Cosmetic industry: Types of customers and segments

The cosmetic industry is in a state of flux. Traditional brands such as Revlon, L’Oreal or Lancôme are viewed as old by customers. Indeed, now, consumers are looking for more holistic and healing benefits from their skin care products. They are no longer content with just the appearance benefits offered by traditional brands. As environment becomes a really important issue nowadays, customers are seeking for brands that bring them an awareness of eco-friendly and natural products. Today consumers are being more informed and more inquisitive about the benefits of their personal care products. They spend much more time making research on a brand or a product before buying it. They compare products and are seeking for several benefits in a single product. Thus, their skin crème needs to protect them from the sun damaging rays, moisturize their skin and reduce the effects of aging. They are seeking relief from the effects of a hectic 24/7 lifestyle.

In addition there has been a democratization of luxury. The upper-class family group is massive. Luxury spending is growing four times faster than overall spending. Working women of all ages have more money and they are spending it on personal luxuries. Consumers will buy, but they want more than just another product. They are choosing to take better care of themselves and others. They are looking for peace, solutions and fulfillment. They are seeking a "value added" product.

That’s why, the cosmetics industry goes to ‘natural products” but without less quality than traditional products. In contrary, they try to create products that respond to several needs in a single one.

We will see in a future article how Kiehl’s responds to this new demand of the market, but before, we want your point of view.

So please, let your comments to explain us how do you think Kiehl’s answers to these demands?

Source: http://www.bplans.com/cosmetics_manufacturing/