Beauty Store Business provides solutions for better retailing! New products, industry news, savvy business moves and important trends affecting both brick-and-mortar and online retailers are included in each issue.
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2 October 2017 | beautystorebusiness.com Kim Henderson, Executive Editor khenderson@creativeage.com Beauty or "wellness" supplements are no longer fringe; consumers want them— and believe they deliver results. Cashing in on Beauty From Within T he Global Wellness Institute esti- mates the global wellness economy to be worth $3.7 trillion—attributing a full $999 billion to the beauty and anti- aging market segment, according to its Global Wellness Economy Monitor from January of this year. Those are large figures. The desire for wellness is permeating multiple markets—overlapping them, melding them—and in the beauty industry, fueling the rise of a whole new line of products designed to deliver beauty from the inside out. This month, we have a profile on Moon Juice titled "Get Dusted" starting on page 12. It's an important read, even if you already know of its trendy line of adaptogenic, ingestible "dust" powders promising beauty and wellness benefits. Currently, as we go to press, it was announced that Moon Juice's line of Dusts will be sold in Sephora. What started as a Venice, Califorinia, green juice bar catering to healthy hipsters has now become a formidable beauty player with placement in one of the largest beauty retail chains. It underscores the new reality: Beauty or "wellness" supplements are no longer fringe; consumers want them— and believe they deliver results. So how can a beauty retailer capital- ize on this growing market and serve its customers with the most effective beauty supplements? Do your research! Start with market research. The global beauty supplements market is segmented on the basis of applications into skin care, hair care, nail care, dental care and others (overall health supplements). In terms of the best-selling categories, figures from a Markets and Research report show that the skincare segment dominated the global beauty supplements market with more than a 30-percent share of the total market in 2015, followed by the haircare segment. Market research information can help you make smart decisions about the products you wish to carry. You'll also want to educate yourself about what herbs and nutrients support gorgeous skin, hair, nails and general wellness. Look to the natural products industry, which is steeped in research and information about supplements. For example, visit nutraingredients.com, an excellent source for marketing and research information on supplements—including beauty supplements. The site even has a section with information about "Beauty from Within." Also, look carefully at the beauty supplement brands you are considering. Since results from beauty supplements are hard to measure, make sure you are choosing a quality brand backed by research. Ask questions about the formu- lations, the ingredients and their efficacy. I make these suggestions based on 15 years' experience reporting on and mar- keting supplements. It's exciting to see wellness and beauty come together. Helping your customers to be both healthy and beautiful is a good thing. Here's to beauty from within! ■ EditorÕs Note