Over the course of the pandemic, diversity and inclusion have become the most important brand value for Gen Z (40 percent) and millennial (31 percent) consumers when shopping for beauty products, according to buy now, pay later (BNPL) platform, Klarna‘s recent survey of 15,000 consumers.
“Klarna’s beauty survey has uncovered new consumer insights and trends that beauty brands should keep in mind as they plan their strategies for the rest of the year,” said David Sykes, Head of US at Klarna. “For example, a key learning is that shoppers across all generations agree that brand values play a significant role in their purchasing decisions when shopping their favorite beauty items.”
One of the other key findings in Klarna’s survey highlights shifts in consumers’ preferences for buying beauty products.
Prior to the pandemic, the majority (67 percent) preferred to shop for beauty products in physical stores — something that significantly shifted online over the past year. Now even with mass vaccinations underway, consumers are not necessarily keen to return to stores right away. The majority of responders revealed that they do not plan to shop for beauty products any differently once vaccinated.
The survey also revealed that the most shopped category within the beauty segment is skincare, followed by haircare (33 percent) as many during lockdowns turned to self-care to occupy their time. Others turned to buying at-home workout equipment (23 percent) and vitamins and supplements (22 percent).
Top wish-listed beauty items on the Klarna app between February and March 2021 were:
- Skincare: Versed On the Rise Firming Serum
- Haircare: Olaplex No. 3 Hair Perfector
- Makeup: Huda Beauty Life Liner Double Ended Eyeliner Liquid & Pencil
- Fragrance: Viktor & Rolf Refillable Flowerbomb Bloom Eau de Parfum
And last but not least, Klarna found that nearly three quarters of consumers across all generations cite paying in installments as the important feature that improves their online shopping experience.