Growing your business
Industry Insight: Beauty and Hair Trends
For many, the new year often means finding fresh inspiration and trying something new - and business owners are certainly no exception to the tradition.
As the health and beauty industry prepares for another year ahead, they’ll be looking at forecasted trends and industry insights to help give their salon a boost; looking to stand out amongst the 40,000 hairdressing and beauty businesses in the UK with innovative ideas.
Here are some 2018 beauty and hair trends that we’ve put together to help get you started:
If you stock hair and beauty products in your salon, chances are you’ll have noticed an increase in demand for natural and allergen free ranges. This is set to be a even bigger trend in 2018 as customers become more and more aware of the health benefits associated with the products that they use.
In fact, according to statistics from industry research agency Mintel, 50% of UK consumers who buy beauty products look for products made with natural ingredients.
Vivienne Rudd, Director of Global Innovation and Insight at Mintel, says “In the coming year and beyond, the beauty industry will navigate the conflicting demands of the ‘naturals-hungry’ consumer with shrinking natural resources and it will be through harnessing biotech advantages that a new generation of enhanced natural products is created."
The organic beauty boom is a fast-growing industry - expected to reach $13.2 billion this year - and means that salons should be taking note of what they’re offering. Asking customers what they’d like to see on the shelves and looking to locally-sourced products could be a good place to start when it comes to stocking natural products.
Whether it’s booking appointments online, sending out SMS appointment reminders or paying for services through an app, the use of mobile devices will continue to be prevalent when it comes to beauty and hair trends in 2018.
Consumers are now expecting more seamless customer journey - from booking an appointment right through to completing a transaction - via one device with ease and speed. And with the rise of payment methods such as Apple Pay and Android Pay, this has never been easier.
The popularity of social commerce - purchasing products directly through social media - will also continue to grow as customers are once again drawn to the simplicity of the task; gaining inspiration from social media posts, browsing multiple products on their phones, and finally make purchases through one device.
As a business owner, this could mean revising the mobile experience you’re offering to your customers, looking at your mobile payment options and also considering social media commerce options.
In-store Vs Virtual Experiences
Recently, there has been a rise in virtual experience technology, as developments have made it possible for businesses to deliver more personalised experiences for their customers.
This has been a contributing factor to the continued development of beauty and hair apps and gadgets. These technologies use imaging tools to allow users to test out new hairstyles, and virtually try on makeup by matching products and colour palettes to their skin tones. Some of the more advanced apps will even go as far as to use customers’ biometric data such as facial expressions and eye movements to determine their preferences and what products are most suited to them.
While virtual experiences will be stealing a lot of the limelight, in-store experiences will still be very important in 2018. One example of this is Selfie Stations, a concept which has remained popular due to the continuous rise of social media and user-generated content. Selfie Stations are designated areas in a salon where customers can take ‘staged’ photos of themselves and upload them onto social media, usually with a hashtag. These stations can include mirrors with your salon logos, slogans or hashtags printed on them. They can also incorporate props or anything that encourages an opportunity for a selfie!
You may already have some of these trends in place or maybe you’re thinking about incorporating a few into your 2018 plan. Either way, now could be the perfect time to try something new!
And if you're looking for some additional funding to support your business development, check out our Business Cash Advance! A flexible, simple solution to business finance.