With a market size estimated at $400 billion, beauty brands and beauty goods are one of the most rapidly growing sectors of the global economy. Have you ever wondered how the beauty industry managed to grow exponentially even during time of a global crisis? When they first came out, beauty products were viewed as a luxury. However, the beauty sector has now established itself with millions of devoted consumers and has transitioned from the realm of luxury goods to FMCG products.
How the industry achieved such enviable growth is a question that crosses everyone’s mind. The cosmetics industry’s expansion is largely credited to its marketing and branding strategies. With new brands and product debuts every now and then, the industry’s marketing techniques have undergone several changes.
The cosmetics industry is so vast that a new product is launched every other day. They have a lot to offer their target audience. Products are marketed using a variety of strategies depending on the brand, ranging from innovative solutions for specific issues to creative package designs. The digital presence of brands is attributed to their success. The majority of skincare and cosmetics brands have their own social media handles, which are regularly updated with the latest trends to interact with their target audience. The majority of cosmetic brands use creative advertising concepts to raise awareness among their target demographic, ranging from influencer marketing to many cutting-edge approaches.
Huda Beauty and their influencer collaborations
Influencer marketing is one of the strongest strategies for promoting brands, particularly for brands involved in the skincare and cosmetics industries, and Huda Beauty employs this strategy very skillfully. In comparison to mainstream media, influencers have a better voice representation of Huda Beauty. According to reports, as much as 80% of the brand’s overall media impact value was likely contributed by influencers.
The majority of the influencers Huda collaborates with have millions of followers, which has led to a surge in brand recognition among common people. The brand’s founder, Huda Kattan, is a well-known influencer with millions of followers, which is another intriguing detail about it. She actively promotes her brand through her page by posting reels and videos of other beauty influencers. The brand has significantly benefited from this.
Fenty Beauty & their digital launch
When one of the most popular singers in the world, Rihanna, announced the launch of her cosmetic line Fenty Beauty in 2017, many would have shrugged, thinking it was just another celebrity brand. But ‘Badgirlriri’ was here to create a wave of change through her brand. Her brand’s tagline, “Beauty for all,” perfectly captures the diversity of her brand.
The brand was able to outperform the revenue of numerous market leaders in just one month, all thanks to aggressive social media efforts. Through their social media efforts, they promoted diversity by distributing their products to influencers from around the world.
The function of Beauty and their customization quiz
Customized skincare and hair care are trending in the market these days. Thanks to Function of Beauty and its personalization quiz, users may now create their own line of skincare and haircare products that suit their preferences. This approach, which was subsequently imitated by many other brands, ensured a high engagement rate for the brand.
L’Oreal’s ModiFace; a leader in AR
source: youtube.com/c/CNBCInternationalTV
L’Oreal is one of the leading drugstore cosmetic brands in the market. When they introduced ModiFace, their goal was to use artificial intelligence technology to transform how beauty was experienced by its users. L’Oreal Paris adapted to our new digital lifestyles by introducing makeup filters on Snapchat and Instagram, developing looks that are only accessible online, which opened up an entirely new perspective on the experience of beauty.
Giveaways that worked right for ColourPop
ColourPop is more of a household name for those who follow the beauty world. They are known for their affordable range of products that exude quality. Their quirky digital content has always grabbed huge engagement rates from their audiences. What has worked best for them are the giveaways. While many brands use this strategy to increase engagement and sales, none has been as successful as ColourPop.
