The beauty industry is booming. With super-growth taking place both online and in physical stores, it’s not just brands driving marketing initiatives and the never ending thirst for the new, it’s the ever increasing demands and insights of the consumer
Powered x Beauty Buddy foresaw the trend for the intellectualising of power data, launching their beauty-centric app in response. Download and it employs a Smartphone as a review service for the consumer and a data detective for brands. With the continued eagerness for consumers to experiment and try new beauty brands, journeying down the beauty laden path in search of life-changing products, there’s never a shortage of real reviews and first hand analysis. Fact: did you know that 94% of shoppers read online reviews before making a purchase?
With this in mind, it’s no surprise the most successful and agile brands are placing the value of quality and quantitative data at the core of their business strategies. Doing so, not only benefits them in the best way to understand their consumer’s needs and behaviours, but optimises opportunities to progress new product development and approaches, ensuring they hold – and crucially keep, a stronger standing in their marketplace, giving all important relevance. Big data can literally be gold dust to brands.
Make no mistake, when data is sparse or little more than an afterthought in a brand’s policy, it makes it challenging to innovate and advance. Consumer’s mindsets are forever evolving, and creatively businesses can find themselves lagging behind within a short space of time if openings are not tapped into. One beauty industry trend that revolutionary data has been of value for is ideation in product and service personalisation. Both have been shown to increase a brand’s revenue and status hierarchy in a trend-driven and competitive area.
‘The confusion of choice when shopping for a foundation brush with my business partner led to the birth of Beauty Buddy. We could see the significance of an app that delivered not only authentic reviews for the customer, but as entrepreneurs, the bigger picture with the value of providing brands with powerful and significant digital data. Traditionally, disruptive data was chiefly gathered from market research companies at a sizeable cost, but our data analytics has reshaped the way insights can be accessed in a more affordable way. The data is laser-focused and sourced through the consumer review app simply by scanning the barcode, providing a gateway to timely and unique consumer and product intel. We can present a brand data analysis based on granular demographics, skin tone, hair type, eye colour, right down to an individual’s most must-have and wants products and buying habits. It’s an absolute game-changer, allowing brands to adjust to consumer demand more effectively than ever before.’ Wendy Slattery, Co-founder of Beauty Buddy
Powered x Beauty Buddy is a data analytics company that has created a completely independent beauty-centric app that can power brands with the following:
- Identify opportunities for sales growth
- Categorise product market fit
- Insight on fast moving cultural trends and mindsets
- Provide real reviews and honest ratings from an independent and hyper engaged community
- Use to create alternative or completely new product offerings
- Develop targeted pricing strategies to serve emerging target demographics
- Utilised to inform on packaging design and shipping presentation
- Insights on audience intelligence via the app’s Sampling Squad – a diverse and engaged community of beauty lovers
- Provides data reports on retailer insights along with competitor analysis and comparison
- Helps implement strategic plan development for ‘early adopter brands’ to educate about their audience on behaviours and wants
- Helps gain insight into new and undeveloped markets
- The use of UGC to further brand awareness
- Directs the brand’s social responsibility initiatives with emotionally driven feedback – especially useful for those wishing to target Gen Z buyers
- Helps understanding consumer interest in transparency and sustainability
- Serves as a cost-effective business tool with understandings in real time to compete for market share
‘We sample with Beauty Buddy every month – the interaction with the brand and the uplift in sales has been significant. The power of the Zoom call, getting to meet the customers who are using our products and answering their questions keeps us connected. The team at Beauty Buddy makes this an easy, valuable and enjoyable experience.’ Suzanne Good, HUMAN + KIND