Zhejiang Ukpack Packaging Co,.Ltd
Masstige brands like ZHUBEN are capturing the spotlight, selling 50,000 bottles of makeup remover in a one-minute live stream, while The Ordinary has amassed a staggering 220 million Instagram followers. Channel preferences are changing too, with 40-45% of Gen Zers favouring Direct-to-Consumer over legacy brands, drawn to their authentic, value-driven approach.
But it’s much more than the rising cost of living driving this shift. Prestige has been completely reimagined, with true quality not being defined by price, but by values, uniqueness and personalisation. The lines between beauty, health and wellness have blurred and there’s a growing pride in local culture. While brands used to reach consumers by talking to them through mass media, today consumers are often relying on word-of-mouth recommendations over traditional brand communications.
But how can you harness these trends? Start by considering:
- 1). What’s iconic to your culture? Integrate it into your product, design, and positioning.
- 2). Take a stance and play a meaningful role in society. Speak to values as well as to formulation and ingredients.
- 3). Harness cultural reactivity to leverage existing consumer
- 4). Maximise DTC as a communications channel to build communities, not just consumers.
The Masstige Beauty revolution may be resetting the game, but it’s also presenting powerful opportunities. By embracing individuality, culture, and community, beauty brands can thrive in this evolving landscape. So far, Masstige Beauty set for 40% growth by 2030.
Leading players are taking place, as the middle class grows and more women enter the workforce, masstige is set to drive growth in emerging markets. By 2030, the market is projected to expand by over 40%, with Asia, India, and Latin America leading the way.. What should you know?
→ Affordable luxury on the rise in emerging economies.
The rising middle class in emerging markets, especially in India and China, is eager for premium branded goods at affordable prices, driven by technological advancements and growing prosperity. This presents significant market potential for luxury consumption.
+Emotion, status, and pride → Aspiration triggers awareness.
+Product functionality, exclusivity → Price triggers purchase.
→ The rising middle class.
Expanding middle class in emerging markets is a key driver for masstige brands. These brand-conscious consumers seek higher-quality products at affordable prices, making masstige beauty brands ideally positioned to meet this demand. By 2030, the global middle class is expected to reach 5.3 billion.
+ By 2025, Asia estimated 3.5 billion people in the middle class,
+ 85% of this growth from Asia and Latin America.
+140 million middle-class customers from India.
+ 40% population of Latin America will be in this group.
→ The female workforce surge.
The increasing number of women in the workforce, especially in urban areas of India, Southeast Asia, and Latin America, is driving masstige beauty growth. With rising disposable incomes, women are spending more on beauty products. Over the past decade, female workforce participation in countries like Vietnam, Brazil, and Mexico has grown by 10%, boosting demand for cosmetics and skincare.
→ Market potential.
Masstige brands will account for nearly 35% of the total beauty and personal care market in these regions by 2030, up from around 25% in 2020.
+ India’s beauty 9.6% CAGR 2023-2028, reaching $32.7 b by 2028
+ Asia-Pacific’s beauty 6.5% CAGR during 2023-2028.
+ Latin America's beauty 6.3% CAGR over the next five years.
→ Consumer preferences and digital evolution.
Digital adoption is fueling masstige growth in emerging markets, with online sales rising rapidly in Asia and Latin America. India's online beauty market grew 87% from 2019 to 2022, driven by platforms like Nykaa and Flipkart. Social media influencers in Brazil, South Korea, and Indonesia further boost masstige brand promotion.
Here’s how Asian masstige brands are reshaping the industry:
- 1. Reinventing the luxury code: Developed to the beat of local culture
It’s no longer enough to have a great product at a high price point. Today’s sophisticated beauty consumer wants choices which align with their personal preferences, behaviours and cultural identity. Wising up to real-world performance, they’re demanding science-led formulations like The Inky List and compelling storytelling, like Florasis’ floral and herbal formulations.
But, instead of creating your own regime, trend-jack existing consumer behaviour. Think Proya, who capitalised on the Vitamin C morning and Vitamin A evening trend, offering a successful “Morning C, Evening A” serum and essence bundle during online mega-sales.
And when you’re appealing to religious, lifestyle and local needs, why stop at one? Brands like ESQA are tapping into halal-certified products with vegan ingredients, riding the wave of SEA’s rising purchasing power.
- 2. Redefining value, through values
In a post-COVID world, what a brand stands for is equally – if not more – important to a new generation of consumers that its ingredients and marketing. It’s no longer just about appearance; how your brand makes consumers feel is everything.
Masstige brands are taking a strong stance on societal issues, finding tribes that align with their values. Singaporean brand PSA champions its LGBTQI+ ownership, using its platform to spread a message of inclusivity and transparency, acting as an ally to the disenfranchised.
Meanwhile, others are challenging existing beauty standards, or going beyond “better for the earth” with circular options that speak to sustainability concerns.
- 3. Reimagining DTC: Getting closer to consumers
In the digital age, DTC goes beyond distribution—it’s a communication and community-building channel to forge deeper connections. This has seen brands like Florasis co-create products with influencers and establish communities of fans in private WeChat groups to garner – and keep – private traffic. Because what’s better than creating fan-based buzz, before the product is even launched?
- 4. Designed to be shared: Packaging that resonates
As emerging markets gain confidence and purchasing power, incorporating local design elements can be a powerful differentiator that speak to both local skin types and needs, but also to local pride. From Florasis’ craftmanship and design inspired by imperial China to Kulfi’s Indian-specific, Bollywood-inspired palette and bold packaging, masstige brands are using local design cues to resonate with their target market.
Conclusion.
Masstige brands are driving growth in emerging markets like Asia, India, and Latin America, fueled by demographic shifts, economic changes, and digital adoption. As the middle class expands and more women enter the workforce, these brands are set to dominate. I leave you with my curated search of examples, I wish it inspires you for tour next Hit.
Post time: 2024-09-23 13:52:28
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