Think Beyond the Product
What if the next opportunity for beauty brands isn’t another product? Drawing on Mintel’s 2027 predictions, I explore what it means to think beyond what you sell and why becoming more useful doesn’t necessarily mean launching more.
I have recently been reading Mintel's 2027 Global Predictions (you can download the insights here for free, I highly recommend!). These predictions reveal the shifts and changes in consumer behaviour, and where Mintel are predicting new opportunities will open up and how brands can act on them.
The direction Mintel described in this trend report is fascinating.
The question they ask is:
"Have the most pressing and necessary products already been invented?"
For an industry like beauty, where brands so often respond to consumer needs by launching another product, this is a very valid question. Across multiple categories, Mintel states that whilst innovation continues, it is incrementally built on what already exists. Brands typically respond to consumer demands by creating more and more products. The result of this is saturated markets, more confusion for consumers as they struggle to differentiate and an innovation landscape that doesn't feel particularly new.
So, what's a brand to do?
Sign up for free, or login to continue reading...
