The dynamic beauty industry continues to evolve all the time, so business people and practitioners must always be ready to adapt to all changes. In Indonesia, the beauty industry is undergoing a vigorous process of recovery and strengthening especially after the pandemic. This can be seen from the existence of industrial growth which increases significantly over the years.
Data from the Central Bureau of Statistics (BPS) in 2021 reveals that the cosmetics industry in Indonesia has grown by up to 9.61%. Meanwhile, the Food and Drug Supervisory Agency (BPOM) recorded an increase in the number of Indonesian cosmetic companies up to 20.6% in 2022.
Cheong Min-Kyoung as President Director of COSMAX Indonesia explained that transformation is one of the keys to dealing with change by taking advantage of every available opportunity. “One of them is by implementing a transformation strategy in the form of technology and digitization which can strengthen the Indonesian beauty industry towards an advanced industry.”
COSMAX Indonesia as a Korean cosmetic manufacturing company in Indonesia is making posible efforts to create innovation and transform the Indonesian cosmetics industry. They introduces 2023 Beauty Trends concept, namely “STRONG” which can be applied by all related practicioners. This concept consists of Stand Out, Techceptance, Reconnect, Opportunity, Natural, and Glow-glazzy.
The gradually subsided pandemic has indirectly affected consumer behavior as a whole. It includes the use of beauty products. In 2023, consumers are predicted to completely redefine the functions and uses of makeup and skincare products.
Not only as a necessity for consumers, beauty products are also present as a medium for self-expression. It describes the use of bold make-up colors that are tailored to the personal identity.
Beside providing opportunities for self-expression, beauty products that use technology can also offer added value for consumers.
As the interest in beauty and skincare products increases, consumers are now not only aware of the selection of product ingredients that suit their skin problems, but are also beginning to accept and choose products that give added value in terms of technology to provide maximum effectiveness and efficiency.
Recently, the beauty industry has started to interact with customers through technological support in the form of live features, virtual filters, and others. In addition, nowadays there are many physical offline events that use technology to provide closer bonding to the beauty industry ecosystem.
The great combination of offline and online interaction with technological features and more immersive approaches can intensify the connection between consumers and beauty brands.
The growth of Indonesian cosmetics industry provides enormous opportunities for brands to provide added value and unique concepts to reach a wider market segmentation. New product concepts including clean beauty, hybrid cosmetics, conscious beauty, and other unique concepts are expected to emerge in the future.
Consumer demand for products that can produce proven-results is increasing. Therefore, consumers are starting to pay attention to efficiency, efficacy, and also sustainability values of beauty products.
This will be one of the alternative concepts supported by grown consumer awareness of ESG (Environmental Social Governance). In addition, there is an increase in consumer perceptions of safe, natural ingredients that are good for the skin and environmentally friendly.
The natural beauty trend is also supported by the look trend in 2023, namely Glow-Glazzy. It describes the look of healthy, radiant, natural skin with minimal use of makeup that reveals a natural skin tone by using multifunctional or hybrid products.
In order to support the development of Indonesian local beauty industry, COSMAX Indonesia presents innovations and beauty concept trends to meet market needs. These efforts are based on a commitment to present local beauty products with the application of globally standardized, renewable technology.