CHICAGO, Sept 13 (Bernama-BUSINESS WIRE) — In the ever-evolving beauty industry, understanding and fulfilling meaningful consumer needs has become paramount, especially following significant shifts post COVID-19. NIQ today released its Global Beauty Innovation Report, powered by NIQ BASES Innovation Measurement providing a comprehensive view of the state of innovation and future trends in the beauty industry across 14 markets.
Personal Care Brands embracing innovation in 2023 are 2.5 times more likely to see overall sales growth compared to those with stagnant or declining innovation sales. Strong innovations attract new buyers, create new usage occasions, justify price premiums, and keep brands top of mind.