By Mia Kyricos
According to Research and Markets, the global beauty market is projected to reach $461 billion by 2018 and facial care alone represents over 50% of that pie. Quite frankly, that’s a lot of skin. And if you consider research recently conducted by the Global Wellness Institute, the Beauty and Anti-aging segment comprises over $1billion of the $3.4 trillion dollar wellness market, already three times the size of the global pharmaceutical industry (Global Spa & Wellness Economy Monitor, 2014). That means that the business of prevention (wellness) trumps the business of sickness (medical).
Why should you care?
As the beauty industry’s business owners, manufacturers and practitioners, you’re smart enough to know that in today’s world, we now wear our lives on our skin. Gone are the days of just secret potions and lotions (although they still have their place), or the latest trends in cosmetic manufacturing (ex: 3D printing) or the beauty regimens of entire cultures that are today’s front-page news (hello, Korea). It’s just not enough.
Today, understanding beauty is about understanding lifestyle, and even this kind of thinking is evolving at a rapid pace. Sure, we have long-known that diet, exercise, hydration (and genetics) continue to be key factors to whether or not your clients radiate (or imitate) beauty at a cellular level. But again, these factors are not enough. And frankly, they’re just not all that interesting any longer.
Nor are the beauty trends featured in today’s lifestyle magazines and digital blogspots. At least, not to me.
The “science” of wellness is making us reconsider causal relationships including those that we have with ourselves and our skin. How we deal with stress and our emotions, if we lack access to nature and clean air (both indoor and out), are all secrets told by our skin. And THAT, my friends, is what I find so exciting, and so should you. But that’s not all.
Big words like “epigenetics” (which may require help from other big words like “wikipedia”), hold the keys to our beauty future, both personally and professionally. Forward-thinking spas and health resorts like SHA Wellness Clinic in Spain or White Tea Med Spa in New York (and MANY others), are all tapping into the world of DNA, whether via laboratory testing offered to guests while on property, or simply by offering cutting-edge, cosmeceutical lines. And that’s great. Truly.
But what if you could turn back biological clocks or even how your DNA responds to environmental factors that are helping to tell those secrets on your skin? Whoa. And how will that inspire innovation in the products and services you offer today or the relationships you have with your clients tomorrow?
I guess this is my LONG way of saying that we now live in a world that holds much more promise for beauty and skincare than it once did just a few short years ago. Today, the science of wellness is opening doors to innovation, and day spas, salons, clinics and resort spas have everything to gain by walking through them. Think of it as “carte blanche” to get creative or that other big word: OPPORTUNITY.
Mia Kyricos is president and founder of Kyricos & Associates, a boutique advisory firm providing strategic guidance to the wellness and hospitality industries on a global scale. Follow her on twitter @mkyricos.