It’s clear that multicultural beauty consumers are a force to be reckoned with. CEW brought together three experts in multicultural beauty at its Beauty Insider Series event on November 23rd to talk category trends, marketing and retail strategies, and future opportunities for engaging the diverse beauty market.
Panelists Susan Akkad, Senior Vice President, Local & Cultural Platforms, Corporate Innovation, The Estée Lauder Companies Inc.; Richelieu Dennis, Founder and CEO, Sundial Brands; and Nicole Fourgoux, General Manager, Multi-Cultural Beauty Division, L’Oréal USA discussed how multicultural is becoming the new mainstream given the demographic changes in the population, and the importance of this for the future of the beauty industry. According to the Census Bureau projections, by 2019, less than 50 percent of all births in America will be Caucasian.
The speakers discussed why the traditional approach of demographic silo targeting is no longer effective in reaching the multicultural consumer and shared strategies for developing an inclusive marketing model. They also discussed future opportunities in retail and product development.
At the event, we noted some key facts on the multi-cultural beauty market and learned that the market is over $8 Billion. Richelieu feels the term multi-cultural beauty is not the best to reflect this consumer. “Does it mean that white people don’t have culture?” He looks at this consumer from a psychographic standpoint and looks for ways to best engage her. Susan does not use the term, rather she feels this a population target, not a consumer target.
So, what can retailers do to better serve this demographic?
– make it a priority
– get the shelf, merchandising right – ie Why is there an “ethnic” section? Why can’t those products be with the mainstream products?
– have the shelf/product mix represent the community they are in
– think about the visual identity
– advice/education – focus on giving beauty advisers the more education on multi-cultural brands/products
Are there any retailers that are getting it right here? The panel agrees that it’s Target. Rich added that Target has set the bar. They are showing other retailers how to appeal to a multi-cultural consumer, for example building brand partners like Carols Daughter and Hair Rules.
Lastly we leaned that to better serve this demographic, brands should start innovating for her, rather than adopting current products for her.
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About CEW
Cosmetic Executive Women, Inc. (CEW) is a global, nonprofit professional organization with 8,000 global members, both men and women, from over 2,250 companies in the beauty and related industries. CEW brings the beauty community together, at every stage of their careers, from every facet of the industry. CEW leads the conversation in beauty, addressing topics that are shaping the future of the industry and provides unparalleled access to industry influencers and thought leaders. CEW provides the connections, tools and leadership development resources to move careers forward. CEW recognizes professional achievement and innovation in the industry to inspire the next generation of leaders. CEW is based in New York City, and also hosts events for the beauty community in Los Angeles. Additionally, CEW has associated organizations in France and the United Kingdom. The CEW Foundation supports Cancer and Careers, a comprehensive program for people balancing work and cancer. For more information, log on to cew.org.
Photos courtesy of Patricia Willis Photography
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How do you think brands can better serve this demographic?
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