The beauty industry is getting more and more competitive with each launch.
As a result, brands within it have to hone sharper points of differentiation to set themselves apart from the pack. Product claims involving ingredient sourcing, results and safety standards are crucial for those points of differentiation. However, unsubstantiated claims can get brands into trouble.
Denise Herich, co-founder of The Benchmarking Company, and Karen Yarussi-King, president of Global Regulatory Associates, recently participated in a Beauty Independent webinar series on the science of beauty sponsored by Codex Beauty Labs during which they talked about how founders can navigate murky claim waters.
According to Benchmarking’s data, consumers seek out products with compelling claims. Nearly 85% of female beauty buyers look for efficacy claims, and 86% conduct their own research on brands and their claims prior to heading to a store to buy a product or buying a product online. Herich says, “Consumers have a lot more time, so what are they doing? They are going online to research and reading more reviews and consumer claims for beauty and personal care products than ever before.”
Below, Herich and Yarissa-King delve into what beauty consumers are interested in, common mistakes brands make with claims, and the benefits of a global regulatory review.
CLICK HERE TO READ THE REST OF THE STORY.