For most women, buying a new beauty product is an exciting and happy experience. So, it’s not surprising that beauty is the category in which women say they are most likely to splurge on themselves.
Women who spend as much as they can on their beauty needs report feeling happier, less stressed, and more satisfied with their lives. They also report feeling more successful and powerful. Successfully marketing to women is a combination of fulfilling tangible needs, engaging women intellectually, and appealing to that which is uniquely feminine – the emotions!
Despite the fact that consumers have tightened their belts for a spell, the good news is that we continue to see women spend on inexpensive luxuries like skin care and cosmetics, especially nail lacquer and lipstick.
Never in the history of cosmetics has color been more important to women than now. I believe for many women stressed by juggling life’s challenges, color, especially colored cosmetics, offers them a welcome break and makes them feel renewed and revived.
It is a remarkable time of opportunity in the beauty industry. Companies that serve women by meeting their needs are poised to profit well into the future. Why? There are several reasons:
• The 1 billion working women across the globe will continue to gain economically and will drive fundamental changes in markets.
• Globally, women account for 47 percent of the students of higher education.
• Most women in developed countries are now as well educated as men.
• Women do more research than men before buying a product.
• Women are the major consumer spenders and the primary savers.They make or influence the majority of purchases for themselves and their families.
• A majority of women work, playing multiple roles as spouse, mother, caregiver, and household manager.
• Women long for more “me” time and seek timesaving products and services.
Clearly, women are busy, stressed, and longing to feel beautiful again!
While they are hardheaded household purchasing agents, women are still tenderhearted dreamers.What they want is realistic claims, backed by performance and value, plus brand identity and marketing that appeals to their feminine needs and desires.A tall order?Not if you focus on what women want!
Each time I develop a new product, I ask myself these questions:
Does this product meet a woman’s technical and functional needs?
Does it help her leverage her time?
Does it speak to her heart and engage her emotions?
Is this what women want?
It’s a great time to be in the beauty industry. No other industry has the ability to tap into the growing female economy by delivering on feel-good promises!
About the Author
Suzi Weiss-Fischmann is the Executive VP & Artistic Director of OPI Products Inc., the world leader in professional nail care. Suzi is known as the First Lady of Nails, because she single-handedly creates every OPI Nail Lacquer shade based on each season’s fashion and beauty forecast.Suzi knows the trends because she sets the trends. Her passion for fashion and instinct for color are part of what make her style sense so special – and the reason women around the world love OPI!Visit her beauty blog at www.suzisbeautyblog.com for tips on fashion, beauty, wellness, and more!
For more information about OPI, log on at www.opi.com