This story is part of Glossy’s “Look Ahead” series breaking down what brand and retailer executives can expect from the fashion and beauty landscapes in 2024. Click here for more stories in this series.
Across the beauty industry, executives are placing their bets on the marketing, product, content and category trends that will dominate next year.
As one might expect, this includes burgeoning sales channels and social media functions, as well as superstar ingredient and product categories that could flood the industry in the coming months. But which ones will shape the industry in 2024, and which will be forgotten before Q3?
Routinely at the forefront of beauty’s top trends are incubators, which nurture and grow new brands, and accelerators, which scale growing brands. To learn what’s going on in this category, Glossy checked in with leaders in the space to hear their thoughts going into the new year.
Focused on the mass and masstige price points, the predictions ahead include the “skinification” of hair care, the proliferation of peptides, and the continued blending of wellness and beauty into one category.
The ‘skinification’ of the hair and body categories
“We [have observed] consumers paying more attention to their hair health than ever before,” said Kristin Bibb, founder of AX Beauty Brands, which counts NatureWell and Orlando Pita Play on its roster. “There is a growing focus on products that offer a treatment routine, and an increased emphasis on scalp health is becoming evident. We are exploring ingredient trends in skin-care formulations for inspiration [in the hair-care category], with a particular focus on [top skin-care ingredients like] hyaluronic acid and niacinamide.”
Bibb also told Glossy that incorporating plant-based and scientifically-backed ingredients in hair care, including peptides and plant-based proteins, will continue to grow.
This shift is primed with consumers to impact other categories, as well, said Oshiya Savur, chief brand officer of Maesa, an incubator that has worked with brands like Kristin Ess Hair, Flower by Drew Barrymore and TPH by Taraji Henson. “In 2024, we’ll see that the lines between categories will continue to blur and significant ‘skinification’ of all personal care and beauty categories will accelerate,” she told Glossy.
More luxury brands will enter the masstige category
“We’re excited to see more luxury and prestige brands creating more affordable lines for masstige retail,” said Charlene Valledor, president and co-founder at SOS Beauty, an incubator that has made products for brands like Merit, Ouai and Patrick Ta. “There’s a strong appetite for accessible versions of these premium brands like Goop at these mass and masstige retailers. As long as the product integrity is maintained, these diffusion brands and exclusive retailer collaborations can be incredible brand-building opportunities.”
Wellness trends will shape beauty trends
“Consumers are showing an interest in a wide range of holistic wellness products including shower filters, beauty tools and supplements,” said Judah Abraham, CEO of Slate Brands, the incubator behind Insanely Clean and Hue by Hayley. “Our expectation is that brands will include more of these aspects into new product development while aligning their values to an increasingly conscious consumer.”
“There is a growing focus on addressing both internal and external stress,” said AX Beauty’s Bibb. “Ingredients such as magnesium and melatonin, known for their ability to alleviate internal stressors, are inspiring the creation of products that also relieve physical stress. [Some of these new wellness-focused ingredients in beauty products] provide support in strengthening the skin barrier and addressing skin sensitivity. [This includes] overnight masks and balms, as well as the layering of oils and serums [incorporated into a] nighttime, stress-relieving routine for skin and body.”
TikTok Shop and Amazon will be the most important sales channel of 2024
“We will see a significant evolution of sales to focus on two channels in 2024: Amazon and TikTok,” said Ari Bloom, founder and CEO of A-Frame Brands, the company behind Gabrielle Union and Dwayne Wade’s baby skin-care brand, Proudly, and John Legend’s Loved01. ”During the 2010s, brands were built on [a] direct-to-consumer [business model], and over the past four to five years we saw a significant move toward traditional retail. The next migration will be toward the two channels that currently have the most customers. That includes Amazon, which is now recognized as a must for all brands and finally has more favorable economics for lower-priced items, and TikTok which is increasingly focused on developing its commerce tools.”
“Where and when people shop will blur the lines [of traditional retail and DTC] even more,” said Maesa’s Savur. “Consumer journeys will get extra zig-zaggy, leading to an even more blended retail landscape between stores, e-retail and online shopping. TikTok Shop and Instagram Checkout will fuel impulse purchases in social media with increased purchases happening in the beauty and personal care space.”
The rise of science and technology in the mass category
“We’re anticipating a significant shift in the mass and masstige segments of the beauty industry toward tech- and science-backed beauty trends,” said Slate Brands’ Abraham. “This encompasses various aspects, from skin-care formulations incorporating scientifically validated ingredients like peptides and stem cells, to the integration of smart beauty devices. We also expect things like AR applications to become more common in the shopping experience, enabling virtual try-ons and enhancing online interactions.”
More consumer demand for transparency
“Our expectation is that 2024 will be a tech-driven era and, therefore, will also bring forth a stronger commitment to transparency,” said Slate Brands’ Abraham. “Beauty brands [will focus on] emphasizing education of the scientific principles behind their products, aligning with the growing demand for authenticity in the beauty industry. The customer is looking for reliable brands with strong values that are able to provide all the information they may need to make an educated decision on the product.”
“This expectation from consumers is not new,” adds Maesa’s Savur. “We have been seeing this since the advent of social media. However, over the past few years, it got amplified as consumers became even more knowledgeable about product quality, claims, company values and practices. Taking accountability for product quality, when any small error can turn into a viral nightmare, will put many brands to the test.”
“I predict that people will be more and more vocal about their expectations from brands, in terms of their environmental, social and political impact,” said SOS Beauty’s Valledor. “People are [already] demanding to know who these brands are and what they represent, [and it will continue next year].”
