LAGOS/Nigeria: With the advent of diverse beauty products, beauty is in the eyes of the Beholder is no longer a cliche. Beauty is in the eyes of all Beholders is the new cliche. The beauty industry is a growing industry worth billions of dollars.
Companies such as Black Opal, L’Oreal, Revlon, Neutrogena, Ponds, MAC are competing to dominate the market, especially the African market. There were times when markups and skin products were limited to a few generic ingredients.
Now, companies are beginning to understand that skins vary, especially in Africa. Factors such as skin pigmentation, skin texture, skin tones, are all part of the consideration when creating new products or modifying existing ones for the African market.
The essence of this content is to highlight how the Beauty Industry has changed over the years. It is expected to guide new companies with keen eyes on Africa trying to penetrate the market.
The Beauty Industry in Africa
The beauty industry in Africa is expected to be worth £10 billion as Africa is the second most populous continent in the World. It is expected that the growth of the African population will hit 2.4 billion people by 2050.
The beauty industry is yet an untapped market as there are several segments such as cosmetics, hair care, perfumes and colognes, skincare, antiperspirant, oral hygiene, shaving products, luxury spas, etc. which have the numbers for growth.
The beauty industry is still growing with the burgeoning population growth. The largest market is South Africa, followed by Nigeria and Kenya. The predominant products in demand are the hair and body care products.
This is because of the African hair texture which requires samples, testing, and research. Africans from the west tend to have coarse and stronger hair while Africans from the East tend to have finer and soft hair texture. These require different products to match individual skins and colors.
The beauty industry is currently divided between local products and international products. The goal is to target the skin types of users. It is no surprise that L’Oreal changed its tagline from a beauty company to an “a tech beauty company” by introducing Artificial Intelligence to find the best skin products for its users. By so doing, they are recognizing the multifarious needs of the consumer market is in turn, is their greatest business opportunity.
Now, L’Oreal is out to dominate the market, can other competitors in the Africa market join the race for domination or fizzle out?
The Changing Role of the Beauty Industry in Africa
Technology has come to disrupt all sectors and industries in the world. Africa is not shy of the impact. There are several investors and venture capitalists looking to pour in resources in the African market.
The Beauty industry is not spared as newer technologies such as AI, Data Analytics and Machine Learning are introduced to help determine the skin type, skin tone, skin texture, hair texture, allergy, age, hair color, and sex of its users.
These technologies process the type of product to use simply by recording some data and facts such as age, gender, color, allergy, usage, etc. about its users.
The millennial are no longer interested in the traditional brands introduced to them by their parents, they are venturing out on their own to discover new and local companies that fit their body and hair type.
Also, the old days to go to a shop to buy or sample a product are gone. Now, the era of the internet and E-commerce is reigning. No one wants to walk into a shop when they can buy whatever they need online.
Angels Beauty Lounge, a leading beauty, and the cosmetic company is part of the companies dominating the beauty industry. It offers a wide range of products for all skin types and the best part is that all products are not localized to a geographical location or to a particular skin type too.
All products offered targets diverse skin and hair and are intended to appeal to millennial. Our online store can be accessed from anywhere in the world and each product purchased is delivered at the doorstep of our customer with ease.
On the choice of skincare products, Angel Beauty Lounge is the beauty lounge for skin products that are unique for all Continent weathers.
Although there are several solutions out there, your skin solutions are the best and are curated from rich organic and natural ingredients.
This sets us apart in the industry as your go-to-destination for skin products. After using our product, do share your testimony with us! Always remember that healthy skin is a perfect skin.