This year’s PinkReport, TBC’s 10 Year Beauty Benchmark: (2006-2016) – A Consumer Love Affair with All Things Beauty, takes a retrospective look at how far beauty has evolved over the past decade, and what that evolution means to brands in terms of guiding marketing plans, devising customer acquisition strategies, and implementing loyalty programs.
The 2006 beauty consumer was pretty straight-forward. She had her preferred brick & mortar stores where she bought mostly well-known brands. She was a passive recipient of traditional advertising, which was influential to her decision to purchase, and she wasn’t as engaged with seeking out information online as she is today. Or for that matter, shopping online.
Fast forward to 2016 and it’s a whole new world for beauty buyers. Technological advances over the past 10 years have changed both how women shop as well as how brands communicate with them. The remarkable shift in retail channels and communication strategies has quite literally leveled the playing field for the way young Indie brands and global beauty giants alike vie for her attention.
Beauty consumers are savvier, more educated, and more engaged than ever before, and they are fundamentally changing how they approach and bond with brands and products, presenting the industry with an unqualified opportunity to be a part of this new dialog, and a major player in this entirely new landscape.
This 170-page report, created from survey data captured from 6,212 females (and then benchmarked against similar questions posed in 2006) shows how, when and why she shops now, which brands have moved the needle the most from 2006 to 2016, her price points and influencers, and what’s on her beauty horizon (that you need to know about) for the next 10 years!