The COVID-19 pandemic marked a change of pace in e-commerce personalization. According to a global study, in 2017, ** percent of consumers stated they would become repeat buyers after a personalized digital shopping experience. After the global e-commerce surge in 2021, the figure declined but remained higher than pre-pandemic levels. As of 2023, ** percent of surveyed consumers were driven to purchase again from a retailer providing online personalization. Regional variations in personalization preferences The demand for personalized online shopping experiences varies across countries. In the United States, nearly half of consumers desire personalized service when buying online, leading a ranking of 17 countries. Spain and Australia follow closely, with ** percent of respondents expressing similar preferences. Another survey showed that Portuguese consumers show the highest appetite for personalized product recommendations, with over ** percent desiring such features. Data privacy concerns While personalization is increasingly valued, concerns about data privacy persist, particularly among older consumers. A 2024 survey revealed that ** percent of U.S. consumers aged 55 to 59 are the least likely to share personal data with AI technologies for shopping purposes. In contrast, only ** percent of shoppers aged 18 to 24 express such reservations. This generational divide extends to AI-driven personalization, with ** percent of Baby Boomers globally rejecting AI personalization in their customer journey, compared to just ** percent of Gen Z shoppers.

The online cosmetics industry is experiencing robust growth, projected to reach a market size of $14.96 billion in 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 8.47% from 2019 to 2033. This expansion is fueled by several key drivers. The increasing penetration of e-commerce and the rising adoption of smartphones and internet access globally have significantly broadened the market reach. Furthermore, the convenience offered by online shopping, including wider product selection, competitive pricing, and personalized recommendations, strongly appeals to consumers. The industry is also witnessing a surge in the popularity of beauty influencers and online tutorials, driving brand awareness and product discovery. Segmentation within the market shows strong growth across all product types (facial, eye, lip, and nail cosmetics), with premium segments experiencing particularly rapid growth due to increasing disposable incomes and a desire for high-quality products. Different distribution channels like company websites and retail websites cater to varied consumer preferences and shopping habits, further contributing to market expansion. Key players such as L'Oréal, Shiseido, Estée Lauder, and others are leveraging digital marketing strategies and innovative product offerings to maintain a competitive edge. The geographic distribution reflects a significant presence in North America and Europe, with the Asia-Pacific region exhibiting high growth potential due to its expanding middle class and increasing online shopping adoption. Looking ahead, the online cosmetics market is poised for continued expansion, driven by ongoing technological advancements, the rise of personalized beauty experiences, and the increasing integration of augmented reality (AR) and virtual reality (VR) technologies in online shopping. The focus on sustainability and ethical sourcing within the beauty industry is also influencing consumer choices, creating opportunities for brands committed to these values. However, challenges remain, including concerns regarding counterfeit products, data privacy issues, and the need for effective and secure online payment systems. Nevertheless, the overall outlook for the online cosmetics industry remains optimistic, with substantial growth potential across diverse segments and geographical regions. The market is expected to witness significant shifts in consumer behavior and technological advancements, requiring companies to adapt and innovate to maintain their market share and meet evolving consumer expectations. Recent developments include: December 2022: Kao Corporation launched a cosmetic brand named UNLICS for Gen-Z men. The brand offers its products on the official UNLICS online retail site., October 2022: Este Lauder launched its new lipstick collection named Bloom Pure Color Envy Lipstick. The company claims that these products are limited editions and available in three different sizes., May 2022: L'Oréal Paris launched the Air Volume Mega Mascara. The brand claims it is a light, waterproof product with a cushiony brush that helps collect and coat each lash.. Notable trends are: Growing Inclination Towards Natural/Organic Products.

The virtual fitting solutions market is experiencing robust growth, driven by the increasing adoption of e-commerce and the rising demand for personalized shopping experiences. This market is projected to reach a value of $2.5 billion by 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 25% from 2025 to 2033. This significant expansion is fueled by several key factors. Firstly, advancements in 3D body scanning technology and augmented reality (AR) / virtual reality (VR) capabilities are creating increasingly realistic and immersive virtual fitting experiences. Consumers, particularly millennials and Gen Z, are embracing these technologies, demanding more accurate representations of how clothing will fit before purchase, thereby reducing returns and improving customer satisfaction. Secondly, the expansion of e-commerce, especially in the apparel, beauty, and eyewear sectors, is a crucial driver. Online retailers are increasingly integrating virtual fitting solutions to enhance their online shopping experience and compete effectively with brick-and-mortar stores. Furthermore, the growing adoption of mobile devices and the widespread availability of high-speed internet are facilitating wider access to these solutions. The market segmentation shows a strong demand across all application areas, with apparel currently holding the largest market share, followed by footwear and beauty & hair care. However, challenges remain. The high initial investment required for implementing virtual fitting technologies can be a barrier for smaller businesses. Additionally, concerns about data privacy and security surrounding the collection and use of 3D body scans need to be addressed to ensure consumer trust. Despite these hurdles, the overall outlook for the virtual fitting solutions market remains positive. Continued technological advancements, coupled with rising consumer expectations for personalized online shopping, are likely to drive further growth and market penetration in the coming years. The market is expected to see significant regional variations, with North America and Europe currently leading the adoption, followed by the Asia-Pacific region. Competitive landscape analysis reveals a fragmented market with numerous players offering various solutions, ranging from basic body measurement tools to sophisticated 3D body scanners and AR/VR integrated platforms. This competition will further drive innovation and enhance the offerings available to consumers.

Credit Cards Market size was valued at USD 14.31 Billion in 2023 and is projected to reach USD 17.50 Billion by 2030, growing at a CAGR of 4.2% during the forecast period 2024-2030.

Global Credit Cards Market Drivers

The growth and development of the Credit Cards Market can be credited with a few key market drivers. Several of the major market drivers are listed below:

Spending Patterns of Consumers: The credit card market is largely driven by the spending patterns and preferences of consumers. Credit cards are in greater demand as a practical payment option as consumers move more and more toward cashless transactions and online shopping.

Situation of the Economy: A number of economic indicators, including inflation, GDP growth, and employment rates, have an impact on disposable income and consumer confidence, which in turn have an impact on credit card usage. Consumers tend to spend more and sometimes use credit cards when the economy is expanding.

Interest Rates: The cost of borrowing and the allure of credit cards are impacted by fluctuations in interest rates set by central banks. While higher interest rates may cause consumers to cut back on spending and become more concerned about repaying their debt, lower rates may encourage consumers to use credit cards more frequently.

Rewards and Incentives: To draw in new business and keep existing ones, credit card companies provide a range of rewards, cashback plans, travel perks, and incentives. Attractive rewards programs have the power to increase credit card usage and sway customer decisions.

Technological Innovation: New developments in digital banking, contactless payments, and smartphone wallets are transforming the credit card industry. Credit card issuers are investing in technological innovations to improve security and convenience as a result of consumers' increasing adoption of digital payment methods.

Regulatory Environment: Market dynamics are influenced by rules that govern the credit card industry, such as data security standards, interchange fee laws, and consumer protection laws. The pricing strategies, product offerings, and profitability of card issuers can all be impacted by changes in regulations.

Demographic Trends: The adoption and use of credit cards are influenced by demographic factors such as urbanization, population growth, and shifting lifestyles. Younger generations—Gen Z and millennials in particular—are more likely to use mobile banking and digital payments, which is increasing demand for credit cards with cutting-edge features.

Based on a survey conducted among consumers in Vietnam, in the third quarter of 2023, over ** percent of Gen Z respondents confirmed using TikTok. Meanwhile, about ** percent of Gen X respondents said they were using the platform. TikTok is an integrated social media app for creating and watching short videos that has recently become one of the most popular social media platforms in Vietnam. TikTok widely used by Gen Z in Vietnam First launched in 2017, TikTok has generated millions of active viewers worldwide. The platform uses algorithms that select the content which users frequently interact with, and continuously suggests similar content matching the needs of viewers. In Vietnam, together with other social media apps, TikTok is well-received by the majority of Gen Z, not only for entertainment purposes but also for online shopping activities. Social media usage - personal information and safety concerns TikTok’s For You Page feature delivers aggregated content and modifies it in accordance with users' comment-like-share behaviors. In order to get access to some trending filters, users provide their data in exchange for a personalized experience. As a result, concerns regarding personal data and children’s safety have been a topic of discussion among social media users, especially Gen Z, with some considering quitting the apps due to privacy reasons. According to Tiktok, users below 18 years old will not have access to content assigned to a limited audience, which would help restrict the visibility of content that may not be appropriate for everyone.