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Predictions: The Future of the Beauty Industry

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UK media outlet The Telegraph published an article on Monday titled, “Beauty Timeline: 100 Years of Loveliness.” The article lists tidbits of beauty history, primarily focusing on new innovations and key milestones over the past century. The list starts with the invention of the first nail tints in 1914 by the brand Cutex and ends with the fact that the £15 billion British beauty industry is expected to grow by 8.5% by 2014. The same amount of growth is predicted for our nearly $55 billion industry here in the U.S.

Though I was surprised by a few omissions (ahem, Vidal Sasson!), the article contains some really fun and interesting facts. For example, did you know that Chanel No. 5 was the first fragrance commissioned by a fashion house, or that skincare product Creme de le Mer was developed by a NASA scientist in 1970?

The beauty industry continues to grow and evolve, which got me thinking, “Where does it go from here?” While I can’t even begin to fathom what the next 100 years will bring, here are my predictions for the future of beauty:

  1. Men’s grooming products and services will continue to grow. Men are already purchasing more skin and hair care products and enjoying services such as manicures and waxing. I see this expanding into men’s cosmetics and salon hair color services becoming more mainstream.
  2. The beauty industry, in combination with science, will develop products and services that dramatically reduce hair loss, eliminating baldness.
  3. In recent years, more pharmaceutical companies have been working to develop new, innovative products. The use of these often doctor-prescribed products will become more conventional and, in many cases, become over-the-counter.
  4. Anti-aging medspa services, such as laser resurfacing and injectables, will increase in popularity, driving down prices and becoming more accessible for the middle class.
  5. Lastly, I see a decline in cosmetic surgery. I don’t judge anyone, but some public figures have clearly gone overboard. It would be great if this caused a backlash toward a more natural beauty ideal.

Perhaps my predictions are better classified as hopes. What do you think will be the next breakthrough in beauty?

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