Ful Danisman

About Ful Danisman

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profit

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One of the main goals of a business is to achieve a financial status where you gain an income that will benefit your spending for the company. This spending depends on the size of the business or the industry where you are competing against a variety of companies that produce the same products but manage to sell them in a creative way. The beauty industry is an example of the importance of creative marketing which shapes and manipulates consumers’ tastes and needs. (Mitterfellner, O.,2019) Making a difference in the industry helps to gain a bigger income which leads to a more successful brand. In this case diversity plays a big part in enhancing the workplace environment by broadening the employees’ perspectives. (Herring, Cedric, 2009) 

In the last 20 years Global Beauty Market has grown by 4.5% a year on average (CAGR), with annual growth rates ranging from around 3% to 5.5%. (Lopaciuk, Aleksandra, and Mirosław Loboda, 2019). These rates change because of geographical aspects depending on consumers’ needs. Also, with today’s technology social media is also an aspect that determines the industry’s flow and brands’ income.  

The Global Beauty Market is usually divided into five main business segments: skincare, haircare, color (make-up), fragrances and toiletries. (Lopaciuk, Aleksandra, and Mirosław Loboda, 2019) These are the sectors that the beauty industry performs where brands try to satisfy their costumers by individually taking care of these segments and producing products for people with different needs. Whilst coming up with new products brands also need to think about the marketing aspects of their work. 

Creative work came in hand especially when the world was experiencing a pandemic which started in 2020. (Brannen, Samuel, et al. 2020) Online ads were necessary for bradns to stay in touch with their consumers. Embracing social media and trends on the internet is the key for a brand to successfully put their products on the market to remain competitive. This creative work has to be managed well. 

Creative directors’ work is to understand the workflow of the company but also to analyze the consumers to find a balance between creativity and commerce. Putting a product on the market that will intrigue the consumers without making them bored of the product because of overselling is the way to a well profited brand that will survive in the industry. The brands who survive in the industry know that customers profit is their profit.  

https://marketsizes-mintel-com.arts.idm.oclc.org/snapshots/GBR/15/definitions/single

Accessed 21 Oct. 2023. 

Herring, Cedric. “Does Diversity Pay?: Race, Gender, and the Business Case for Diversity.” American Sociological Review, vol. 74, no. 2, 2009, pp. 208–24. JSTOR, http://www.jstor.org/stable/27736058. Accessed 22 Oct. 2023. 

Mitterfellner, O. (2019) Fashion Marketing and Communication: Theory and Practice Across the Fashion Industry, Taylor & Francis Group, Milton. Accessed 22 Oct. 2023. 

Lopaciuk, Aleksandra, and Mirosław Loboda. “Global beauty industry trends in the 21st century.” Management, knowledge and learning international conference. 2013. 

Brannen, Samuel, et al. Covid-19 Reshapes the Future. Center for Strategic and International Studies (CSIS), 2020. JSTOR, http://www.jstor.org/stable/resrep25198. Accessed 22 Oct. 2023. 

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People

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The protagonist of the fashion industry is the people. Whether the people behind the company who make products or the people who are the consumers waiting to buy these products. But in the end, everything and everyone is intertwined. The key point of this industry is to understand the differences between people and serve their needs which will lead the companies to success. This does not only depend on the consumers but also the workers, the producers who need the safe and compromising environment to deserve the price of their work. With technological developments and the use of social media the sources needed to achieve these fundamental points are easier to perfect.

Different generations of customers play a big part in the marketing aspect of a business. Today’s generation, which is called “Gen Z,” is a generation that grew up with the internet. Being the first “digital natives,” their main interest is following the “trends” online that suits them the best. Therefore, brands must engage with the progress made in the social media networks. (Francis, T. and Hoefel, F., 2018)

Nowadays, with the use of TikTok, numerous brands have started to increase their number of consumers and also their income as well. This strategic marketing is what brands need to be using to adapt into today’s world of selling. Marketing teams need to expand their horizons and think from a Gen Z point of view and engage in social media.

With the responsibility of answering people’s needs there is a big issue involving diversity. Some brands have started to raise awareness to this topic where some brands are still not quite achieving what they should be doing. An important step was taken the cosmetics industry when “Fenty Beauty” launched their foundation and concealer. The shade range of these products were really diverse, and it meant that every person from different skin tones were able to find their perfect match. This being an example diversity is not just about skin tones but also knowing different cultures.

For a brand to be successful people who work need to have good communication skills to talk with their consumers. They need to understand their needs, cultures and ask what they want. Also teamwork is also a crucial point in a business such as beauty where the competition never ends. Talking with your team to have the best products and the brand that everyone would prefer is unachievable without communicating with people.

Francis, T. and Hoefel, F., 2018. True Gen’: Generation Z and its implications for companies. McKinsey & Company, 12. https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true-gen-generation-z-and-its-implications-for-companies


The A to Z on gen Z (2023) McKinsey & Company. Available at: https://www.mckinsey.com/featured-insights/themes/the-a-to-z-on-gen-z

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Planet

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Fashion industry is interlinked with different matters such as our planet, which provides us with the natural resources that are needed to create different textiles to produce products to sell to consumers. Actions that are taken to provide people with products and sources they need directly affect our planet. The planet being the home for all living creatures there is a responsibility to protect the natural resources used by corporations to eliminate the waste created by ill-considered systems. 

There are new circulatory systems used to reduce waste in multiple continuous productions to repurpose the sources. However, there is a linear circulatory economic system currently used in the fashion industry which is based on “take-make-waste” approach (Stockholm Environment Institute, 2019). This system is setting the sustainability action back because of its lack of thoughtfulness towards the environment, and the focus on mass production. Instead, the intention should move towards being sustainable and reducing waste, such as oil usage and water waste. 

Global environmental change is ongoing and the relation between the beauty industry and our planet is massive. With creating these variety of products, the damage that has been caused by industry is increasing throughout the process. According to BBC, 8-10% of carbon emission and almost 20% of water waste is caused by the fashion industry with this irresponsible usage of resources is not only damaging the planet, but it is also creating an environment where there will be nothing left for industry to consume (Ro, 2020). With this issue being a predominant part of climate change it is important to raise awareness within the consumers and product developers to invest in better organizations who take these matters seriously. Such as Sustainable Development Goals developed by the UN in 2015 for completion by 2030 to save our planet. 

UN’s 17 Sustainable Development Goals are calling for a global partnership which is continuing to evolve. One of these goals, which is “Responsible Consumption and Production,” is the main issue in the fashion industry that is creating problems for humanity and the planet with its wasteful production systems that are taking over this matter. This goal has an impact on 7 of the goals and is impacted by 9 (Lim, Michelle M. L., et al. ,2018). This shows the recurring issue in industry which it is impossible to reach a result without taking care of all the many inconveniences that are dragging along the planet with them. 

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Screenshot-2023-09-29-at-15.35.16

My Favourite Cosmetics Brand

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My current favourite brand is Pat McGrath Labs. I love the packaging and the products they put out. I haven’t tried all of their products yet but it is really exciting to see all the variety of quality makeup products they make. I specifically love their eyeshadow palettes, they are really pigmented and may be used for different makeup looks. Another reason I love this brand is that they make special collections (such as their Star Wars collection) and they are highly wanted by fashion brands during fashion weeks to create beautiful looks using their products. I think it’s incredible to see a cosmetics brand to be this involved in the fashion business.

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