Hottest Trends in Beauty for 2023 — and the Executive Hires Needed to Execute Them
ACCUR Recruiting Services has spent many years servicing the Beauty & Cosmetics industry through sourcing top executive talent in marketing, product design, finance and more. It’s an exciting industry and one that is continually reinventing itself through reformulation, new forms of distribution and much more.
Today we wanted to share some of the hottest trends that we see emerging in the space, especially within more rapidly growing startups and private-equity backed companies, because we think they have a lot of lessons for the sector as a whole.
Hyper focus on quality cosmetic ingredients
With a greater array of choices, beauty consumers are more discerning than ever. They want clinically tested ingredients which are as pure as possible and preferably organic. Beauty companies in turn have to do a lot more education for the consumers, and strike the right note between communicating effectiveness without sounding like a college-level chemistry tutorial.
Threading that needle requires skilled communications executives, especially in marketing, social media and digital strategy. One of our favorite examples of this done well is BeautyBio (which was backed by Kainos Capital). A bright website strikes the right balance between clearly and transparently talking about formulation while offering consumers the tools to personalize their skincare routine.
“Sustainable” doesn’t have to mean “granola”
We’re seeing an increased focus on natural, pure and sustainable ingredients, but this new generation of products is by no means “granola” or “crunchy.” Instead, we see a lot of bright hues and fun product design in this category, which products aimed squarely at the Gen Z market. One company that we have been impressed with is Kopari Beauty (which was backed by L Catterton). All of the company’s products begin with 100% natural coconut enhanced with active ingredients such as hyaluronic acid, AHAs, and peptides.
To work in cutting edge companies like this, we typically look for product executives who combine experience with major brands with a focus on product innovation and creative thinking that is always informed by data.
Digital Marketing that is “Social Media Native”
We’ve written in the past about the range of executive talent needed to reach digitally native Gen Z consumers.
Il Makiage (also backed by L Catterton) has taken the social media beauty space by storm, chiefly through its fundamental understanding of how younger consumers are shopping: which is primarily through recommendations through their social networks. Getting a makeup shade right via an online purchase used to be a guessing game, not so anymore through Il Makiage’s innovative digital platform.
We’re always keen to source executive talent with strong digital strategy and social media marketing skills. And for those in our network who want to beef up their knowledge in those areas, we recommend the following article.
Retail Reinvention Needed in Beauty
After the pandemic disrupted the way people shop for beauty, we’re seeing a return to a transformed retail landscape. Companies are contemplating spending more money to bring consumers into an experiential retail environment, where they can sample products and strengthen their affinity for the brand.
There’s no better example of this than Glossier, which recently opened a new flagship showroom in Soho to show off their product and encourage learning.
For beauty brands, we often are asked to look for talented executives who have a strong grasp of traditional retail but who also love to innovate, especially around experiential retail and retail that can build relationships with consumers used to experiencing a brand only in the digital space.
Need Help Hiring for Your Private Equity Backed Beauty Company?
We’re happy to talk about your specific needs. Contact us to discuss further.