Ecommerce has pushed retailers to adapt

E-commerce has had a tremendous impact on how people shop, forcing retailers to fundamentally alter their strategies to survive. It was the top technology theme driving venture financing activity in the global health and beauty market in 2021, accounting for 10% of deals recorded, and its influence will only grow over the coming years. GlobalData estimates that the global e-commerce market will grow from $178 billion in 2020 to $509 billion in 2025. As online engagement with consumers evolves, through channels such as social media and the metaverse, e-commerce solutions have diversified into sub-channels that include social media commerce, quick commerce, and direct-to-consumer.

Health and beauty brands that understand the changing online shopping behaviours of consumers and quickly adapt are more likely to excel. In 2021, the e-commerce theme was a driver in venture financing rounds for 31 health and beauty companies globally, including Beauty Pie’s $100 million Series B funding round, ClueMetic’s undisclosed seed funding round, and Pangaea Holdings’ $68 million Series B funding round. The e-commerce theme has continued to drive financing rounds into 2022, including Dinette’s $6.5 million Series B funding round, and Visage Lines Personal Care’s $21.5 million Series C funding round.

IoT drove seven venture financing deals in the global health and beauty market in 2021

IoT is an umbrella term referring to the ability of everyday physical objects to connect with other devices over the internet, enabling them to send and receive data. IoT was the second leading technology theme driving venture financing rounds in the global health and beauty market in 2021. Common examples of IoT in this industry include Point of Sale (PoS) devices, virtual try-on mirrors, and radio-frequency identification (RFID) tags. However, in the future, we can expect a growth in retailers using IoT technologies for other purposes, such as in ambient commerce (also known as checkout-free retail), and product personalization.

From driving one venture financing deal in 2016, IoT drove seven in 2021. For example, Chiaro Technology, the parent company of women’s health technology brand Elvie, raised $17.6 million in its Series C funding round; Preemadonna, maker of the robotic Nailbot, raised $5.6 million in seed funding; and Odore, digital product sampling platform, raised $0.8 million in seed funding.

Big data, AI, telehealth, VR, and AR technologies are growing forces

Although driving fewer venture financing deals in the industry over the past few years, technologies such as big data, artificial intelligence (AI), telehealth, virtual reality (VR) and augmented reality (AR) will grow in importance as health and beauty brands look to leverage technologies that will improve operational efficiency, consumer engagement online and instore, supply chain management, and revenues.

For example, in 2021, Perfect Corp, (a provider of virtual try-on solutions leveraging AR and AI technologies) raised $50 million in its Series C funding round and announced plans in March 2022 to go public via a merger with a blank-cheque company, Provident Acquisition Corp. Meanwhile, German telehealth skincare pioneer, Formel Skin, raised $33.7 million in its Series A funding round. Precision skincare brand, Revea (Compass Beauty), uses big data and precision medicine to create identify personalized treatments and raised $3.5 million in seed funding.

Moving into 2022, AI and big data are already driving further venture financing deals, including an initial $2.5 million investment in South Korea-based Lululab, a beauty brand that uses AI, by SK Shields. Meanwhile, Brazilian-based haircare brand Revo Technologia e Beleza (JustForYou), which uses AI technologies for personalization, secured an undisclosed amount in venture funding from Eurofarma.

As disruptive technologies develop—particularly as a result of greater investment from Big Tech, growing interest in themes such as the metaverse, and changing global environments due to crises such as the Covid-19 pandemic—brands exploring and deploying these technologies will generate higher value in funding rounds.

The post The tech themes driving venture financing in the health and beauty industry appeared first on Verdict Cosmetics.

Nature of Disruption: 365mesh’s IoT PaaS secures the whole IoT stack, including sensors, networks, data ingestion engines, and user apps. The platform supports all the following connectivity options such as 3G, 4G, 5G, Narrowband-IoT and IP (Internet Protocol), based technologies such as Wi-Fi, LAN (local area network), and WAN (wide area network). It also enables connectivity through RFID (Radio Frequency Identification), Bluetooth, LoRaWAN, and satellite. 365mesh allows local site caching within each country, despite the platform’s global availability. This means that the information is kept inside the country where it was gathered.

Outlook: When businesses embark on their IoT adoption journey, they quickly discover that a robust IoT solution requires numerous building components. Some companies just offer one or two components of this solution, such as standalone sensors or an app with data processing capabilities. 365mesh addresses this issue by offering an all-in-one solution. It provides connectivity solutions to address industry-specific connectivity challenges. 365mesh sensors and connectivity options, for example, provide underground, air, and underwater solutions. These can enable access to business environments that would otherwise be difficult to access. 365mesh can be installed in Australia by Outcomex or white-labeled by industry partners until mid-2022, after which it plans to launch globally, with target territories including New Zealand, Europe, North America, and Africa. With the TransportDeck IoT solution, Outcomex, the parent company of the 365mesh platform, has won the Cisco Global Partner Innovation Challenge for 2021. It intends to use the prize money to further develop the 365mesh platform and TransportDeck solution.

This article was originally published in Verdict.co.uk

The post 365mesh Introduces IoT Platform as a Service appeared first on Verdict Cosmetics.

Makeup

Sensory trends have resurfaced in the makeup category following the pandemic. With the ease of pandemic restrictions around the world, many people are looking to splash out on their appearance and look for products that match their personality and interests. Brands are launching tailored products to attend to all needs in the market. GlobalData’s Q2-2021 consumer survey reveals that 23% of global consumers will try new ingredients in beauty products due to curiosity, with this experimental nature rising among younger cohorts.

wet n wild’s new Mega Jelly eyeshadow, launched in the UK, aligns with this demand for experimental products; the eyeshadow features a high pearl suspension and gives an automatic ‘wet look’, which has been popularised by beauty influencers. Moreover, the product is suitable for vegans and infused with cucumber and chamomile Herbasol extract that provide extra nourishing properties, adding a layer of personalization and functionality for health-minded consumers.

Skincare

The skincare category is largely defined by added functionality, better-for-you claims and personalisation that meet and improve specific skin concerns.  Anti-acne is the most demanded claim within skincare products. GlobalData’s Q3 2021 consumer survey reflects that 66% of global consumers found an anti-acne claim to be somewhat or very appealing in skincare products.  The US-based brand, Miss Spa, has released a Chin Hero – a v-line chin patch with anti-inflammatory properties to help avoid breakouts. The product comprises tea tree oil and witch hazel in the formula, which will appeal to knowledgeable consumers who are seeking formulation for a specific concern that can improve their appearance.

Consumers also expect several functionalities in a single skincare product, as this not only saves time and money but adds premium value. Manufacturers are including in their formulations several ingredients to target consumers with a busy lifestyle who need a product that not only helps to save time but also improves the skin concern without the need of buying more products.

Haircare

Sustainability and environmentalism are defining the FMCG landscape as consumers grow more aware of their impact on the environment. As a result, many are searching for environmentally friendly haircare products, particularly given the substantial use of plastic in this category. GlobalData’s research (Q3-2021) suggests that 64% of global consumers agreed that plastic-free packaging is quite if not extremely important to them. Therefore, products like the UKs Aussie Nourishing Hug shampoo bar, which contains 98% of natural origin ingredients and claims to reduce the use of plastic bottles, are a great example of how to provide a haircare product that caters to environmentally conscious consumers.

The interest in natural ingredients in haircare products is also spiking. As a result, brands are including products that claim to use natural ingredients in their formulations to be seen as more appealing.

The post Beauty brands should build a unique presence via personalised and targeted offerings appeared first on Verdict Cosmetics.

Analysis of the poll responses recorded in September shows that optimism regarding future growth prospects increased by four percentage points to 63% from 59% in August.

The respondents who were optimistic remained unchanged at 23% in September, while those very optimistic increased by four percentage points to 40%.

The respondents who were pessimistic decreased by one percentage point to 9%, whereas those who were very pessimistic increased by one percentage point to 15%, from 14% in August.

The percentage of respondents who were neutral (neither optimistic nor pessimistic) decreased by four percentage points to 13%.

The analysis is based on 1,176 responses received from the readers of Verdict network sites between 01 September and 30 September 2021.

Easing of restrictions and improving employment prospects boost business confidence

Overall business confidence in the UK in the first half of September increased by ten points to 46% in September, which is the highest recorded since April 2017, according to Lloyds Bank Business Barometer survey. The increase in confidence was mainly due to improvement in employment prospects and sentiment across various sectors including manufacturing and services.

The survey was, however, conducted before the start of fuel price and supply chain issues that caused disruptions across the manufacturing, construction, and retail sectors.

Business confidence in the European Union (EU) and Euro zone remained stable in September, according to the European Commission’s economic sentiment index (ESI). The ESI remained unchanged at 117.8 in September compared to 117.5 in August and in the EU at 116.6 in September compared to 116.5 in August.

The ESI for the industry sector (industry confidence) also remained unchanged at 12.1 in the EU, while retail trade confidence declined drastically by 54.9%. The financial services confidence also declined by 6.6% and services confidence declined by 8.3%. Consumer confidence, however, improved by 17.4%, while construction confidence increased by 48.6% month-on-month.

Consumer sentiment index in the US too improved from 70.3 in August to 72.8 in September although optimism remains depressed due to the persistent increase in COVID cases due to the Delta variant and rising inflation rate.

The post Business optimism improves in September: Poll appeared first on Verdict Cosmetics.

Analysis of the poll responses recorded in September shows that optimism regarding future growth prospects increased by four percentage points to 63% from 59% in August.

The respondents who were optimistic remained unchanged at 23% in September, while those very optimistic increased by four percentage points to 40%.

The respondents who were pessimistic decreased by one percentage point to 9%, whereas those who were very pessimistic increased by one percentage point to 15%, from 14% in August.

The percentage of respondents who were neutral (neither optimistic nor pessimistic) decreased by four percentage points to 13%.

The analysis is based on 1,176 responses received from the readers of Verdict network sites between 01 September and 30 September 2021.

Easing of restrictions and improving employment prospects boost business confidence

Overall business confidence in the UK in the first half of September increased by ten points to 46% in September, which is the highest recorded since April 2017, according to Lloyds Bank Business Barometer survey. The increase in confidence was mainly due to improvement in employment prospects and sentiment across various sectors including manufacturing and services.

The survey was, however, conducted before the start of fuel price and supply chain issues that caused disruptions across the manufacturing, construction, and retail sectors.

Business confidence in the European Union (EU) and Euro zone remained stable in September, according to the European Commission’s economic sentiment index (ESI). The ESI remained unchanged at 117.8 in September compared to 117.5 in August and in the EU at 116.6 in September compared to 116.5 in August.

The ESI for the industry sector (industry confidence) also remained unchanged at 12.1 in the EU, while retail trade confidence declined drastically by 54.9%. The financial services confidence also declined by 6.6% and services confidence declined by 8.3%. Consumer confidence, however, improved by 17.4%, while construction confidence increased by 48.6% month-on-month.

Consumer sentiment index in the US too improved from 70.3 in August to 72.8 in September although optimism remains depressed due to the persistent increase in COVID cases due to the Delta variant and rising inflation rate.

The post Business optimism improves in September: Poll appeared first on Verdict Cosmetics.

Analysis of the poll responses recorded in September shows that optimism regarding future growth prospects increased by four percentage points to 63% from 59% in August.

The respondents who were optimistic remained unchanged at 23% in September, while those very optimistic increased by four percentage points to 40%.

The respondents who were pessimistic decreased by one percentage point to 9%, whereas those who were very pessimistic increased by one percentage point to 15%, from 14% in August.

The percentage of respondents who were neutral (neither optimistic nor pessimistic) decreased by four percentage points to 13%.

The analysis is based on 1,176 responses received from the readers of Verdict network sites between 01 September and 30 September 2021.

Easing of restrictions and improving employment prospects boost business confidence

Overall business confidence in the UK in the first half of September increased by ten points to 46% in September, which is the highest recorded since April 2017, according to Lloyds Bank Business Barometer survey. The increase in confidence was mainly due to improvement in employment prospects and sentiment across various sectors including manufacturing and services.

The survey was, however, conducted before the start of fuel price and supply chain issues that caused disruptions across the manufacturing, construction, and retail sectors.

Business confidence in the European Union (EU) and Euro zone remained stable in September, according to the European Commission’s economic sentiment index (ESI). The ESI remained unchanged at 117.8 in September compared to 117.5 in August and in the EU at 116.6 in September compared to 116.5 in August.

The ESI for the industry sector (industry confidence) also remained unchanged at 12.1 in the EU, while retail trade confidence declined drastically by 54.9%. The financial services confidence also declined by 6.6% and services confidence declined by 8.3%. Consumer confidence, however, improved by 17.4%, while construction confidence increased by 48.6% month-on-month.

Consumer sentiment index in the US too improved from 70.3 in August to 72.8 in September although optimism remains depressed due to the persistent increase in COVID cases due to the Delta variant and rising inflation rate.

The post Business optimism improves in September: Poll appeared first on Verdict Cosmetics.

Analysis of the poll responses recorded in August shows that optimism regarding future growth prospects decreased by three percentage points to 59% from 61% in July, reversing the improvement made in the preceding two months. The rise in cases related to the Delta variant and inflation concerns negatively impacted optimism during the month.

The respondents who were optimistic decreased by two percentage points to 23% in August, while those very optimistic remained unchanged at 36%.

The respondents who were pessimistic decreased by one percentage point to 10%, while those who were very pessimistic increased by one percentage point to 14%, from 13% in July.

The percentage of respondents who were neutral (neither optimistic nor pessimistic) increased by two percentage points to 17%.

The analysis is based on 1,197 responses received from the readers of Verdict network sites between 01 August and 31 August 2021.

Delta variant and inflation concerns rise in August

The Delta variant of the coronavirus was responsible for a steady increase in COVID cases in the US during August impacting business confidence during the month. Daily average of new COVID cases reached approximately 150,000 by the end of August, which is more than a ten-fold increase from 14,000 cases recorded on 01 July, according to the US Centers for Disease Control and Prevention (CDC).

Consumer confidence declined to 113.8, to the lowest recorded since February 2021, according to the Conference Board Consumer Confidence Index^®. The percentage of consumers who anticipate business conditions to improve declined from 30.9% in July to 22.9% in August. Furthermore, 17.8% of consumers anticipate business conditions to worsen, as against 11.9% in July.

The rising fuel and food prices also negatively impacted consumers’ views on the existing economic conditions. The Expectations Index that assesses consumers’ short-term expectations for the income, business, and labour markets declined to 91.4 in August from 103.8 in July.

Similar trends were recorded across the European Union (EU) and Euro zone with the European Commission’s economic sentiment index (ESI) declining to 117.5 in August from a high of 119 in July in the Euro area and to 116.5 from 118 in the EU. The economic sentiment indicator (ESI) for the industry sector (industry confidence) declined by 4.7% month-on-month in the EU, while services confidence declined by 11.1%, consumer confidence declined by 12.5% and financial services confidence declined by 15.83%. While retail trade confidence declined marginally compared to July, construction confidence increased by 48% month-on-month reaching the highest in the last 12 months.

The post Business optimism declines in August amid concerns over Delta variant: Poll appeared first on Verdict Cosmetics.

Analysis of the poll responses recorded in July shows that optimism regarding future growth prospects increased to 61% from 60% in June marking the second straight month of improvement in business optimism. Easing of COVID restrictions and increase in the rate of vaccination had led to improvement in business optimism in June.

The respondents who were optimistic increased by two percentage points to 25% in July, while those very optimistic decreased by one percentage point to 36%.

The respondents who were pessimistic increased by one percentage point to 11%, while those who were very pessimistic declined by two percentage points to 13%, from 15% in June.

The percentage of respondents who were neutral (neither optimistic nor pessimistic) remained unchanged at 15%.

The analysis is based on 1,697 responses received from the readers of Verdict network sites between 01 July and 31 July 2021.

Increase in consumer expenditure and hiring boost optimism

Optimism among small businesses in the US increased for the first time since January this year, according to the National Federation of Independent Business report. The optimism increased from 103.6 in June to 105.2 in July owing to improved economic outlook, strong consumer demand, and solid hiring activity.

Consume confidence in the US improved from 128.9 in June to 129.1 in July and was the highest recorded since February 2020, according to the Conference Board’s Consumer Confidence Survey^®. Consumer optimism continued to increase as a large percentage of consumers plan to increase expenditure and purchase homes and major appliances.

Similar improvement in business confidence was witnessed in Italy and Brazil. The business confidence index increased from 112.8 in June to 116.3 in July, according to the Italian National Institute of Statistics’ (Istat) Economic Sentiment Indicator. Consumer confidence index also improved from 115.1 in June to 116.6 in July.

Brazil’s Business Confidence Index (BCI) reached an eight-year high in July to 101.9, an increase of 3.1 points compared to the previous month, according to Getulio Vargas Foundation (FGV), an economic think tank. The increase was registered in four major sectors including commerce, construction, industry, and services.

Business confidence in four regions of the UK including East Midlands (seven point increase to 38%), the North East (13 point increase to 40%), North West (nine point increase to 38%), and West Midlands (one point increase to 30%) increased, although the overall business confidence index in the country declined owing to delay in easing of COVID restrictions, according to the Business Barometer from Lloyds Bank Commercial Banking.

The post Business optimism improves for the second straight month in July: Poll appeared first on Verdict Cosmetics.

Analysis of the poll responses recorded in June shows that optimism regarding future growth prospects improved to 60% from 59% in May.

The respondents who were optimistic increased by two percentage points to 23% in June, while those very optimistic decreased by one percentage point to 37%.

The respondents who were pessimistic remained unchanged at 10% in June, while those who were very pessimistic decreased to 15% in June from 16% in May.

The percentage of respondents who were neutral (neither optimistic nor pessimistic) remained unchanged at 15%.

The analysis is based on 1,928 responses received from the readers of Verdict network sites between 01 June and 30 June 2021.

Easing of COVID restrictions and vaccination drive optimism

Business optimism across the US and Europe improved to positive territory as restrictions were lifted, and rate of vaccinations increased. The Conference Board’s monthly consumer confidence index in the US, for example, increased to 127.3 from 120 in May and is the highest recorded since the onset of the pandemic. The Present Situation index that evaluates consumers’ assessment of current business and labour market conditions also increased to 157.7 from 148.7.

Optimism among businesses in Canada also improved to near pre-pandemic levels, according to a survey by the Bank of Canada. Majority of the firms expect sales to return to pre-pandemic levels except for those in high contact sectors such as restaurants. Further, the Canadian Federation of Independent Business’ Business Barometer^® index for small businesses over the short and long-term improved by four points to 70.1 compared to May. The improvement was attributed to easing of restrictions, vaccine rollouts and lower hospitalisation rates.

Business confidence surged to highest levels since 2016 in the UK as coronavirus restrictions were lifted. The Recruitment & Employment Confederation’s measure of business confidence increased by 21 percentage points to +11, moving into the positive territory for the first time in three years. Labour shortage, however, is threatening to impact the projected recovery of the economy. A survey by the Institute of Directors (IoD), a body for business leaders, showed that optimism among business leaders nearly doubled compared to Q1.

Similar improvements were witnessed in Germany where business confidence increased to 101.8 in June from 99.2 in May, which is the highest since November 2018. Singapore’s purchasing managers’ index (PMI) in June also increased by 0.1 point to 50.8 compared to the previous month, according to the Singapore Institute of Purchasing & Materials Management (SIPMM).

The post Business optimism improves marginally in June: Poll appeared first on Verdict Cosmetics.

Analysis of the poll responses recorded in May shows that optimism regarding future growth prospects dipped marginally to 59% from 60% in April.

While the percentage of respondents who were optimistic decreased by two percentage points to 21% in May, the very optimistic percentage increased by one percentage point to 38%.

The respondents who were pessimistic remained unchanged at 10% in May, while those who were very pessimistic increased to 16% in May, from 14% in April.

Further, the percentage of respondents who were neutral (neither optimistic nor pessimistic) decreased by one percentage point to 15%, against 16% in April.

The analysis is based on 2,666 responses received from the readers of Verdict network sites between 01 May and 31 May 2021.

Economic recovery to remain uneven

While business sentiment improved strongly in the US, China, and Europe, it declined in the rest of Asia. The Purchasing Managers’ Index (PMI) for Japan measured by the au Jibun Bank Japan Services, for example, declined by three points to 46.5 as lockdown measures implemented amid resurgence of COVID continued to impact demand.

The Federation of Indian Chambers of Commerce & Industry’s latest survey on the overall business confidence index in India plunged by 51.5 in May compared to 74.2 recorded in February due to the surge in COVID-19 infections in the country. The Organisation for Economic Co-operation and Development (OECD) reduced India’s growth forecast to 9.9% in May from 12.6% estimated in March. The second wave of coronavirus impacted a larger proportion of the Indian population and adequate measures including vaccination will be needed to revive demand in the country.

Thailand, Myanmar, Cambodia, Vietnam, and Laos also experienced COVID-19 resurgence forcing economic forecasts for the countries to be downgraded. The Economic Intelligence Center of the Siam Commercial Bank Public Company downgraded Thailand’s growth forecast from 2% to 1.9%, Cambodia’s from 6%-7% to 3%, and Laos’ from 5%-7% to 3.5%.

The growth projections for the US, UK, and Euro area, however, were revised upwards by the OECD to 6.9%, 7.2% and 4.3% as vaccination coupled with fiscal and monetary support helped these economies to bounce back. The risk of new outbreaks, however, looms as long as a major proportion of the global population remains unvaccinated leading to uneven global recovery, says the OECD.

The post Business optimism declines marginally in May: Poll appeared first on Verdict Cosmetics.