This Week in Beauty
Stay in the know. We searched the internet for relevant beauty insights, so you don't have to.
This week, we are rethinking sales, navigating Cleanical, and peeking into the changing ways brands are getting sold at retailers.
Rethinking Discounts: The Power of Annual Sales
In the ever-evolving marketing world, a seasoned beauty marketer shared insights about the impact of strategic discounting, featured on Glossy . They champion a unique approach—a single, annual sale on Black Friday.
The result? A significant boost in repeat revenue and a 40% year-over-year increase in average order value.
The marketer emphasizes the subconscious training of consumers with constant discounts, underscoring the importance of framing behavior.
Key takeaways:
??Honesty Builds Loyalty: Clear communication and commitment to promises create brand trust.
??Beyond Discounts: Focus on value-driven offerings like free expedited shipping and seamless customer experiences.
??Authenticity wins: Relevant, human-centric social media content stands out amidst the Black Friday noise.
Share your thoughts: How do you approach discounting to balance growth and brand value?
Meet Medical Grade Organic Skincare:
The post-pandemic era has sparked a heightened interest in natural and organic skincare with clinical efficacy, leading to the emergence of cleanical skincare.
The term clinical lacks regulation, creating varied interpretations among individuals and brands. Europelab, a premium skincare formulator, aims to address this by focusing on formulas certified as both organic and medical grade.
Market research from Mintel indicates a strong consumer demand for products at the intersection of organic and medical grade, with 82% of consumers using more clean/organic products compared to the previous year. Additionally, 72% of shoppers believe beauty brands should provide more scientific evidence for their claims.
Now, what constitutes a medical-grade product and an organic product?
A product is "medical grade" when it makes a "therapeutic claim to diagnose, treat, cure or prevent a medical skin condition like acne or eczema."
Regarding the organic landscape, certifications are essential for supporting ingredient claims. An independent body like Europelab will review everything from "ingredient sources and farming practices to packaging and labeling" to ensure standards are met.
Where to start?
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Manon Pilon, President of Madame Nelly de Vuyst, recommends that founders start with a single product and expand the number of products certified organic over time.
Retailers Expected to Pull Back on Adding New Beauty Brands in 2024...
Jessica Matlin , director of beauty at luxury fashion e-tailer Moda Operandi, Inc , forecasts retailers will be conservative with their beauty purchase orders in 2024.
After launching its beauty vertical with some 55 skincare, fragrance, makeup, haircare, and body care brands in early 2023, Moda Operandi is reducing the number of new brands it's bringing into its beauty assortment next year.
So, what are retailers and industry leaders anticipating for beauty in 2024?
??Unclear Spending Habits
"People are not really feeling like spending, so how much are they going to spend, and are they going to be using beauty as a treat product, but maybe pulling back on other things?" said Matlin, who co-hosts beauty podcast "Fat Mascara."
To counter this, brands and retailers focus on not taking wild swings out of the gate but on proven products.
??Uptick in SKUs with Rituals
Single-product brands like Fara Hamidi and REOME have gained sales momentum at Moda Operandi, Inc .
What stands out about these products is not so much that there is a line gaining traction but a SKU with a lot of buzz due to its status implications for shoppers. Luxe lipstick and elegant skincare all help play a role in beauty rituals as opposed to the standard overconsumption of beauty products.
??Luxury Means Something Different for Everyone
At Moda Operandi, Inc , Jessica Matlin noticed that customers gravitated to luxury beauty this year, but the demand for what she called "super, super luxury" has lagged.
"The definition of luxury and the definition of treating yourself is different depending on the person," she said. "It's wider, and people are looking for luxury at different price points. They're aware that they can get skincare products that perform really well at different price points."
Contributors: Hailey Gerards, Noureen Shallwani, and Bryanah Tonkins
Each week, we search the internet to find fundamental beauty news and give you the insights you need to stay in the know.
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