The future of beauty is being shaped by multiple factors all at once. The interconnected ness of environmental concerns and sustainability, technology, regulations, influencers, inclusivity and changing demographics create a dynamic marketplace for beauty brands. among them.
Evaluating this complex marketplace to determine what’s next for the industry requires unique insight and a balanced and informed approach. That’s why Lubrizol Life Science – Beauty (LLS Beauty) created Foresee Lab™, a program which combines science, future thinking and consumer and market insights to give brands a clear picture of the future of beauty. This allows clients to anticipate and benefit from new developments while giving their customers what they desire as soon as they want it.
It begins with a deep understanding of social macro trends. Through environmental scanning and morphological analysis, Foresee Lab™ has developed a comprehensive beauty trend model that tracks trending social values ranging from inclusivity and individuality to progress and sustainability.
In partnership with LLS Consumer and Market Insights team, Foresee Lab™ collects key market and consumer insights locally and globally to identify growth opportunities. For example, an online product review analysis tool uses AI to identify millions of consumer reviews across different beauty segments while agile video analysis captures consumer behavior for quick feedback on ideas and concepts.
Finally, Foresee Lab™ connects these trends and consumer insights with the LLS Beauty portfolio of active and functional ingredients and expert formulation capabilities. The results are new market concepts and product line opportunities for clients, as well as new formulations that enhance performance, deliver esthetic benefits, and provide a superior sensory experience for consumers.
LLS Beauty clients don’t need not worry about the future of the industry. With Foresee Lab™, they can make decisions today to shape the future of beauty that they envision.
