Inside the Booming Beauty Industry: Looks That Thrill

How has the beauty business become so forward-thinking? How did Glossier and The Ordinary tackle (and solve) the challenge of engaging customers, establishing brand loyalty, and generating unique experiences? The lessons apply to all DTC businesses.

The industry is robust globally and is only becoming stronger

Kindling, perhaps? Rapid growth via digital platforms, as well as an influx of new clients, prepared to pay more for greater quality.

Nature is lovely because it resembles art, and art can only be deemed lovely if we recognize it as such while it seems to be natural.

Critique of Judgment by Immanuel Kant

As developing markets gain buying power and become more globalized, multinational corporations may see opportunities to join provided they deliver higher-quality items than those offered domestically.

The Asia Pacific and North America are led by geography, accounting for more than 60% of the total.

Beauty Industry Developments

The beauty sector is notoriously anti-cyclical, to the point that the lipstick effect, a well-known economic phenomenon, is derived from it. Consumers will still buy luxury things in a downturn, according to this phenomenon, which is only partially validated, but lesser price items, such as lipstick, would be prioritized.

Beauty Democratization: Bringing the High and Low Together

The entrance in the United States of specialist French beauty store Sephora in 1999, as well as the advent of Ulta, was a forerunner of this trend and the beauty industry’s expansion. These businesses identified a market niche and filled it by offering customers unique shopping experiences that went beyond going to the mall or buying beauty items from a pharmacy or supermarket.

Instagram Influencers Paint a Pretty Picture of the Rise of Social Media

Finally, the emergence of social media, particularly the image-based social network Instagram, has accelerated the advancement of the beauty sector. A visual medium is best for a beauty company since it enables it to fully explore the aesthetic possibilities of its goods.

Beauty Industry Growth and Product development

This is the primary cause for The Ordinary’s amazing success (to the point that several goods were effectively sold on the black market due to long waiting lists). The brand slogan explains the approach: “Clinical formulas with integrity.” The company’s main emphasis is on supplying effective chemicals and formulas that consumers can then incorporate. The emphasis is on the product, and only the product, with relatively little money spent on packaging and promotion.

Conclusion

Glossier and The Ordinary, in particular, are pioneers in the beauty industry who can provide very specific guidelines for what makes a consumer brand successful: understanding the company’s strength, whether it is consumer experience or product, creating a simple and clear brand based on the company’s ethos, and maintaining extreme control over all aspects that define the focus to ensure consistent quality. These are priceless lessons for every business owner.

If you’re looking for a beauty industry deep dive, research professionals and our consulting team can help.