Consumer Goods

The Evolution and Future of Multifunctional Beauty Innovation

  • CAN376409
  • 34 Pages
  • April 2015
  • Consumer Goods
Summary
While the concept of multifunctional is not new, the explosion in popularity of alphabet products (BB, CC creams) has resulted in renewed interest with all-in-one innovations and highlighted the evolution of multifunctional solutions beyond "two-in-one" products and towards more complex, cross-category innovation featuring up to 15 different benefits.


Synopsis
- Gain an understanding of what is driving the multifunctional trend, including convenience, value for money, and simplicity.

- Offers insight into the latest trends in multifunctional innovation and opportunities going forward.

- Provides insight based on results from Canadean Consumer's latest surveys, including the 2014 Q4 survey.

ReasonsToBuy
- What are the key drivers influencing the multifunctional beauty space?

- How do perceptions of multifunctional innovation differ by age, gender, and region?

- Going forward, what are some of the potential opportunities and key considerations for future multifunctional innovation?

Key Highlights
While the alphabet trend has rapidly established itself as a key innovation approach within today's multifunctional beauty innovation, brands are continuing to rejuvenate and refresh this segment through the expansion of the alphabet marketing tool, new packaging approaches, and expanding alphabet innovation beyond skin-targeted categories.

Despite the popularity of multifunctional, efficacy perceptions remain relatively low compared to other benefits such as value and convenience. While this can be seen as a threat, it also represents an opportunity for brands to enhance efficacy credentials such as through the use of active ingredients.
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