According to a recent Cosmetics and Personal Care Report, the beauty and personal care sector is predicted to generate an astounding US$1.14 billion in revenue in 2023. This figure is a substantial increase from the anticipated US$1,056 million forecasted in 2019.
With the market set to grow annually by 1.14%, it appears the sky’s the limit for Singapore’s beauty and personal care industry. The report also revealed that by 2023, a whopping 32% of the total revenue in the Beauty & Personal Care market will be generated through online sales.
It’s a prime time for beauty brands and marketers to thrive, and our Marketing Intelligence Report Software can help your brand to do so.
Beauty Industry Consumer Behaviour Report 2023: How we conducted our survey
For the past nine years, Daily Vanity has been conducting an annual large-scale beauty industry consumer market survey to gain a deeper understanding of beauty consumers in Singapore.
This survey has enabled us to consolidate valuable information that is highly sought after by many marketers, business owners, country managers, and researchers who are looking to better comprehend the beauty landscape in Singapore.
As the official data partner for Statista, the Global No.1 Business Data Platform, we provide useful insights to many business leaders and marketers around the world.
Our survey has been instrumental in providing vital insights to marketers, business owners, country managers, and researchers around the world who are looking to gain a deeper understanding of the beauty industry in Singapore.
To conduct this survey, we invested over S$200,000 into advertising, data collection, cleaning, crunching, and software development. By recruiting participants primarily via Meta ads, we asked them to take a 20 to 30-minute online survey in February 2023.
A total of 910 participants based in Singapore took part in this research. The female sample size of 839 gives the survey results a 3.38% margin of error (usually a margin of error between 3 to 5% is considered acceptable), based on a 95% confidence interval for Singapore’s female population of 1,427,770 between the age of 15 to 64 years old.
This means that should the survey be repeated 100 times, it will yield the same results 95 times with a +/-3.38% to the responses. It also indicates that the survey results are highly significant, and can be taken as a good indication of the overall market’s sentiments.
With our rigorous data collection methods and expert analysis, we aim to continue providing valuable insights that will help businesses make informed decisions and stay ahead of the competition in Singapore’s dynamic and ever-evolving beauty market.
The good news is that you can access our report for free. Read till the end of the article to find out how you can receive a copy.
Insights that can be discovered from our Beauty Industry Consumer Behaviour Report
Which beauty brands do consumers in Singapore trust most?
When it comes to skincare brands, consumers in Singapore have a preference for Korean brands, such as Innisfree and Laneige, which take up the first two spots in the Most Trusted Skincare Brands Ranking in the Beauty Industry Consumer Behaviour Report 2023. This shows us that the popularity of K-beauty has maintained over recent years.
Meanwhile, Cetaphil nabs the third spot, overtaking Kiehl’s, which now occupies the forth. Meanwhile, Estée Lauder places fifth.
Among haircare brands, L’Oreal Paris remains a top trusted haircare brand in 2023, just like it did in 2022. L’Occitane rose in the ranks to take the second spot, while Dove placed third.
In the world of makeup, Dior Beauty took over Innisfree’s first place, climbing up eight positions from 2022. Bobbi Brown and Maybelline also showed significant improvements in gaining consumer trust, jumping five and six positions respectively to take the third and fourth places.
In our free subscription, you’ll be able to view the top 10 brands for skincare, makeup, as well as haircare brands in Singapore. The data is also further broken down to show you the Korean, Japanese, and drugstore brands that are most trusted by consumers in Singapore. In our paid subscription, you’ll be able to view a more extensive, broken-down version.
What are the top beauty concerns?
For those marketing skincare, makeup, haircare products, and aesthetic services, it is important to know the most prevalent beauty concerns among women in Singapore.
Knowing this information can help develop a marketing strategy that resonates with consumers by addressing their specific pain points, helping you create a more relatable marketing message that speaks directly to the needs of your target audience.
By using our software, we discovered that damaged/dry hair (40.99%) ranked sixth among the top beauty concerns. This concern is followed by frizzy hair (36.04%) and uneven skin tone (35.49%).
In the free subscription, you’ll be able to view the top beauty concerns ranked from six to 10. In the paid subscription, however, you’ll be able to access all rankings and find the breakdown of these data according to age group. This can be particularly interesting because there could be a stark difference in the beauty concerns of women in different age groups.
In our paid subscription, you’ll also be able to see the full ranking of skincare, makeup, haircare, and bodycare concerns indicated by respondents, which will be useful for market sizing for your products if they address specific beauty concerns.
What influences the purchasing decisions of consumers in Singapore?
To make wise decisions about where to allocate your marketing budgets, it is crucial to understand which platforms and channels are trusted the most by consumers, and our Marketing Intelligence Reporting Software can help you with that.
Are key opinion leaders (KOLs, also known as influencers) still considered a good marketing outreach channel for brands? Do consumers still trust and value KOLs for beauty recommendations? Who are the top beauty KOLs in Singapore in 2023?
And what about word-of-mouth recommendations and product recommendations by experts such as dermatologists? Discover the answers to these questions in our paid subscription.
Request your free or paid subscription access now!
Things to note:
- Students with a valid .edu email address will be able to receive the paid subscription access free for three months
- The free subscription access only allows you to view 31 data instead of all 137
- Our lifetime data subscription is compatible with Tableau and Microsoft Power BI
- Click here to view the differences between free and paid subscription plan