Jun 01, 2017
IBHA successfully hosted its second signature conference themed “Redefining Beauty: The Changing Indian Scenario’ at Mumbai on June 2017. The highlight of the event was the launch of an IBHA knowledge report ‘Demystifying the future of Beauty and Personal Care’ by Chief Guest and IBHA founding member, Mr. Adi Godrej along with leading members from the industry.
The report, which was launched in association with AT Kearney and AC Nielson, discovered 8 key consumer trends, along 4 broad dimensions:
- Who is consuming
- What is being consumed
- Why is it being consumed
- Where and how it is being consumed
Included in the agenda were three panel discussions which collectively captivated the attendees’ attention. Speakers discussed the changing face of the BPC industry and defined trends and imperatives for tomorrow. The first panel discussion, themed ‘Beauty knows no bounds’ had experts from Godrej Consumer Product Ltd., Hindustan Unilever, Wipro, L’Oréal, Himalaya and AT Kearney discuss about the market being predominantly urban centric today; however going forward, how rural markets will drive growth.
The proceeding discussion brought to light interesting understandings on new age marketing, emphasizing the shift in messaging from product qualities to product experiences and how peer-to- peer models are gaining traction.
The third and the last panel shared deep insights into the future of beauty products. It was almost a unanimous view held by all the panellists that the market for colour cosmetics, men’s grooming range, and bridal care products have tremendous growth potential.