RISING EXPECTATIONS BRINGS EMERGING OPPORTUNITIES
Today’s Consumers Are Driving Product Innovation and Value Growth
With such change in the way we lead our lives today, consumers are fast becoming the driver of change in more ways than one. When it comes to beauty solutions for concerns vs wishes vs desires; consumer chatter could be the key to success for some beauty innovators…. but only those who are really listening.
“People will sit up and take notice of you if you will sit up and take notice of what makes them sit up and take notice”
– Harry Selfridge
Mr Selfridge, one of the most respected and wealthy retail magnates of all time who changed the face of the UK retail landscape with this hypothesis over 100 years ago was onto something then but should we pay attention? Does this sentiment remain valid today – and if so, is it even ‘more’ valid today?
When Harry Selfridge launched Selfridges in 1909, he said, “We have data to show us where our audiences are, and information necessary to identify what they’re interested in.”
Taking inspiration from Mr Selfridge and drawing on experiences of the ages, Wellfully took the steps to really get under the skin of beauty consumers. Really hear individual skin and hair concerns, and find out what their desires, requirements and needs are – and did so via a simple online beauty quiz to power its latest data-driven approach for a nonlinear path to purchase for consumers.
Having launched the consumer beauty research via its Swiss Precision Beauty brand, RÉDUIT, Wellfully is able to power forward at full speed in the times of a covid-affected retail landscape by turning customers’ ideas and requirements into real tangible products. Not only is this approach building engagement and loyalty with consumers, but it also allows RÉDUIT to optimise its offering to meet the needs of the masses – desirable insights for the current competitive and challenging marketplace.
CONSUMER FEEDBACK POWERING REDUIT GROWTH
In the first six months of launching RÉDUIT, 20 product innovations were launched in 20 weeks, a task which was no mean feat and highly regarded as impossible in the pandemic, but was necessary to gain customer feedback and inform next steps.
The online quiz was able to identify that the most popular skin concerns were ‘acne and blemishes’, ‘signs of aging’, ‘dark circles’ and ‘dryness’ (combined 77%). Similarly the most common end results for skincare were ‘healthy glow’, ‘younger looking appearance’ and ‘hydration’ (61%).
While RÉDUIT already has a full range of Skinpods to suit every skin concern and desire, using this data, the brand can identify a ‘popular skin range’ comprising four Skinpods from the existing range, to scale up via personalised and dedicated communications which will address the needs of half of its consumers proactively.
Not only will this increase product adoption from the majority of consumers, it will inform greater efficiencies when it comes to planning, supply chain and manufacturing.
Similarly the hair analysis identified the most common hair concerns to be ‘breakage and split ends’, ‘lack of volume’ and ‘unmanageability’ (85%) and the desired results correlating to that, being ‘more volume’, ‘frizz free’ and ‘resistance to breakages’ (63%). In this case, RÉDUIT was also able to create a ‘most desired hair range’ of bestsellers to appeal to the majority and inform future business decisions.
“The traditional path to purchase has changed vastly and we are replacing this with a personalised connection via many platforms and channels. Via our newly launched Ambassador Program consumers can talk within their networks and have access to relevant information connecting them to tailored solutions that meet their needs directly. Similarly via feedback from the online quiz structure, we can address concerns of the majority without having to be too invasive for those who prefer to openly access the information they require.” Explains Wellfully CEO, Paul Peros.
“Taking a data driven approach and listening well, does not mean we kill off less popular Smartpods, it means we can cater to the masses in providing content, visibility, education and meet the expectations of our consumers giving them the information and products they desire. This will not only bring us emerging opportunities to grow, but will also enable us to innovate for a clear demand in the market.”
“Today’s consumer path to purchase is now nonlinear and by taking Harry Selfridge’s hypothesis of ‘sitting up and taking notice’ we are developing our own path to success and consumer adoption, allowing customers to enter our world via ambassador recommendations, personalised quizzes and social media amongst other streams. The imminent launch of our latest UNI device also takes this approach, bringing a minimal, ergonomic, accessible and perfect on-the-go beauty tool to the market that consumers have been shouting out for, and we listened.” Adds Peros.