According to the Global Wellness Institute, the current wellness market is now valued at $4.2 trillion that has grown by 13 percent in the last two years.
As 2018 is about to end, the beauty and wellness industry has reached a level where it sustains numerous business opportunities for entrepreneurs/franchisors. 2018 experienced new investors and business ideas that highly participated in transforming this lucrative industry.
According to the Global Wellness Institute, the current wellness market is now valued at $4.2 trillion that has grown by 13 percent in the last two years. In fact, the industry now represents 5.4 percent of the global output economy.
Many franchisors tried amalgamating the beauty and wellness services together in order to provide some new and different experience to the modern day customers. One of the key factors that drove change in customer’s expectation is the trends that invaded the industry.
Here are some trends that invaded the beauty and wellness industry in 2018.
Personalized Hair and Skin Care
Personalized care products became a new fad in the beauty and wellness industry in 2018. Various brands entered this business sector with an aim of offering personalized services to their clients. From personalized shampoo to DNA –sourced skin care products, the industry welcomed such services with great curiosity.
The process involves scanning a customer’s skin for the exact shade, customizing the formula, and preparing it immediately in the store.
Clean Beauty Dominated the Industry
Clean Beauty are products that are mindfully created and produced without any proven or suspected toxic ingredients. They include ingredients ethically sourced and are made with the health of our bodies and the environment in mind.
Along with the rising organic health food trend, Indian customers have shown a great interest in healthful and clean products as well. As this new product and service line is becoming popular, franchisors are coming up with skincare products such as charcoal face masks, enhancing the beauty and experience naturally.
Beauty Box Subscriptions
This particular segment experienced a boom because of the rapidly expanding e-commerce industry. As offline franchisors are now shifting towards the online platform as well, the beauty box industry has expanded drastically in the last three years.
The craze for subscription box is expected to reach a new height with new e-commerce websites emerging rapidly in the Indian business industry.
With all of these different options, subscription boxes are a popular way to a curated experience for the modern day customers.