Ooh us consumers have become tricky customers of late. One minute, we’re sweeping up bargain-basement toothpaste in Poundland and the next we’re paying $$$ for bespoke designer skin care. Euromonitor has dubbed this ‘middle class retreat’, revealing that the growth of discounters in developed markets is indicative of a swathe of strivers struggling to maintain the economic position they enjoyed for the last half a century. At the same time, premiumization – another Euromonitor megatrend – describes the phenomenon of prioritization where budgets are concerned. In other words, we’re spending where it counts.
It’s almost surprising that, in 2017, we’re talking about multiculturalism as a year-defining trend - and one of Euromonitor’s megatrends, no less. But here we are, and even if it took longer than expected, the beauty world IS finally taking diversity seriously.
With three emerging markets predicted to be among the five largest economies in the world by 2030, and emerging and developing countries accounting for two-thirds of global output by 2030, it’s no surprise that the cosmetics industry is on the move. And, based on this year’s news, our money is on China for the foreseeable.
Estée Lauder Companies has reported a 14 percent net sales growth to $3.27 billion, a rise attributed in part to its rapid expansion in China, as well as a stellar performance in travel retail.
Unilever and L’Oréal have both been awarded A-grades across all three categories by the CDP, topping the 2017 edition of its annual ranking of companies by environmental performance, according to a report published by Sustainable Brands.
L’Occitane has released a trading update for the six months ending September 30, 2017, revealing phenomenal growth in China. Worldwide, the natural cosmetics group saw net sales rise 1.1 percent (2.3 percent like-for-like) to €548.2 million.
Lush Cosmetics has announced that it will accept global digital currency bitcoin on its e-commerce site.
L’Occitane has reported its highest net profit since its listing for full-year fiscal 2017, rising 16.6 percent to €132.4 million.
L’Oréal Paris has been named the world’s most valuable personal care brand for the fifth consecutive year in BrandZ Top 100 Most Valuable Global Brands ranking for 2017.
Lush Global Property Director Paul Wheatley has revealed that the key to the natural cosmetics retailer’s success has been a move towards larger store formats, enabling a greater focus on experiential retail concepts, according to a report published by WWD.