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Brand Loyalty in the Beauty Industry
Posted: August 7, 2014
Investigating a consumer’s brand loyalty can provide valuable insight on how a beauty company can tailor offerings to the needs of its specific customers. According to a video titled "Using Brand Loyalty to Tailor Product Offerings in Beauty and Personal Care,” Euromonitor International discussed results from its recent survey on personal appearance in which 50% of consumers said they remain loyal to a specific, trusted facial care brand. However, in the same survey, 55% of consumers also said they switch nail polish brands on a regular basis.
To go into greater detail, L’Orèal Paris, a leader in the facial care market, and Maybelline, a nail polish category leader, were studied further. The research from Euromonitor showed that, during the same time period under review, L’Oreal Paris expanded its market value share by 50 basis points while Maybelline remained the same. This indicates that, currently, beauty consumers are more prone to remain loyal to a specific facial care brand than a nail polish.
So, what products does your beauty brand offer that can inspire more loyalty in your customers? And how can you build off those products to keep them coming back for more?
This content is adapted from an article on www.gcimagazine.com.