Factors Moderating the Success of Beauty Industry
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The beauty industry is constantly evolving, there are new products, new brands making their mark not only in India but globally as well. However, there are a few aspects that the beauty industry survives on:
Brands need to focus on the trends that the world is following and mould themselves accordingly, most importantly brands should focus on spreading every development through social media.
Nitin Manchanda, Creative Director, Wella Professionals India, says, “Consumers want to be at par with what’s in right now and how best they can get it. Due to social media, consumers are extremely alert and aware of what’s going on and what’s trending. Brands should make sure that they get that information, to keep their interest growing.”
Constant Product Innovation
The needs are changing every day and to fulfill everyone’s need brands need to constantly look for a space of re-innovation.
Manchanda says, “Innovation is the key for any brand. With a consumer that is this evolved, the brands need to constantly innovate newer methods and technologies that will suit the consumer today. We have constantly been updating and innovating when it comes to our product portfolio.”
Digitalization is the best thing that has happened to the business industry in this era. The messages are instantly being delivered to the target customer loud and clear only via digital modes.
Manchanda adds, “This goes without saying, digitalization is the quickest and easiest method for the industry to connect with their consumers. Digital has been a called out as a key priority for Wella. We continuously focus on increasing our stylist & consumer community on Facebook & Instagram.”
Men's Grooming Sector
The beauty industry has with time evolved and has made space for men. The men grooming sector is blooming and has reached to almost that of women.
Manchanda believes, “Grooming especially in men is a Need and not a desire anymore.”
Identifying Consumers’ Demand
Unless you identify the consumers’ need or create demand, how will your brand and product reach to them?
Manchanda says, “Understating what the consumer wants and working on your brand to work around growing consumer demands.”
This article was originally published on Franchise India by Nibedita Mohanta.