The future of beauty and wellness

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Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   New from McKinsey & Company   Curated by Katherine Tam   Digital Editor, New York The future of beauty and wellness: Inclusive, personalized, and sustainable Beauty and wellness often go hand in hand, and both industries are undergoing a makeover when it comes to how they cater to customers' evolving needs. Greater personalization, connectivity, and authenticity are changing how consumers relate to, try, and buy products and services—and sustainability and inclusivity are quickly becoming priorities for both beauty and wellness companies. "The Black consumer has different concerns about how we utilize beauty products. ... There needs to be a lot more listening," Traci Ellis Ross, founder and CEO of Pattern Beauty, said in an article authored by associate partner David Baboolall, senior partners Tiffany Burns and Kristi Weaver, and partner Ammanuel Zegeye. Check out these insights to see what's in store in beauty and wellness. Read more Taking a good look at the beauty industry After a challenging year, beauty brands are bouncing back. The most successful ones offer a distinctive omnichannel customer experience while prioritizing sustainability and inclusivity. Understand the dynamics  Black representation in the beauty industry Black beauty consumers and brands face deep challenges when it comes to equity. Removing those barriers can lead to greater opportunity for everyone in the industry. Flip the script  Meet the Black beauty execs Creating a path to a more equitable beauty market for Black brands represents a $2.6 billion opportunity. McKinsey talked to four founders and entrepreneurs who are leading the way. Lead the way Black beauty brands and consumers: Where do we go from here? Inequity is rife in the beauty industry, says a new McKinsey report. Ulta Beauty CEO Dave Kimbell and two of the report's authors discuss how to better support Black brands and serve Black consumers. Pay attention  The beauty battleground: The sprint to win on services Beauty companies looking to capitalize on fast-evolving trends should act on the growing convergence of brands that offer beauty products and brands that offer services. Win on services  How to thrive in the global wellness market Consumers everywhere plan to spend more on products and services that improve their health and wellness. Here's what that means for companies. Take a mindful moment  What beauty players can teach the consumer sector about digital disruption As many consumer businesses struggle to deal with the pace of change, the beauty sector shows the way. Adapt to win Are personalized vitamins the future of wellness? Two fast-growing vitamin companies, HUM Nutrition and Vous Vitamin, are betting on personalization. Listen to their CEOs discuss the biggest trends in consumer health and wellness. Make it unique  From extreme to mainstream: The future of aesthetics injectables McKinsey research shows that the global aesthetics injectables market could grow by 12 to 14 percent a year over the next five years if manufacturers and providers capitalize on the underlying trends. 5 trends  Wellness in 2030 In this video, McKinsey experts imagine the future of the fast-growing wellness industry. 6 areas for wellness  To see more essential reading on topics that matter, visit McKinsey Themes. Follow our thinking Share these insights Did you enjoy this email? Forward it to colleagues and friends so they can subscribe too. Was this forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. McKinsey Insights - Get our latest thinking on your iPhone, iPad or Android. This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to our Healthcare Systems & Services alert list. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007