Hello again! Its been a while since my last communication but Business School has taken up a lot of my time. However, don’t despair; there are many more interesting things in the pipeline!
In the meantime, I thought I would share some of the tips and tricks I managed to pick up over the years from my obsession with the beauty industry. Specifically, how both consumers and business professionals can stay up to date with what is currently going on in the beauty industry. Please share if you have any other tips and tricks that haven’t been mentioned here.
As a Consumer
Because of the huge presence of social media in the beauty industry, I will split this section up into social vs. non-social media.
In my opinion, Instagram is one of the easiest ways to get updates on the latest beauty news. The three main Instagram beauty accounts are Companies, Influencers, and Beauty News (not all of which have to be MECE). Because, for obvious reasons, posts on beauty rely heavily on visuals, the Instagram platform makes it easy for beauty companies to share their tutorials and product launches and engage consumers in comments and giveaways.
However, beauty influencers are just as important. Not only do they act as trusted advisors, but they are often the first to share exciting news about new brands. (I will be discussing the benefits of influencers further on in this post).
A favorite beauty news account of mine that you can check out is @trendmooddeals and @trendmood1 as her posts include regular updates on new deals and the latest product launches.
Blogs are great for obtaining more in-depth knowledge about products such as their ingredients for example. One of my favorites is Temptalia, where you can find extremely detailed reviews on certain products. It is also a heaven for all the dupe queens out there who will love the side-by-side comparisons of different products. For Korean skincare, I frequently visit a blog by ‘TheKlog’ which is run by Sokoglam. (You may remember Sokoglam as the Korean skincare retailer that popularized the now famous 10-step Korean Skin Care Routine).
Who can get away from good old YouTube? As a prime location for tutorials, this is where it all started. Here’s to all the fans of Michelle Phan out there! Nowadays, however, I often view YouTube as an extension of Instagram. Sometimes, when coming across an interesting post while browsing through Instagram, I find myself clicking over to the accompanying tutorial or video on YouTube. Similar to blogs, YouTube videos provide me with more in-depth content after a quick peek at what is provided on Instagram. One of my favorite influencers on YouTube/Instagram is Stephanie Nicole, who provides detailed and informative reviews on beauty products. Because she has worked in the beauty industry for a long time, she has gained a lot of valuable knowledge that is way ahead of what other influencers are able to provide.
The endless landscape of social media includes other channels with platforms like Facebook, Twitter, Tumblr, and Blogs, in addition to Instagram and YouTube. However, when it comes to keeping up with things on social media, YouTube and Blogs are definitely my favorites. What are yours?
Your best bets for keeping up-to-date with the latest beauty trends in the United States are Sephora and Ulta. Specialty skincare retailers like The Face Shop and smaller retailers like Blue Mercury are also popular destinations for new product releases.
No matter where in the world you go, there are endless different TVS shows related to beauty and fashion. The great thing is that you can learn so much from different techniques in all culture.
I personally use Aus IPTV to tune into TV shows from loads of different countries.
While NRF Smart Brief is not really beauty-specific but more retail focused, I personally like them a lot as they provide me with great news on recent investments, mergers as well as new innovations in the retail environment.
For general industry research and trend forecasts, one of my favorite websites is Mintel as they do a great job at condensing information into useful infographics.
AbisWorld is great for providing detailed reports on specific industries, comprehensive overviews on specific factors currently affecting the beauty industry, and defining the key players involved.
The following websites provide great general beauty business news, some of which are free while others with more detailed articles may require a subscription fee. Many of these invite you to subscribe in order to receive emails from them.