As the world is moving towards an experience economy, businesses in the hair and beauty industry are placed well for this shift.
According to Euromonitor, Global haircare market is estimated to grow up to $74.1 billion in 2018, welcoming new innovations and trends to the hair care industry. With the changing customer expectations, hair care industry is adapting to the requirements by offering the needful. Franchisors can be seen providing tech-driven services for individual hairstyles.
Examining the current reports on hair care, franchisors must watch out for these three emerging trend:
Hair goes techy
Franchisors can be seen using digital technology for providing the customer with better-personalized services and experiences. 3 D coloration technology and VR can be the new innovation hitting the industry in near future. These techs are supposed to connect with customers, assisting them in finding the right service. The Internet age is one big reason behind this trend as beauty bloggers are providing exposure to new, niche brands.
Nitin Manchanda, Creative Director, Wella Professionals India, says, “Innovation is the key for any brand. With a consumer that is this evolved, the brands need to constantly innovate with newer methods and technologies that will suit the consumer today.”
Skincare for hair
Korean beauty trends continue to influence the hair care industry globally, with new regime ready to enter the industry. Due to the constant innovations, franchisors are now also providing care for hair and scalp both. Brands can be seen offering hair moisturizer infused with nourishing prickly pear to care for the hair and scalp.
Treating hair loss
The improved formulation can be seen in the hair care industry, expecting to create a buzz. Thanks to new ingredients and technology, franchisors are coming up with many ideas and gadgets, promoting hair growth. Franchisors can be seen using HairMax Laser Comb for hair loss treatment, which is officially approved by the Food and Drug Administration (FDA). It stimulates hair follicles by transmitting light waves via a process called photobiostimulation. Over 93% of male and 95% of female subjects tested experienced renewed hair growth after use.