The Global Beauty 2024 report reveals how TikTok is reshaping consumer habits and preferences among younger shoppers in the cosmetics sector.
The Global Beauty 2024 report reveals significant shifts in consumer shopping behaviour, particularly among Generation Z, influenced by the rise of smartphones and social media. As the report indicates, traditional search engines are seeing a decline in usage for product discovery, especially among younger shoppers. Notably, 43% of GenZ consumers in the United States now initiate their product searches on TikTok, compared to just 19% of the overall population. Additionally, 42% of these younger shoppers turn to YouTube for their initial searches, according to Jungle Scout’s Consumer Trends Report.
TikTok, a platform predominantly frequented by younger audiences—40% of its users are aged between 18 and 24—has become a significant marketplace for various brands, particularly within the cosmetics and beauty sectors. The app boasts more than 20 million users in the UK alone, with users spending an average of 70 minutes per day on the platform. This extensive engagement provides a prime opportunity for brands to market their products effectively.
TikTok Shop’s introduction reflects the platform’s strategic direction of merging social interaction with e-commerce. In 2023, TikTok launched its TikTok for Shopify app, allowing merchants to seamlessly create advertising campaigns and synchronise their product catalogues with in-feed videos and live broadcasts. Nicolas Le Bourgeois, Head of TikTok Shop US Operations, stated, “e.l.f. has thrived on TikTok Shop by engaging with the community and building exciting, culturally relevant moments.”
Sarah Znideric, VP of Global Partnerships at Linnworks, described this evolving landscape, noting that TikTok is undergoing a “paradigm shift in online marketplaces.” She emphasised that its commitment to ‘community commerce’ enhances its position as a vital player in the e-commerce sector. Meanwhile, RetailX’s marketplace commentator Paul Skeldon highlighted the platform’s growth, noting it recorded web visits of 24 billion over the year leading to October 2023, closely trailing behind Amazon’s 29 billion.
Despite its rapid ascent, TikTok faces regulatory challenges, having previously been banned in India, and its future in the US remains uncertain due to geopolitical tensions. Nonetheless, the platform’s integration of engagement and commerce is in line with the global trend towards ‘super apps’ that facilitate multiple activities within a single platform.
Another trend highlighted in the report is the surge in popularity of livestreaming for beauty brands, generating significant consumer engagement. Sephora has embraced this model, with Alexandre Meerson, Chief Digital, Data and Technology Officer, EMEA, noting that the response has exceeded expectations, stating, “That was really, really an eye opener.” The popularity of livestreaming is particularly pronounced following successful launches like Lady Gaga’s Haus Labs brand on the platform.
The Global Beauty 2024 report underscores a vibrant industry dynamic, with consumers demonstrating passionate loyalty to specific brands while remaining eagerly engaged with emerging products. This infusion of new technologies and trends is reshaping the beauty marketplace, presenting both challenges and opportunities for businesses in the sector.
Source: Noah Wire Services
- https://internetretailing.net/report-hub/global-beauty-sector-report-2024/ – Corroborates the trend of GenZ consumers initiating product searches on social media, specifically TikTok, and the growing importance of social platforms as marketplaces.
- https://internetretailing.net/report-hub/global-beauty-sector-report-2024/ – Supports the information on the regional breakdown and consumer spending patterns in the beauty and personal care sector, including the dominance of the Asian market.
- https://www.businesswire.com/news/home/20241209875192/en/NIQ-World-Data-Lab-and-SPATE-launch-Beauty-Futures-Report—A-guide-to-generational-journeys-of-global-beauty-buyers – Provides insights into generational preferences, spending habits, and the influence of Millennials and Gen Z on global beauty trends, aligning with the report’s findings on consumer behavior.
- https://www.businesswire.com/news/home/20241209875192/en/NIQ-World-Data-Lab-and-SPATE-launch-Beauty-Futures-Report—A-guide-to-generational-journeys-of-global-beauty-buyers – Highlights the role of TikTok in influencing beauty trends, particularly among Millennials and Gen Z, and the increasing interest in specific beauty products and services.
- https://www.numerator.com/resources/blog/beauty-trends/ – Supports the trend of younger generations, such as Gen Z and Millennials, prioritizing clean ingredients, natural products, and SPF in their beauty purchases.
- https://www.numerator.com/resources/blog/beauty-trends/ – Corroborates the growth in specific beauty product categories, such as skincare and makeup, and the consumer desire for both value and prestige brands.
- https://internetretailing.net/report-hub/global-beauty-sector-report-2024/ – Provides details on Sephora’s approach to omnichannel and personalization, and the success of livestreaming in engaging consumers, as mentioned in the report.
- https://internetretailing.net/report-hub/global-beauty-sector-report-2024/ – Supports the information on the economic and inflationary impacts on the cosmetics and beauty industry, affecting consumer spending and product prices.
- https://www.businesswire.com/news/home/20241209875192/en/NIQ-World-Data-Lab-and-SPATE-launch-Beauty-Futures-Report—A-guide-to-generational-journeys-of-global-beauty-buyers – Highlights the projected growth of the global beauty sector, with Asia contributing significantly to the market, aligning with the report’s economic and market context.
- https://internetretailing.net/report-hub/global-beauty-sector-report-2024/ – Corroborates the integration of social interaction with e-commerce on platforms like TikTok, reflecting the trend towards ‘super apps’ and community commerce.
- https://www.numerator.com/resources/blog/beauty-trends/ – Supports the consumer loyalty to specific brands and the enthusiasm for emerging products, reflecting the dynamic and evolving nature of the beauty industry.
