Small Cosmetics Brands Make Over the Beauty Market by Targeting Millennials

How small independent beauty brands, like True Botanicals, are targeting millennials and hurting bigger, known brands.

Independents brands are noticing that millennials are the biggest buyers when it comes to cosmetics and skin care. These brands are capitalizing on this trend by catering their business to this demographic, such as having an online presence, focuses on organic ingredients, and personalized services. Furthermore, sales are reflecting these numbers as well. Some of these independent brands grew over five percent within a period of five years and are the fastest- growing segment in the global beauty industry. One of these growing brands is True Botanicals. Emphasizing on green and organic material and using online skin consultations, this company has seen double and quadruple sale volume numbers within a two-year period. While these brands are seeing growth in their business, the question that remains is that will they stay independent or become an integral part of larger brands in the future.

This article relates to the marketing concept in three different aspects. The first huge aspect is segmentation. As stated above, these brands are capitalizing on millennial consumers. They are able to do this by tapping into trends that millennials follow, such as concerns for the environment, social media, and personalized services. With this information, these brands are able to market their product toward them and grow their business. The second aspect is competitors. Most of these lucrative brands are well known and have been dominating for some time. Seeing that these larger brands are not focused so much on personalizing their products, the independent beauty brands can use this as an opportunity to tailor their market plan into having more personalized services with their products, such as customizing beauty products to skin types, which could give them an edge over their competitors. The last aspect is promotion. Since social media is an important concept in millennial culture, independent can have the advantage by marketing their products and their brand through different social media outlets, such as Twitter and Instagram. Furthermore, they can also partner with social media and beauty influencers to promote their products on their pages.

I picked this article because I too consume a variety of cosmetic products from lucrative and smaller brands. It is also interesting to see how cosmetic brands are tapping into their online presence today and see if they are able to use social media to their advantage since everyone has an online presence. Furthermore, it is interesting to see how much people care about what products that they are putting on and into their bodies and looking into brands that are able to provide them with this type of service.

https://www.wsj.com/articles/small-cosmetics-brands-make-over-the-beauty-market-by-targeting-millennials-11556296365