Social Bella 2024: Encourage Innovation And Strategic Transformation Of The Indonesian Beauty Industry

Innovation And Strategic Transformation Of The Indonesian Beauty Industry (Ist)

JAKARTA - Throughout 2024, Social Bella, the leading company based on integrated technology in Indonesia, launched various strategic initiatives to encourage the advancement of the Indonesian beauty industry. With a main focus on consumer education and support for local brands, Social Bella presents innovative technology-based solutions that strengthen the beauty ecosystem in Indonesia.

Transformation Year: Affirm Contribution To Indonesia's Beauty Industry

Social Bella co-Founder & CEO Christopher Madim, cited 2024 as a transformative period. We understand that users are getting smarter and more aware of security and quality, so education on the latest developments and trends in the beauty world is one of the main initiatives in 2024. Over the past 9 years, Social Bella has also continued to support the growth momentum of sustainable local brands, by providing greater opportunities for their businesses in our ecosystem," Christopher explained.

Social Bella's Strategic Achievement In 2024

Insight Factory Launch by SOCO

Social Bella launched Insight Factory by SOCO, a new line of business that provides strategic data for beauty industry players. Through the big data of more than 6 million SOCO members processed by a reliable research team, Insight Factory by SOCO not only provides current trend data, but also supports brands, especially local brands, in formulating more adaptive and relevant business strategies.

Sociolla Beauty Wonderland (SBW) 2024

As the flagship annual event since 2019, Sociolla Beauty Wonderland (SBW) was back last November. Synergizing with the Food and Drug Supervisory Agency (BPOM), represented by the presence of Taruna Ikrar, the Head of BPOM RI to discuss together and provide education on the importance of choosing beauty products that are safe, genuine, and certified at the 2024 SBW. This initiative strengthens Sociolla's commitment as a trusted retail omnichannel in the midst of the rampant circulation of illegal and fake products.

Local brand growth

Insight Factory by SOCO noted a significant increase in local brands that are now able to compete in the global market. With a growing market share, the composition of local brands is also growing. Compared to 2015 when Sociolla first appeared, local brands experienced growth of up to 49% to date, with compositions almost equivalent to the number of foreign brands. In line with these findings, data also highlighted the growth of perfume categories in Sociolla, local perfumes continued to attract high attention from beauty enthusiasts throughout the year with 3x folding growth since this category was first presented in 2015. This reflects consumer confidence in innovative and high quality local products.

Solid Beauty Community

The trend of beauty is increasingly focused on solid community formation in Indonesia. Through the personalization and active community features in the SOCO application, 6 million SOCO members can share reviews, tips, and recommendations, creating a more interactive and in-depth shopping experience. This creates a shopping experience that is not only seamless, but also builds deeper relationships with its users.

Trends And Insights Of The 2024 Beauty Industry

Smarter Consumers

"Beauty Consumer Behavior and Trend Report" from Insight Factory by SOCO found a significant increase in Indonesian consumer literacy in shopping for beauty products. In the report, it was found that both Millennials and Gen Z enjoyed more integration of the online-offline experience, thus encouraging the strengthening of the omnichannel shopping trend. In Sociolla, omni-shopping scored revenue twice as much compared to offline or online shopping alone. The trend of beauty is increasingly inclined towards high innovations such as hybrid makeup products. The trend of Scinification'' is also increasingly in demand, encouraging significant growth in the category of body and hair care products.

Gen Z leads significantly in product sales growth trending compared to Millennials. In the body care category, body sunscreen purchases by Gen Z grew by 175% compared to 106% in Millennials. In the fragrance category, purchases of perfume by Gen Z increased by 304% compared to 160% in Millennials. While in the makeup category, the purchase of cushions by Gen Z increased by 105%, while Millennials by 59%.

Selective Consumers Choose Material Content In Products

In its latest findings, Insight Factory by SOCO found that beauty enthusiast is now increasingly selective and focuses on the content of ingredients in beauty products, with increased searches related to ingredient up to 49%. Insight Factory by SOCO classifies the ingredients into four main categories, namely; Already widely known popular materials (such as vitamin C and hyaluronic acid), materials with high demand (such as retinol and centella), emerging materials (such as probiotic/biome, retinal, and peptide), as well as new ingredients that are starting to attract consumer attention. With the ease of access to digital information such as SOCO applications, beauty enthusiast can now easily dig up information on active materials that suit their skin needs, understand the effects, as well as the risks of each material.