Values, niche needs, brand consistency to drive beauty business in 2024: Poulomi Roy

It’s that time of the year when we review the most significant industry developments as the year draws to a close. Adgully is reviewing the year 2023 for the M&E, advertising, digital, marketing, PR, and communications, along with leading names in the industry as part of our annual Rewind series.

Recapping the year 2023, Poulomi Roy, Chief Marketing Officer, RSH Global, shares how there has been an evident willingness among consumers to pay a premium for the product, a notable increase in sunscreen and moisturisation sales, and much more…

How Beauty business fared in 2023

The year 2023 has been favorable for the beauty sector, says Poulomi Roy, adding “We experienced a notable uptick in demand for our products, particularly with the introduction of our extensive line of sunscreens. The market response to our sunscreen portfolio has been encouraging, indicating a growing interest among Indian consumers in investing in high-quality personal care items and embracing innovative product formats.”

Additionally, she said, there has been an evident willingness among consumers to pay a premium for products that meet their expectations in terms of quality and efficacy.

Key trends dominating Beauty sector in 2023

Roy noted, “In our sector, we have observed notable trends taking shape. In our tropical setting, sunscreen has always been a key consideration, and we are now witnessing a heightened interest in this category. Consumers are actively seeking quality sunscreens for daily use, as well as more advanced options for special occasions.”

Furthermore, there is a noticeable increase in the demand for year-round moisturisation. Consumers are prioritising a light, skin-friendly experience that offers substantial hydration benefits. This shift has prompted exploration into a variety of moisturisation products tailored to different skin types and adapting to various seasonal conditions.

Outlook for 2024

Looking ahead to 2024, Roy anticipates a surge in consumer exploration of diverse sunscreen formats. The evolving lifestyle of consumers is likely to drive interest in trying new-age products, supported by the emergence of innovative products and varied accessibility channels. This may result in an increased willingness among consumers to invest more in high-quality products.

Moreover, Roy foresees the industry progressing beyond basic, need-based products to introduce advanced formulations catering to niche needs across different categories within the personal care sector.

Beyond functional benefits, consumers are expected to seek brands that align with their values and principles, emphasising the importance of brand consistency and shared beliefs.