Weekly Newsletter - 18.07.2024

Prime Day 2024: Beauty Brands’ Golden Ticket to Year-Round Success

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Beauty Broadcaster
July 18, 2024 • Estimated Reading Time: 7 minutes

THE LATEST IN BEAUTY AND COSMETICS

Amazon Prime Day 2024 set new records with consumers spending $14 billion over two days, up 10.5% from last year. Premium beauty brands are increasingly participating, recognizing Amazon's growing influence in the beauty space.

While Prime Day offers significant benefits, skincare brands should view it as part of a broader e-commerce landscape. Fospha research shows top-performing brands allocate more spend to upper funnel channels such as meta and TikTok. As brands mature, they need to diversify their channels even more to reach new customers.

👉 Why It Matters: Success in e-commerce extends beyond individual events like Prime Day. Skincare brands need a holistic strategy that balances short-term sales with long-term growth.

"The success of Prime Day hinges on the groundwork laid in the months prior,” says Sam Carter, CEO of Fospha.

Brands that invest in awareness and engagement activities throughout the year outperform others during key sales periods, underscoring the importance of a year-round, multi-channel approach to e-commerce success.

INSIDE THE $450 MILLION AMBANI WEDDING
Celebrities, Ex-Prime Ministers, and Social Media Frenzy!

The wedding of Anant Ambani and Radhika Merchant was a spectacle of opulence and grandeur. Held at the Jio World Convention Centre in Mumbai, this three-day affair drew a star-studded guest list, including Bollywood icons Shah Rukh Khan, Salman Khan, and Aamir Khan, as well as global figures like Bill Gates and Ivanka Trump. Rihanna's exclusive performance, reportedly costing $8 million, added to the glitz.

Mukesh Ambani ensured the event was unforgettable, featuring over 2,500 dishes that catered to the tastes of a diverse and elite crowd. Highlights included Kashi's chaat, personally requested by Nita Ambani, and a variety of Indian street foods like Pani Puri and Samosa, bringing a personal touch to the lavish menu​.

From luxurious pre-wedding celebrations on a cruise through Italy and the South of France to the stunning red and gold themed invitations, every detail was meticulously planned. The wedding was a fusion of traditional Indian culture and modern extravagance, making it a milestone event in high society​.

Lygos has launched Soltellus, a biodegradable polymer for skin care and hair dye products. This innovation addresses the growing demand for sustainable beauty ingredients, offering biodegradability, mildness, and multifunctionality. Soltellus aims to empower formulators to create eco-friendly, high-performance cosmetics, reflecting Lygos' commitment to sustainability and clean beauty solutions.

Beauty brands are urged to expand globally through e-commerce, with the market projected to reach $646 billion (about $2,000 per person in the US). Online marketplaces like Amazon and Zalando are key for growth. Brands must address challenges like transparency, price control, and market knowledge. Pattern offers strategies for international success, including market analysis, cultural fit, and localized pricing. Embracing these changes can unlock global opportunities for beauty brands

E.l.f. Beauty is integrating real-world commerce into its Roblox experience, allowing users to purchase physical products through a virtual kiosk. This initiative, powered by Walmart, aims to engage younger consumers and highlights E.l.f.'s commitment to innovative marketing strategies and cruelty-free products. The move could enhance E.l.f.'s presence in the digital and beauty markets.

Ad Age and Base Beauty Creative Agency released a groundbreaking research report, "The Empathy Effect," highlighting empathy's role in driving business growth in beauty, wellness, and personal care industries. The report, based on a survey of 200 C-suite leaders, reveals that empathy in marketing fosters meaningful consumer interactions and enhances business success.

Which beauty trend do you think will shape the industry the most in the next five years?

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Ulta Beauty's Beauty& campaign aims to redefine beauty standards through creative content, a podcast, and a $200,000 donation to the Jed Foundation. The initiative focuses on inclusivity, mental health support, and self-expression, featuring collaborations with cultural influencers and designers to inspire individuals to reclaim beauty on their own terms.

Starskin, a high-performance beauty brand, has launched its innovative skincare products in the US, debuting at Barneys New York. Known for its award-winning masks and applicators, Starskin aims to expand its presence in the US market, reflecting the growing demand for advanced skincare solutions.