IMRG Fashion and Beauty Connect Review
The Pixel was thrilled to attend the IMRG Beauty and Fashion Connect event on Wednesday 12th February as a Gold Sponsor. With over 23 years of experience helping retail brands grow, we’ve always been passionate about staying ahead of industry trends and supporting the retail community. Partnering with IMRG for the year ahead as a Gold Sponsor was a natural choice for us. We know that data-driven insights are the key to success in today’s fast-moving retail landscape, and this event provided an excellent opportunity to engage with brands, share knowledge, and exchange ideas on what’s driving success in fashion and beauty retail right now.
On the day, our team had some fantastic conversations with retailers and gained valuable insights from the IMRG team. Here are some of the key takeaways:
Key Data Insights from the Day:
Health & Beauty Booming, Clothing Facing Challenges
For 2024, IMRG forecasted a 7% YoY revenue uplift for the Health & Beauty sector, but the actual results exceeded expectations with an impressive 17.8% YoY growth. Meanwhile, the Clothing sector faced tougher conditions, with a -3.8% downturn, slightly more than the predicted -2% decline.
Menswear Falling Behind Womenswear
Breaking it down further, Menswear saw a -7.4% annual revenue downturn, while Womenswear fared slightly better with a -4.9% decline.
Footwear is Stepping Up!
One bright spot in the clothing category was Footwear, which saw a 7.6% YoY revenue growth—a positive sign that consumers are still investing in their shoe collections.
Beauty Sector Growth is Looking Radiant
The Beauty sector continues to shine, with Haircare seeing 18.7% annual revenue growth, Makeup growing by 12.2%, and Skincare delivering 13.6% growth.
Fragrance Leads the Way in 2024
The standout category of the year was Fragrance, with a 30% YoY revenue increase—the strongest across all categories tracked. Not only did sales increase, but conversion rates also improved significantly, reaching 3.47% in H2 2024, up from 3.04% in H2 2023.
Conversion Trends: Clothing Down, Beauty Up
Across the market, the total conversion rate for H2 2024 was 3.46%, up from 3.34% in H2 2023. However, Clothing struggled, with conversion rates slipping from 2.94% in H2 2023 to 2.87% in H2 2024. In contrast, Beauty saw a strong uplift, reaching 4.30% in H2 2024, up from 3.77% the previous year.
Valentine’s Day Boost for Beauty Sales
In the week leading up to Valentine's Day, the Beauty sector saw a significant spike in customer intent, with the average ‘add to bag’ rate jumping from 18% to 26%. Love was definitely in the air for beauty purchases!
Key Takeaways from the Event – Insights from Aynsley Peet
With so much data to absorb and so many great discussions taking place, Aynsley Peet shared his key insights from the event:
- Retailers are becoming more data-driven than ever. Brands are leveraging technology and analytics to gain deeper insights into customer buying behaviour and intent.
- Data is a crucial driver for digital transformation. Many retailers are using these insights to secure board-level sign-off on major digital initiatives.
- Loyalty strategies are a big focus. Retailers are actively testing and refining new loyalty programmes to keep customers engaged and coming back.
- Personalisation is front and centre. One retailer revealed they had over 17,000 variations of their homepage—a testament to the growing demand for tailored shopping experiences. However, there’s a fine balance to strike, as over-personalisation can feel intrusive.
- Email marketing is still proving effective. Despite the rise of highly targeted campaigns, some retailers are still seeing strong results from mass email strategies like ‘Batch and Blast’ or ‘Spray and Prey’ campaigns.
The IMRG Beauty and Fashion Connect event was a fantastic opportunity to engage with retailers and gain fresh insights into what’s shaping the industry. The Pixel is looking forward to supporting retailers with the data, strategies, and digital expertise they need to thrive in an ever-changing market.
