Paris — Is consumer fatigue starting to hit the beauty industry?
A new study by Launchmetrics, which provides data research and insights, suggests the answer is yes, with a new study titled “S1 ’22: Business of Beauty — Top 700 Performers.”
This takes into account 741 beauty brands, a total media impact value (MIV) of $12.5 billion, and 3.1 million placements.
“Beauty is seen as an affordable luxury in times of economic uncertainty, but consumer fatigue in this area is a growing concern,” LaunchMetrics said in a study. “Consumer engagement across social media is declining year on year.”
According to Launchmetrics, Instagram and YouTube continue to be juggernauts with increasing reach, but MIV is down year-over-year. Conversely, TikTok has generated her MIV growth for many beauty brands through short-form videos.
Especially in China, the beauty industry relies more on influencers than the fashion industry.
“Outside China, beauty brands account for a significant share of MIV through media and own channels, whereas influencers make up the majority of MIV for brands in the region,” said Launchmetrics.
When it comes to beauty in 2021, the media has lassoed 38% of global MIVs excluding China and 15% of Chinese MIVs. The influencer earned 37% of his MIV worldwide outside of China, compared to 77% in China. The breakdown of owned MIVs was 17% and 4%, respectively.
While social media continues to be the beauty industry’s top channel for driving MIV, Launchmetrics points to overall consumer fatigue.
“Instagram continues to be the number one platform for generating the most MIVs. [with $2.8 billion MIV], the average MIV per placement is much lower compared to newer platforms such as Douyin, Weibo and TikTok,” writes Launchmetrics. “Short-form video platforms — Douyin, TikTok — not only outperform the index in terms of efficiency, but also drive MIV’s strong year-over-year growth.”
TikTok recorded the biggest growth, increasing MIV for beauty brands by 176% over the period.
Launchmetrics said: Longer format videos, generally longer than 10 minutes, perform best on YouTube, and lifestyle videos make up many of the top videos that generate the highest of his MIVs. This included his 9:44 video for Thugesh, where he earned $816,000 at MIV, and his 15:55 video for Architectural Digest, where he earned $706,000 at MIV. rice field.
Conversely, the best-performing videos on TikTok are generally less than a minute long and feature celebrities, influencers, or entertainment content.
“Three of the top five TikTok videos with the highest MIV were published with celebrity handles,” writes Launchmetrics. was there.”
A 20-second video by Kylie Jenner made $2.4 million at MIV, and Twenty4Tim’s 58-second spot earned $2.2 million at MIV.
The total MIVs created by YouTube decreased by 21% between July 2021 and June 2022 compared to the period between July 2020 and June 2021.
While star influencers resonate most on Chinese social platforms, Launchmetrics says the key to success on Western platforms is a diverse set of key opinion leaders.
In the first half of 2022, influencers generated over $5.6 billion in MIV, making them the most effective voices in the beauty industry.
“But when it comes to influencers, there is no one-size-fits-all solution,” writes Launchmetrics. “We are also seeing a shift in consumer perceptions of influencers, especially when it comes to celebrities.”
Micro, mid-tier, mega and star influencers are popular to varying degrees, according to social media platforms. It has the highest share of MIV on Chinese social media platforms such as Weibo and WeChat compared to and mega influencers.
Despite the numerous celebrity beauty brand launches over the past two years, Launchmetrics has found that consumer skepticism is at an all-time high. 67% of consumers say they have “low” trust when it comes to celebrity influencers, especially when it comes to health and beauty products.
Consumer engagement reflects this, with celebrity beauty brands, on average, seeing year-over-year declines in MIV stats.
But bucking that trend is star influencer beauty brand Kylie Cosmetics. It came in 18th place in Launchmetrics’ report, generating more than $121 million in MIV, representing a 39% year-over-year growth.
Dior was the top 10 brand in the first half of 2022, with $388 million, thanks to Jisoo Kim, according to MIV. L’Oréal Paris is the only mass market brand with $360 million in sales. Lancôme, $337 million. MAC Cosmetics $274 million. Estee Lauder, $260 million. Chanel, $243 million. Nars, $199 million. $194 million Charlotte Tilbury. Fenty Beauty is his $183 million and YSL Beauté is his $174 million.
The top five beauty brands with the highest year-over-year MIV growth are: Escada climbs to $929,000 on 114. Montblanc increased 112% to $6.7 million. Amorepacific increased 106% to $48 million and Coach increased 88% to $3.5 million.
