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Today’s beauty and cosmetics industry is sink or swim - the market is saturated with thousands of similar products, all competing for a small slice of the pie.
So. What can brands do to stand out from the crowd? Here are 10 companies thinking differently…
It’s a Jungle Out There
There’s never an easy time to launch a new business, but entering the beauty and cosmetics industry these days is certainly not for the faint-hearted.
For starters, Brexit is not helping the weak pound and things are only set to get worse. It’s not a question of whether or not there will be damage to the economy, the question is by how much we can minimise the damage. The upside is that most of us couldn’t bear to leave the house with dirty hair and no make-up so ongoing demand is likely to continue to bolster the market.
Furthermore, with the mass market now accounting for more than 70% of all beauty sales, price points are being squeezed yet further and infringing on premium brands.
Finally, new beauty and cosmetics brands are filling gaps in the market the industry either didn’t realise existed, or thought were too high risk. This leaves big brands fighting to acquire new start-ups and come up with new and innovative digital solutions to stay one step ahead.
Innovators Thinking Differently
For these trailblazers the gamble has certainly paid off.
Here are ten brands with an eye on tomorrow:
Ambar Beauty – making multifunctional products, for example a best-selling primer that can be used as a pore-shrinking primer, a moisturiser, an undereye treatment or SPF/post-sun remedy
Augustinus Bader – putting the science in skincare, these products (developed by a stem cell and biomedical scientist) claim to actively resolve skincare issues based on stem cell research
Beauty Bioscience – offering products with more actives, without increasing skin irritation
Beauty Pie – producing high quality products at affordable prices by introducing a monthly membership, in return for heavily discounted products (up to 85% off). The reason the company is able to sell products for so little is because they directly source, edit, package, and manage their own products
Fenty Beauty – singlehandedly kick-starting fresh dialogue about the need for diverse and inclusive make-up with their comprehensive shade range
JECCA – offering make up specifically for trans customers, with fuller coverage which covers beard shadows, acne and birthmarks
Knours – selling skincare products for women to use at different times of the month, knowing that women’s skin changes during their cycle and therefore requires different solutions at different times
Lunar Wild – focusing on supporting and celebrating young women as they approach the onset of their first menstruation, making mindful menstruation products on subscription
Scentbird – delivering monthly perfume testers straight to your door, targeting those of us overwhelmed by walking into the fragrance section of a large department store and being chased by women with colourful bottles
Summer Fridays – using ‘good-for-you’ ingredients they offer skincare that de-stresses the skin and is safe for pregnant women to use
What innovators would you add to this list? What challenges do you think the industry will face in 2019?
Email us your thoughts.
Image by Raphael Lovaski.