivery models to cater to customers’ evolving expectations in the online beauty and personal care products market. With increasing demand for convenience, e-retailers are focusing on hassle-free, one-day delivery services, which come with an additional charge. In developed markets like Western Europe and the US, same-day delivery services are popular, indicating a willingness to pay for swift services that prioritize emergency needs and convenience. These services save time for both customers and e-commerce players. For instance, Amazon Prime offers one-day or two-day delivery services for a fee, and in some areas in the US, it provides free two-hour delivery for select products. Customers seeking fast and convenient services often opt for such memberships. This trend may expand the customer base and contribute to the growth of the online beauty and personal care products market during the forecast period. 

The Online Beauty and Personal Care Products market is thriving due to increasing consumer lifestyle changes and urbanization. Product feedback and social proof play a significant role in purchasing decisions. Mobile commerce is on the rise, with product delivery and third-party delivery services ensuring convenience. Organic and herbal products, eco-friendly packaging, and male grooming are popular trends. Consumers prioritize health and hygiene, self-esteem, and physical appearance. Moisturizers, soaps, cleansers, toothpaste, hair dyes, perfumes, facial tissues, lipsticks, and more are in demand. Internet penetration and online sales channels offer discounts and offers, boosting brand awareness and customer loyalty. Premium product variants, exotic brands, and signature collections cater to cross-category shopping. Social media influence and promotional campaigns impact purchasing decisions. Product packaging, chemical-free products, and personalized offerings based on skin type and hair type are essential. E-retailers provide same-day delivery, online payments, and easy navigation for a seamless shopping experience. 

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Market Challenges

E-commerce retailers in the online beauty and personal care products market face significant logistical challenges that impact their profitability. These issues include the lack of accurate postal addresses and unorganized routing systems, leading to delayed deliveries. International retailers bear additional costs due to these complications. To mitigate these challenges, retailers can collaborate with established third-party logistics providers. This partnership prevents retailers from incurring extra labor costs and ensures efficient distribution of orders. In case of any complications, the logistics providers are responsible for resolving them, safeguarding the retailer’s brand image and customer base. Despite these challenges, the global online beauty and personal care products market is expected to grow, but the logistical complexities may hamper its expansion during the forecast period.The Online Beauty and Personal Care Products market is experiencing significant growth, driven by various trends and challenges. One key trend is the demand for clean-labeled products, as consumers prioritize health and natural ingredients. Gen Z is a major consumer base, seeking innovative solutions like biotechnology and nanotechnology in their DIY beauty treatments. Organic cosmetics and cruelty-free products are also popular, along with ethically derived goods. The skincare and haircare markets dominate sales, with working women and the young population being key customers. Specialty stores and e-commerce platforms, including free delivery and competitive prices, cater to this demand. Innovative packaging and personalized recommendations further enhance the customer experience. Digital channels, including e-commerce, have become essential for reaching consumers. Brands are leveraging health and beauty influencer marketing and customer reviews to build trust and loyalty. Natural ingredients, health awareness, and convenience continue to shape the market, making it an exciting space for growth.

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Segment Overview 

This online beauty and personal care products market report extensively covers market segmentation by

Product 1.1 Skincare products1.2 Haircare products1.3 Color cosmetics1.4 Fragrances1.5 OthersGeography 2.1 APAC2.2 North America2.3 Europe2.4 South America2.5 Middle East and Africa

1.1 Skincare products-  The online beauty and personal care products market, specifically the skincare segment, is divided into facial and body skincare categories. Products such as moisturizers, anti-aging solutions, skin brighteners, and wrinkle removers cater to various consumer needs. The trend towards multifunctional skincare items and natural, organic options continues to grow. Social media significantly influences beauty trends, with influencers and online communities sharing tips, reviews, and recommendations. Increasing disposable income levels, particularly in emerging markets, and the desire for luxury skincare solutions contribute to market expansion. Additionally, the convenience and accessibility of purchasing skincare products online further boost sales, making this segment a key driver of the global online beauty and personal care products market’s growth.

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Research Analysis

The online personal care market is experiencing significant growth as more consumers turn to digital channels for convenience and access to a wide range of products. E-commerce platforms have made it possible to purchase skincare, haircare, makeup, fragrances, personal hygiene items, and more from the comfort of home. Free delivery options and competitive pricing are driving sales, as consumers prioritize self-care and prioritize their physical appearance for health and self-esteem. Popular product categories include moisturizers, soaps, cleansers, toothpaste, hair dyes, perfumes, facial tissues, and premium products. The market caters to all demographics, with millennials leading the charge for non-toxic, specialty store, and pharmacy purchases. Beauty salons and physical stores remain important touchpoints for product discovery and consultation, but e-commerce is becoming an increasingly dominant force in the personal care industry. Hair care, skin care, color cosmetics, and fragrances are popular categories, with a growing emphasis on natural and organic offerings. Male consumers are also embracing online shopping for personal care products, expanding the market’s reach and potential.

Market Research Overview

The Personal care market is experiencing a significant shift towards digital channels with e-commerce becoming the new norm. Skincare, Haircare, Makeup, Fragrances, Personal hygiene, and other Personal Care Products are increasingly being purchased online. Free delivery, competitive prices, and personalized recommendations are key factors driving this trend. Natural ingredients, health awareness, and consumer lifestyle changes are also influencing buying decisions. Influencer marketing, customer reviews, product feedback, and social proof are essential elements of the online shopping experience. Mobile commerce, product delivery, third-party delivery, organic, herbal products, eco-friendly packaging, and male grooming are other growing areas. Urbanization, internet penetration, and online distribution channels are further fueling the growth of this market. Consumers are also looking for premium product variants, exotic brands, and signature collections. Cross-category shopping, social media influence, promotional campaigns, and product packaging are other factors shaping the online Personal Care Products industry. Chemical-free products, skin type, hair type, and mass or premium products cater to diverse consumer needs. E-retailers offer same-day delivery, online payments, easy navigation, and a wide range of products, making shopping more convenient than ever before.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductSkincare ProductsHaircare ProductsColor CosmeticsFragrancesOthersGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Operation HOPE Lands in Alabama to Help Boost Financial Literacy and Empower Communities Across the State

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“UPLIFT” and the “American Aspiration Tour” Aim to Improve Economic Mobility in Birmingham and Montgomery

ATLANTA, Oct. 2, 2024 /PRNewswire/ — Operation HOPE is proud to announce the arrival of The American Aspiration Tour (AAT) and UPLIFT, multi-city initiatives aimed at transforming financial literacy across the nation. Spearheaded by John Hope Bryant, founder and CEO of Operation HOPE, the events seek to empower individuals and communities through actionable financial education, equipping underserved communities with the tools and knowledge to enhance economic mobility and close the wealth gap.

The events in Birmingham and Montgomery will take place on October 3, 2024. Each is open to the public at no cost. To register, click HERE.

“Our goal with The American Aspiration Tour and UPLIFT is to bridge the financial literacy gap, one city at a time. By creating opportunities for meaningful discussions, we aim to not only inspire change but equip communities with the skills they need to build brighter financial futures,” said John Hope Bryant. “We’re addressing the root causes of economic inequality by empowering individuals with the tools to succeed in today’s economy.”

Alabama’s financial literacy challenge is clear. According to HOPE’s Community Credit Index (CCI), the average credit score in the state is 692—one of the lowest in the nation. UPLIFT and AAT aim to tackle overarching issues head-on.  By providing residents with the knowledge and tools to better manage credit, save, and invest, Operation HOPE aims to build a more financially resilient community. Other HOPE CCI data reveals the positive impact of HOPE’s local programs, including:

Birmingham:

Average beginning credit score for clients – 587Average increase in credit score for clients – +44 pointsMedian reduction of client debt – –$1,064Median increase in client savings – +$915

Montgomery:

Average beginning credit score for clients – 583Average increase in credit score for clients – +36 ptsMedian reduction of client debt – $496Median increase in client savings – +$1000

In addition to Alabama, the tours will make stops in other states including Georgia, Missouri, North Carolina and Ohio, among others. Each will feature thought-provoking conversations with local leaders about financial empowerment, economic justice, and the role of financial literacy in building a more equitable society. AAT events will also spotlight Financial Literacy for All, the best-selling book by Mr. Bryant, which explores critical solutions for creating widespread economic prosperity.

“Operation HOPE is exactly the kind of forward-thinking partner our community needs,” said Mayor Randall Woodfin of Birmingham. “Financial literacy is the foundation of economic success, and I am excited that Birmingham is part of this impactful movement.”

“Money won’t solve everything, but I believe increasing financial literacy can go a long way in improving outcomes for our citizens,” said Montgomery Mayor Steven Reed.  “We want to improve the financial health of families and individuals in a manner that leads to long-term economic success. Our partnership with Operation HOPE is key to achieving this goal.”

With financial inclusion at its core, Operation HOPE is determined to ensure that every event participant leaves inspired, with a deeper understanding of budgeting, investing, homeownership, and credit management— all of which are key pillars to building generation wealth.

About the American Aspiration Tour
The American Aspiration Tour (AAT) is a multi-city event designed to increase financial literacy across the United States. This tour, led by Operation HOPE, will empower individuals and communities through financial education, with the ultimate goal of enhancing economic mobility and closing the wealth gap. AAT includes a series of meaningful conversations with leaders across the nation. It will also serve as a platform to highlight “Financial Literacy for All,” the latest book by Operation HOPE founder, John Hope Bryant. Visit https://operationhope.org/american-aspiration-tour/ for more info.

About HOPE UPLIFT
UPLIFT, an acronym for ‘Understanding, Promoting, and Leveraging Financial Tools,’ embodies Operation HOPE’s commitment to equipping individuals and communities with the knowledge and resources needed to achieve financial well-being. Through a series of engaging events hosted by HOPE and other dedicated local partners, such as the US Small Business Administration, UPLIFT aims to introduce and educate communities about its ongoing programs nationwide.

About Operation HOPE, Inc.
Since 1992, Operation HOPE has tirelessly pursued its mission of advancing economic empowerment and opportunity across America. Through innovative programs like HOPE Inside, recognized by American Banker magazine, the organization has impacted over 4 million individuals and facilitated nearly $4 billion in economic activity in underserved communities. Its initiatives have transformed lives by transitioning check-cashing customers to banking, renters to homeowners, and minimum wage workers to living wage earners. Recently honored with Fast Company’s World Changing Ideas Award and maintaining a top 4-star charity rating from Charity Navigator, Operation HOPE remains steadfast in its commitment to transparency, accountability, and driving entrepreneurship. Join the organization in leveling the economic playing field through The 1865 Project. Learn more at OperationHOPE.org and join the conversation on social media at @operationHOPE.

Contacts:
Kevin Boucher, for AAT
kevin.boucher@operationhope.org

Lance Triggs, for HOPE UPLIFT
lance.triggs@operationhope.org

Lalohni Campbell, Operation HOPE
LA@persemediagroup.com
(404) 593-7145

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SOURCE Operation HOPE, Inc.

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USPACE Technology Group Announces Board Changes and Adopts New Company Logo

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Appoint AICTO General Director H.E. Mohamed Ben Amor as Executive Director and Chairman of the Board

Mr. Sun Fengquan Transitions to Honorary Chairman and Remains as CEO

Enhance the Global Representation of the Board and Seize the Opportunities in the Global Aerospace Market

HONG KONG, Oct. 3, 2024 /PRNewswire/ — USPACE Technology Group Limited (“USPACE ” or “the Group”; Stock Code: 1725.HK) announces that with effect from 2 October 2024, the Group has appointed H.E. Mohamed Ben Amor, general director of the Arab Information and Communications Technologies Organization(AICTO), as executive Director and chairman of the Board. Following Mr. Sun Fengquan’s resignation as executive Director and chairman of the Board, Mr. Sun has been appointed as the honorary chairman of the Company and remains as Chief Executive Officer. The Group has also appointed Mr. Boris Tadić, a former President of Serbia, as independent non-executive Director. These changes optimize the Board structure, enhance corporate governance, and facilitate the Group’s international business development. Additionally, the Group has adopted a new company logo, refreshing its corporate image and marking a new phase of development.

USPACE said both the Group’s newly appointed executive Director and chairman of the Board, H.E. Ben Amor, and independent non-executive Director, Mr. Tadić, possess extensive experience and expertise in the aerospace sector. Their global vision and extensive networks are expected to significantly enhance the Group’s international competitiveness, facilitating the expansion of its global cooperation network and enabling it to better capitalize on development opportunities in the global aerospace market.

H.E. Ben Amor obtained his Master’s degree in International Project Management and Human Resources from the National Conservatory of Arts and Crafts, Paris, in 2011. H.E. Ben Amor has more than 10 years of experience in project management, technical operations, telecommunications and ICT development and policy, and ICT infrastructure development. H.E. Ben Amor is currently the general director of the Arab Information and Communication Technologies Organization (AICTO), a specialized Arab governmental organization working under the aegis of the Arab League which aims to promote development of ICT in the Arab region, a position he held since 2016. From 2011 to 2015, H.E. Ben Amor was Special Advisor to the Minister of the Tunisia Ministry of Information and Communication Technologies, where he was in charge of the International Cooperation Bureau. Prior to the above, H.E. Ben Amor held various positions in the Tunisia Telecommunications Research and Studies Agency for over 10 years, he last held the position of Director General from 2009 to 2011.

Mr. Tadić received an Honorary Doctorate from Dimitrie Cantemir Christian University in 2009. Mr. Tadić was formerly the President of Serbia from 2004 to 2012. Prior to that he served as the Minister of Defense of Serbia and Montenegro from 2003 to 2004 and the Minister of Telecommunications of Serbia and Montenegro from 2000 to 2003.

The changes to the Group’s Board of Directors include that with effect from 2 October 2024, Professor Guo Huadong has resigned from his office of non-executive Director, Dr. Mazlan Binti Othman has resigned from her office of non-executive Director, and Professor Wang Jianyu has resigned from his office of independent non-executive Director. Each of Professor Guo, Dr. Othman and Professor Wang has confirmed that he/she has no disagreement with the Board and that there is no matter in relation to their respective resignation that needs to be brought to the attention of the Stock Exchange.

USPACE’s globalization strategy continues to make substantial progress. The Company is gradually building a complete aerospace ecosystem, while innovating and creating core satellite products.

— End —

About USPACE Technology Group Limited (USPACE)

USPACE Technology Group Limited (USPACE) is headquartered in Dubai, United Arab Emirates and Hong Kong, China. The Company is committed to using outer space technology and application services to promote the sustainable development of the Earth and the progress of human society, aiming to become a leading provider of outer space technology and Earth application services.

The Group focuses on satellite manufacturing as the core of its business development, building an integrated commercial aerospace ecosystem, including satellite component manufacturing, precision electronics manufacturing, satellite data applications, satellite measurement and control, satellite launches, and the operation and management of the Abu Dhabi Space Eco City in the United Arab Emirates.

For further information, please visit https://www.uspace.com/

or contact: 

iPR Ogilvy Limited
Callis LauLorraine Luk
Tel: (852) 2136 6952 / 2169 0467
Fax: (852) 3170 6606
Email: callis.lau@iprogilvy.com / lorraine.luk@iprogilvy.com

Logo – https://mma.prnewswire.com/media/2521917/4947673/UPSPACE_Logo.jpg

 

 

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Tabs Continues Rapid Product Development with Official Launch of Intelligent Collections

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Tabs, the market leader in Revenue Automation, announced the release of Intelligent Collections, a feature designed to help B2B companies manage unpaid invoices, prioritize collections, and improve cash flow visibility, to address the unique challenges of managing receivables in high-growth environments.

NEW YORK, Oct. 2, 2024 /PRNewswire-PRWeb/ — Tabs, the market leader in Revenue Automation, today announced the release of Intelligent Collections, a feature designed to help B2B companies manage unpaid invoices, prioritize collections, and improve cash flow visibility. The release addresses the unique challenges of managing receivables in high-growth environments.

“The platform takes away the burden of recurring invoices, including custom partner invoices, and aging reports,” says Neha Narkhede, Co-Founder & CEO of Oscilar, a leading provider of cutting-edge risk technology solutions to fintechs and financial institutions.

Intelligent Collections reimagines Finance by bringing it the first Kanban intuitive interface that centralizes all aspects of collections. CFOs can now easily:

Prioritize unpaid invoices: Tabs’ dashboard allows users to filter and sort invoices by due date, customer, or amount, enabling finance leaders to focus their efforts on high-priority accounts. By removing the need for manual tracking through spreadsheets or fragmented tools, finance teams can ensure no invoices fall through the cracks.Send automated reminders: With customizable settings, Tabs enables users to send tailored reminder emails directly from the platform. These reminders can be scheduled based on pre-set intervals, eliminating manual follow-up and improving the likelihood of prompt payments.Track customer payments: Real-time payment tracking ensures users have an up-to-date view of which customers have made payments, allowing them to act quickly on any payment discrepancies.

In addition to its core functionality, the Collections Workflows feature also provides valuable insights by comparing current invoices against historical data, helping finance leaders identify trends in customer payment behavior. This historical perspective can be instrumental in predicting cash flow, spotting recurring late payments, and adjusting collection strategies.

Beyond Intelligent Collections, Tabs has recently launched a suite of additional enhancements aimed at further streamlining revenue operations for growing B2B companies. The updates include:

Renewal AI: Leveraging AI to manage contract renewals, this feature helps finance teams automatically track critical contract dates and identify upsell opportunities by flagging escalation clauses or contract value increases.Revenue Reporting: Beyond recognizing revenue in accordance with ASC 606, Tabs also launched ARR reporting. This helps finance teams get a sense of their overall business health. Further enhancements to reporting include time series analysis to visualize revenue and ARR trends by customer and category.Credit Card Fees Automation: Allow you the option to pass through credit card fees to invoices, enabling companies to pass fees directly to customers while offering flexible payment options.

Each of these features is designed to complement Tabs’ broader mission of providing a fully unified platform for revenue management. From billing and collections to contract renewals, Tabs ensures that all revenue processes can be automated and managed within a single system, eliminating the need for fragmented point solutions.

Streamlining Receivables for B2B Companies

Tabs’ Revenue Automation platform is built with the unique needs of SaaS startups in mind. As companies scale, managing revenue processes becomes increasingly complex, particularly as they deal with larger customer bases, more frequent renewals, and a growing volume of invoices. Tabs offers CFOs and finance teams a streamlined solution that automates these critical processes, enabling them to focus on strategic growth rather than manual administrative tasks.

“The platform takes away the burden of recurring invoices, including custom partner invoices, and aging reports,” says Neha Narkhede, Co-Founder & CEO of Oscilar, a leading provider of cutting-edge risk technology solutions to fintechs and financial institutions. “The Tabs’ product release velocity has gone unmatched these last few months since coming out of stealth. The team continues to make their vision for revenue automation a reality by churning out high impact features on a weekly basis.”

About Tabs

Tabs is a leader in Revenue Automation, offering an integrated platform that helps SaaS companies manage their revenue processes from contract signing to cash collection. By automating collections, billing, revenue recognition, and renewals, Tabs empowers finance teams to optimize cash flow and focus on business growth.

Media Contact

Andre Fuochi, Tabs, 1 469-394-7274, andre@tabsplatform.com, https://tabs.inc

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