The FIT Cosmetics and Fragrance Marketing and Management Master’s Degree 2014 graduates are predicting a “seismic shift” in the beauty consumer based on their Capstone research. Several teams undertook extensive global research to develop a future view of the world of beauty and how the beauty consumer will evolve, presented at June 4th’s Capstone Research Presentations in New York, NY. Topics covered included: Accessible Beauty, Engaging the New Beauty Consumer, and Men’s Beauty.
The presentations provided a comprehensive view of how the beauty business and consumer will develop and unfold to 2030. The Kline beauty team came away with three key takeaways that will drive new business opportunities and strategy for global beauty marketers:
- Greater access to consumers and where/how they shop. The research pointed out the rise of the global middle class and “progressive rationalists” and challenged all marketers to think beyond e-commerce and m-commerce in terms of where and how to reach consumers. They purported that greater transparency about brands and products is also needed, as consumers increasingly will want to “purchase with a purpose”. To Kline, the ability to have a multi-channel strategy will be even more key in the future. Companies such as L’Oréal are well-positioned to take advantage of this trend. Marketers who are more transparent with their sourcing and practices, and offer benefits beyond basic needs, will also be better positioned to win.
- Engage with a new consumer model. The FIT research team challenged everyone to rethink how to categorize consumers and suggested an approach based on culture, generation, gender, and community affiliations. At Kline, we think the beauty industry is ahead of the curve and understands how to connect with consumers in relevant and meaningful ways. Among our favorite examples: Mixed Chicks hair care and Dove’s campaign for real beauty.
- Ignite Men’s beauty in an authentic way. This team stated that “now is the time for men’s beauty”, and that the tipping point is derived from the change in today’s male consumer. Roles have changed, views have changed, and faces have changed as well. We agree that the millennial male could indeed be the consumer who could embrace and accept relevant and authentic value propositions. At Kline, we admire Philips and their role in driving the whole “manscaping” phenomenon with their body groomers. Axe’s edgy marketing also successfully a trend. Clearly men are open to change and will adopt new habits that resonate with them. The key for beauty marketers is how to translate this mindset to hair and skin care.
As always, the Capstone research was thorough and engaging, a reassurance of the tremendous talent resident among our future beauty industry leaders. As members of the program’s Industry Advisory Board, Kline is proud of the students and the outcome of the research. Congratulations to all the graduates!