75% of Singaporeans satisfied with current beauty spending

91% don’t follow trends without thorough beauty product knowledge as prudent Singaporeans seek more holistic benefits.

A recent survey by BeautyAsia 2010, the region’s most-established annual beauty and wellness trade exhibition (Suntec Singapore, 1-3 March 2010) reveals that Singaporeans are happy with their current spending on beauty products and treatments and will not cut back on both beauty and fashion spending. However, their expectation from beauty products certainly goes beyond skin deep and they want products that have more holistic benefits.

With a keen pulse on market trends and Singapore’s sophisticated consumer, exhibitors seem positive about the market recovery and many are bringing in beauty products and treatments with a strong focus on holistic wellness.

Gillian Loh, project manager, Lines Exposition and Management Services Pte Ltd, said, “Marking our 14th BeautyAsia show, we have been through the ups and downs of the economy and have seem the changing trends over the years. We are delighted to see the response from exhibitors this year and are confident that this year’s Beauty Asia 2010 will ring in some excellent results.”

Lines Exposition and Management Services Pte Ltd confirmed that they have expanded the show with an additional 12 per cent of floor space where exhibitors are taking up bigger booth size as compared to the past for better branding and extended product range.

Post-recession beauty product spending

In the survey conducted by BeautyAsia 2010, more than 95 per cent of the respondents spend more than $25 on beauty treatments each month and most of them (53 per cent) spend between $25 and $49. Despite the market recovery, most of them (75 per cent) will not be changing their spending pattern and have no intention to cut back on beauty and fashion spending (78 per cent). Most of the respondents are satisfied with their current spending pattern.

Switching of beauty brands

According to the survey, respondents (91 per cent) do not follow beauty trends without in-depth understanding of the products. They are more inclined to try out different brands of hair care products (42.2 per cent) as compared to facial care products (31.3 per cent), body care products (18.8 per cent) and nail care products (7.8 per cent). One of the respondents reveals that different hair styles will require different types of hair care products and it is inevitable to switch between product brands and range.

Holistic wellness: The new mantra

What may be described as a true trend reflective of the prudent spender, exhibitors have sensed that consumers nowadays expect more from their beauty products and hence are bringing in more “holistic wellness” beauty products and treatments. Many exhibitors will be showcasing the latest beauty technology to distributors and beauty professionals, keeping them abreast with market innovations and international trends within the industry. Exhibitor Mark Yong, the marketing director of Ewins Pte Ltd said, “This is our first year participating in BeautyAsia 2010 and we will be showcasing a new spa technology system to the region, promoting natural and minimum additives spa treatments.”

Besides more wellness treatments, exhibitors are returning to BeautyAsia 2010 with renewed vigour and faith in the industry’s recovery after last year’s slowdown. One of the seasoned BeautyAsia exhibitors’, Christine Tan, the managing partner of Beauty Choice Pte Ltd said, “This year, we will be focusing on building our brand awareness within the region and with the development of Singapore’s Integrated Resorts, I am confident that we will attract more expatriates with strong buying power to spend more on beauty treatments.”

Visitors can look forward to a series of activities at the show, including product demonstrations, workshops and engaging talks by industry experts. The nail industry’s most prestigious international nail art competition, NailsAsia™ Singapore, will be held on Mar. 2, 2010 where Asia’s most talented nail artists and manicurists will compete for the champion title.