Weekly Newsletter - 29.08.2024

Why tweens are flocking to skincare and the $64B fragrance surge

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Skincare Unboxed
August 29, 2024 • Estimated Reading Time: 5 minutes

The beauty industry is undergoing a transformative period, with brands like ColourPop, Smashbox, Curology, and Dr.Jart embracing new e-commerce platforms to reach tech-savvy consumers. ColourPop's debut on TikTok Shop exemplifies the power of social commerce, tapping into TikTok's vast user base to drive sales. This move underscores the importance of agility in production and distribution, as rapid product launches become the norm.

Smashbox's expansion into Amazon's Premium Beauty Store highlights the significance of major e-commerce platforms in reaching a broader audience. By offering exclusive sets and leveraging Amazon Prime's fast shipping, Smashbox aims to make high-quality products more accessible. This strategy reflects the growing need for brands to align with popular platforms and offer unique products to stand out in a competitive market.

Curology's partnership with Amazon marks a shift from subscription-based models to more flexible purchasing options. This move emphasizes the importance of convenience and speed in today's e-commerce landscape, as consumers increasingly value fast and reliable delivery. By making its dermatologist-designed products more accessible, Curology aims to reach a wider audience.

Dr.Jart's entry into Amazon's Premium Beauty Store showcases the growing influence of K-beauty in the US market. Integrating digital content like Skin-a-gram videos into the shopping experience highlights the importance of engaging and educational content. These strategic moves by leading beauty brands signal a dynamic and digital future for the industry, presenting both challenges and opportunities for manufacturers and suppliers to innovate and thrive.

The Sephora Kid trend sees tweens captivated by skincare, driven by social media. Experts advise simple routines with gentle products, avoiding harsh chemicals. Parents should educate kids on safe skincare practices. Recommended products include gentle cleansers, moisturizers, and sunscreens designed for young, sensitive skin.

Financial Times

Perfume sales have surged post-pandemic, showing double-digit growth and reaching $64.4 billion globally. The trend is driven by increased self-care and a shift towards premium products, especially among younger consumers. Despite potential limits, the market remains robust, with prestige fragrances outperforming mass-market options.

Estée Lauder Companies reported a 2% decrease in FY24 net sales, primarily due to challenges in China and Asia travel retail. Despite this, the company is optimistic about FY25, focusing on strategic shifts, including e-commerce expansion, high-end fragrance growth, and cost optimization to drive future profitability.

Colgate-Palmolive's European Media Lead, Sabrina Mucig, emphasizes the importance of premium content in building brand trust and engagement. By leveraging insights and strategic sponsorships, the company enhances its reach and ROI across diverse markets. Investing in premium media ensures brand safety and drives business growth through strong ROI.

Campaign Live

TikTok is revolutionizing peak season marketing, driving engagement and conversions through its unique blend of community, commerce, and entertainment. Brands should adopt a full-funnel approach, leveraging TikTok's advertising solutions to capture attention and influence purchasing decisions. This strategy promises significant business outcomes during the festive season.

B2B marketers in North America and Europe plan to boost social media and video content this year, driven by Gen Z's digital habits. Short-form social videos are seen as high ROI, with LinkedIn video uploads set to rise 45% YoY. This trend underscores the growing importance of video in B2B marketing.