Future growth is expected amongst private label beauty products according to Euromonitor. We have already seen this trend start to emerge in Australia with Cole’s recent focus on ranging health & beauty products, and their launch of the Derma Q10 range which garnered huge popularity in the UK.
Given that many of the retail brands launching into this space have no prior beauty experience or credentials, they are primed to respond to consumer demand. This is evidenced by H&M’s organics range in the UK. Their ability to start from a clean slate will mean that ‘traditional’ beauty companies will need to innovate in response to consumer demand and localise to keep up with the emergence of new competitors. If they are unable to do this, consumers will be looking for added value to rationalise the higher price point of more traditional beauty brands.
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