Laura Buca

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Purpose

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Purpose is the pillar which defines the reason for which an organisation has been created. It also relates to the business owner’s sense, revolve, and determination.

Brand philosophy refers to the brand’s beliefs, and it consists of three factors, which are mission, vision and value. Brand philosophy is important because it will give the brand an image and a personality (Jannois et al., 2007). This is also how a company will communicate its products, and what the brand wants consumers to feel when interacting with the brand. Furthermore, a business having its own image and personality will have a promise to its customers (Wheeler, 2023).

For example, Too Faced is a beauty brand whose mission is to give individuals the freedom to express themselves through the products this company sells (The Estee Lauder Companies, 2023). Their vision was to be a brand that is building a community with their consumers, while their values revolve around inclusivity, creativity, and integrity (Monteros, 2022). All of these values and goals of the company have helped attract more customers throughout the years.

Figure 3a: Too Faced’s most popular products, Better Than Sex Mascara, and Lip Injection Lip gloss (Toofaced, 2023)

According to Nanda, (2020) Gen Z is looking for brands that listen and learn from feedback given by consumers, and brands that act on their values and purpose. It is also important that a brand’s values align with those of Gen Z in order to be able to communicate with this generation. One of the ways a brand can communicate their purpose to Gen Z is by engaging in social issues; members of Gen Z are very considerate when purchasing from different brands – for example, most of them prefer buying from brands that prioritise sustainability, local practices, and diversity (McKinsey & Company, 2020)

Furthermore, brands communicate their purpose to Gen Z through social media platforms, such as TikTok and Instagram. For example, the purpose of the brand Asos is to create a world where individuals have the freedom to express themselves without judgement. In order to attract members of Gen Z, they have realised that it is important to create an ‘emotional connection’ with them, which is why the brand has shared their purpose through different social media platforms.

In 2021, Asos has created the ‘#AsosAlertEgo’ campaign, which consisted of users showing their transformation over Halloween, whilst wearing clothes from their brand. This campaign has helped attract more Gen Z consumers as this campaign allowed individuals to express themselves, which relates to Asos’ purpose (Grobosch, 2022).

Reference List

Grobosch, L. (2022) Educational resources and meaningful connections: how Asos is attracting Gen Z. Available at: https://fashionunited.uk/news/business/educational-resources-and-meaningful-connections-how-asos-is-attracting-gen-z/2022060963504 (Accessed: 30th October 2023)

Janonis, V., Dovalienė, A. and Virvilaitė, R. (2007) Relationship of brand identity and image. Engineering economics, 51(1). Available at: https://www.ceeol.com/search/article-detail?id=52290 (Accessed: 27th October 2023)

McKinsey & Company (2020) Meet Generation Z: Shaping the future of shopping. Available at: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/meet-generation-z-shaping-the-future-of-shopping (Accessed: 28th October 2023)

Monteros, M. (2022) Too Faced’s svp of global marketing on how the company plans to win shoppers this holiday through text. Available at: https://www.modernretail.co/marketing/too-faceds-svp-of-global-marketing-on-how-the-company-plans-to-win-shoppers-this-holiday-through-text/ (Accessed: 28th October 2023)

Nanda, M.C. (2020) Gen-Z shopping: Separating myth from reality. Business of Fashion. Available at: https://thinkific-import-development.s3.amazonaws.com/8603/GenZShoppingSeparatingMythfromReality-201007-150632.pdf (Accessed: 28th October 2023)

The Estee Lauder Companies (2023) Too Faced. Available at: https://www.elcompanies.com/en/our-brands/too-faced (Accessed: 27th October 2023)

Wheeler, K. (2023) Brand Identity: How to Develop a Unique & Memorable Brand in 2023. Available at: https://blog.hubspot.com/agency/develop-brand-identity (Accessed: 27th October 2023)

Image Reference List

Toofaced (2023) ‘Two icons, one pic’ [Instagram] 27 October. Available at: https://www.instagram.com/p/Cy4Wnl-tA1D/?hl=en (Accessed: 28th October 2023)

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Profit

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The profit pillar focuses on the economic side of the business. Every business has the goal to achieve economic growth in a sensible manner.

In 2022, it was reported that the cosmetics industry was at $262.21 billion, and it is expected to expands at an annual rate of 4.2% from 2023 to 2030 (Grand View Research, 2023). Figure 2a shows a bar chart which represents the value of cosmetic products from 2020 to 2030, where a massive increase can be noticed inbetween those years.

Figure 2a: The value of cosmetic brands to 2020 to 2030 (Grand View Research, 2023)

In the cosmetics industry, there are numerous sectors, such as:

  • Body care
  • Colour cosmetics
  • Fragrances
  • Hair colourants

Figure 2b shows a spreadsheet of the global retail market value of the body care sector, from 2011 to 2027.

Figure 2b: Body Care Retail Market Value Spreadsheet (Mintel, n.d.)

Figure 2c shows a spreadsheet of the global retail market value of the fragrances sector, from 2008 to 2027.

Figure 2c: Fragrance Retail Msrket Value Spreadsheet (Mintel, n.d.)

In brief, it is shown that the fragrances sector has a better performance than the body sector. This is shown by the fragrance sector having a larger market value every year in all locations, compared to the body care sector.

Both the fashion and cosmetics industries have been affected economically by the COVID-19 pandemic, but also by the war in Ukraine. It is shown in the present that many fashion and beauty brands are finding it difficult to adapt to the changes that have appeared after the pandemic. Because of this, 30% of the beauty industry market has shut down during lockdown. Therefore, it is important that fashion and beauty brands plan to navigate the potential risks that can take place in the following years (Amed et al., 2022).

Because of this sudden change, Charlotte Tilbury has found a method to remain competitive. During the pandemic, Charlotte Tilbury has introduced a new service, which allows the customer to shop and checkout live in a one-to-one virtual beauty consultation. This service has attracted many customers, as beauty experts working for the brand have helped individuals to find the ideal makeup match, no matter the occasion it is for (Walter, 2020).

It can be very difficult for fashion and beauty companies to stand out – this is because it is important for a brand to be unique; however, it is often hard to keep its uniqueness. Therefore, it is important for creative directors to have a vision of the brand and stick to it. This is where creativity is important. In a brand, creativity represents the action of continuous innovation and the implementation of new ideas, and is also the most essential skill that should be used when launching a product (Custom Boxes, 2020).

Reference list

Amed, I., Andre, S., Balchandani, A., Berg, A. & Rolkens, F. (2022) The State of Fashion 2023: Holding onto growth as global clouds gather. Available at: https://www.mckinsey.com/industries/retail/our-insights/state-of-fashion (Accessed 21st October 2023)

Custom Boxes (2020) Importance of Creativity in the Cosmetic Industry. Available at: https://customboxesdesign.mystrikingly.com/blog/importance-of-creativity-in-the-cosmetic-industry (Accessed 21st October 2023)

Grand View Research (2023) Cosmetics Market Size, Share & Trends Analysis Report By Product (Skin Care, Hair Care, Makeup, Fragrance), By End-User (Men, Women), By Distribution Channel, By Region, And Segment Forecasts, 2023-2030. Available at: https://www.grandviewresearch.com/industry-analysis/cosmetics-market#:~:text=Report%20Overview,4.2%25%20from%202023%20to%202030 (Accessed 18th October 2023)

Walter, A. (2020) Charlotte Tilbury takes online shopping to new heights. Available at: https://www.beautydirectory.com.au/news/digital/charlotte-tilbury-takes-online-shopping-to-new-heights (Accessed 21st October 2023)

Image Reference List

Grand View Research (2023) Cosmetics Market Size, Share & Trends Analysis Report By Product (Skin Care, Hair Care, Makeup, Fragrance), By End-User (Men, Women), By Distribution Channel, By Region, And Segment Forecasts, 2023-2030. Available at: https://www.grandviewresearch.com/industry-analysis/cosmetics-market#:~:text=Report%20Overview,4.2%25%20from%202023%20to%202030 (Accessed 18th October 2023)

Mintel (n.d.) Market Sizes. Available at: https://marketsizes-mintel-com.arts.idm.oclc.org/ (Accessed 21st October 2023)

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People

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People is the pillar in the cosmetics industry which focuses on the relationship between a company and its consumers. At the present time, Generation Z is the generation that has a huge impact on the industry, which is due to their values that differ to the previous generations (McKinsey & Company, 2023).

According to Priporas et al. (2017), the members of Gen Z have a different behaviour compared to earlier generations. There are four factors that can define generation Z as customers:

  1. An interest in new technologies
  2. An insistence on ease of use
  3. A desire to feel safe
  4. A desire to temporarily escape the reality they live in

These four factors have been created due to the political, social, technological, and economic changes this generation has faced.

As an outcome of generation Z having different customer needs, it is important for companies to conduct research and look at different trends. Figure 1a shows the employer branding process, which is a company’s outward message about who they are and what their goals are, as a brand.

Figure 1a: The employer branding process (Lybrand, 2018)

One way a brand can attract Gen Z is by focusing on diversity – as mentioned earlier, this generation focuses on the desire to feel safe; which relates to the fact that one of this generation’s main focuses is diversity, which includes many dimensions, such as race, gender, religion, identity and sexual orientation (Pandita, 2021). Figure 1b shows a graph asking Gen Z and Millennials how important it is to them that a fashion brand shows it is pro-equality and pro-diversity.

Figure 1b: The importance of brands showing that they are pro-equality and pro-diversity

A beauty brand that has responded to diversity is Kohl Kreatives. Trisha Daswaney, the founder of Kohl Kreatives, has been bullied as a teenager. Makeup was an activity that helped her boost her self-esteem, which is what inspired her to start her own beauty brand. One of the brand’s goals is to help other individuals that struggle with low self-esteem and disabilities, and even help transgender individuals that are currently going through their transition (Baird-Murray, 2020).

Creativity and critical thinking are two key skills for a successful cosmetics brand. Creativity is important in order for a cosmetics brand to be successful as employees can come up with different ideas, leading to the development of an innovative cosmetic product, leading to the attraction of more customers. Critical thinking is also an essential skill as it allows for individuals to analyse information and to decide validity of said information and other statements (Lunt et al., 2001).

Reference List

Baird-Murray, K. (2020) 5 Brands That Prove Inclusivity Is More Than Just An Extended Foundation Range. Available from: https://www.vogue.co.uk/beauty/article/inclusivity-brands-beauty-industry (Accessed 14th October 2023)

Lunt, B.M. and Helps, C.R.G. (2001) Problem solving in engineering technology: Creativity, estimation and critical thinking are essential skills. In ASEE Annual Conference & Exposition (Vol. 803, pp. 1-9). Available from: https://www.researchgate.net/profile/Richard-Helps/publication/268259349_Problem_Solving_in_Engineering_Technology_Creativity_estimation_and_critical_thinking_are_essential_skills/links/551ad90f0cf2fdce843829c6/Problem-Solving-in-Engineering-Technology-Creativity-estimation-and-critical-thinking-are-essential-skills.pdf (Accessed 14th October 2023)

McKinsey & Company (2023) What is Gen Z? Available from: https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-gen-z (Accessed 13th October 2023)

Pandita, D. (2021). Innovation in talent management practices: creating an innovative employer branding strategy to attract generation Z. International Journal of Innovation Science, 14(3/4), pp.556-569. Available from: https://www.proquest.com/docview/2716495604?fromopenview=true&pq-origsite=gscholar  (Accessed 13th October 2023)

Priporas, C.V., Stylos, N. and Fotiadis, A.K. (2017). Generation Z consumers’ expectations of interactions in smart retailing: A future agenda. Computers in human behavior, 77, pp.374-381. Available from: https://www.sciencedirect.com/science/article/pii/S0747563217300729 (Accessed 13th October 2023)

Image Reference List

Drapers (n.d.) Gen Z and Millennials. Available from: https://www.drapersonline.com/guides/gen-z-and-millennials (Accessed 14th October 2023)

Lybrand, S. A. (2018) Employer Branding: A Guide to Getting Started. Available from: https://www.linkedin.com/business/talent/blog/talent-acquisition/employer-branding (Accessed 14th October 2023)

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Planet

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Planet is one of the four pillars in the cosmetics industry. This pillar is related to sustainability and the focus on the different practices used in this industry in order to reduce its impact on the environment through different ethical practices. The beauty industry is one of the biggest contributors to global warming; with it wasting around 120 billion units of packaging per year.

The circular economy (CE) refers to an economic system that is based on the reuse and regeneration of materials or products, especially as a means of continuing production in a suitable or environmentally friendly way. This system is important in the cosmetics industry as different brands are aiming to improve their environmental sustainability through new integrated strategies, using the concepts of CE. Research shows that to the majority of the population, the CE is defined as a combination of reduce, reuse and recycle activities. (Morea et al., 2021) A circular economy is based on four principles, which are: limiting waste, reuse where possible, recycle, and recover to turn waste into resources. This economic system can be very beneficial to the environment as it helps different cosmetic brands to reduce the demand for virgin raw materials and leave room for models of reuse and recycling of products, therefore helping to minimise the environmental impact that is caused (Morea et al., 2021).

Figure 1a: Diagram showing the sustainability in the cosmetics industry

In relation to cosmetics, sustainability refers to beauty companies ensuring that they follow ethical practices in order to reduce their negative impact on the environment. Furthermore, it is important for cosmetic brands to ensure that their products are manufactured using natural and eco-friendly ingredients that are produced from renewable raw materials (Hitce et al., 2018). The majority of companies that have prioritised sustainability have claimed to surpass their competitors due to their improved reputation and consumer satisfaction which has resulted from the use of resources efficiently, and by reducing the amount of wasted products and ingredients (Rocca et al., 2022).

Life Below Water is a SDG that has relevance and an impact on the cosmetics industry. This goal focuses on conserving and sustainably using the oceans, seas, and marine sources. Marine pollution is currently at very high levels, with over 17 million metric tons clogging the ocean in 2021, and with a pH average of 8.1 (United Nations, 2023). The cosmetics industry is one of the biggest contributors to marine pollution; this is due to the fact that plastic is often used in the packaging of different cosmetic products. When disposed, this plastic will end up in the ocean, which will not only affect the marine life, but also humans. This is because toxic microplastics can get into the bloodstream of any organisms, which can block the transportation of oxygen around the body (Barton et al., 2021).

Reference list

Barton, S., Eastham, A., Isom, A., McLaverty, D., and Soong, Y.L. (2021) London: Royal Society of Chemistry. Introduction to cosmetic science. 10.5 Do Cosmetics Pollute the Oceans? Available from: https://www-vlebooks-com.arts.idm.oclc.org/Product/Index/2086261?page=0&startBookmarkId=-1 [Accessed 7th October 2023]

Hitce, J., Xu, J., Brossat, M., Frantz, M. C., Dublanchet, A. C., Philippe, M., & Dalko-Csiba, M. (2018). UN sustainable development goals: How can sustainable/green chemistry contribute? Green chemistry as a source of sustainable innovations in the cosmetic industry. Current Opinion in Green and Sustainable Chemistry, 13, 164-169. [Accessed 1st October 2023]

Morea, D., Fortunati, S., & Martiniello, L. (2021). Circular economy and corporate social responsibility: Towards an integrated strategic approach in the multinational cosmetics industry. Journal of Cleaner Production, 315, 128232. [Accessed 29th September 2023]

Rocca, R., Acerbi, F., Fumagalli, L. and Taisch, M., (2022) Sustainability paradigm in the cosmetics industry: State of the art. Cleaner Waste Systems, p.100057. [Accessed 6th October 2023]

United Nations (2023) The Sustainable Development Goals Report 2023: Special Edition. Available from: https://unstats.un.org/sdgs/report/2023/?_gl=1*1mg145*_ga*ODg1NTQxOTUwLjE2ODcwMTUzNDA.*_ga_TK9BQL5X7Z*MTY5NjcwNTMzMC41LjAuMTY5NjcwNTMzNS4wLjAuMA.. [Accessed 7th October 2023]

Images reference list

Figure 1a: Cosmetics Europe (2017) Environmental sustainability in action. Available from: https://cosmeticseurope.eu/news-events/environmental-sustainability-action [Accessed 4th October 2023]

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My favourite cosmetic brand

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My favourite cosmetics brand is Too Faced. I really like their packaging; a lot of their packaging consists of mainly pink and bright colours, which I consider interesting to look at, and for me this makes doing my makeup a much more fun process! Furthermore, they are a cruelty-free brand, which is good for the environment. I am a big fan of their Cloud Crush blush and their Lip Injection lip gloss!

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