Sephora, Glossier, and More Join LRW Group for a Discussion on Future of Innovation in the Beauty Industry
On August 9, 2019, global insights leader LRW Group brought together some of the brightest minds in beauty for a lively and thoughtful discussion, Signals Through the Noise: Staying above it all in the ever changing, disruptive world of beauty. Brand executives from Sephora, Glossier, Mary Kay, and Violet Grey joined LRW Group for a powerful conversation that examined where the industry is today, where it is going, and how brands can turn solid research and data into actionable business strategy.
The discussion included such topics as why brands should take the long view and stop chasing trends, the anthropology of online beauty conversations, and an examination of the DNA of online beauty consumers and their ultimate path to purchase. The breakout concept of the evening was on how health and wellness have impacted beauty, with more companies looking to do research on micro-biomes and how products impact one’s ability to digest food, etc. Key highlights from the discussion included:
1. There are multiple types of consumers.
When it comes to making purchases, there are different types of product consumers. There are Feelers who need to sample and try before they buy, Reviewers who do their research before purchasing, Micro Influencers who are engaged and will share their experience/purchase on social with family and friends (as well as outside of their social circle), Comparers that buy in-store and compare products prior to purchasing, and OG Influencers that watch and engage, using social media to share their reviews and purchases, as well as application techniques.
2. Cultural shifts are happening in the beauty industry.
Companies must focus on the broader view of the consumer and be on-trend, not trendy.
Cultural shifts, such as the current political climate, are influencing consumers.
Luxury is in a state of flux, and as luxury brands revamp themselves, their focus must be on sustainability and transparency.
The concept of identity is disappearing, and people are less willing to be put in a box. Men are also coming into their own, which is impacting the beauty space.
3. The discover of “holy grail” skin care and makeup is a deeply personal pursuit.
Nearly twice as much online conversation is taking place about makeup vs. skin care, and when it comes to skin care, consumers want to solve a problem or achieve a desired result. The top reason for buying skin care is to feel transformed and pure—brand is not the first thought in the conversation.
With makeup, consumers want to explore, create, innovate, collaborate, learn, and stay current. The top reason for buying makeup is to try something new and to feel smart, sensual and carefree.
For more information about LRW Group, visit their website.
[Photos by Matthew Wyman]
Kamala Kirk is a University of Southern California graduate and has been an editor/writer for more than a decade. She has written for E! Online, Total Beauty, TravelAge West, Malibu Times Magazine, and many more. She resides in Los Angeles and is a proud pug mom. Follow her on Instagram: @kamalakirk