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Delivering impactful results in beauty and private care
Driven with the resource of a preference for increased
personalization, clean splendor alternatives and a extra cognizance on
efficacy, the splendor and private care market has seen an blast of new
products come to market in modern years, and with it have come a number of
latest challenges.
L.E.K. Consulting has deep revel in within the splendor and
private care enterprise, partnering with groups in the course of the whole cost
chain at the manner to help our clients obtain their strategic goals. Our
customers in this location embody CPGs, skincare, colour cosmetics, fragrance
and haircare companies, in addition to beauty service providers (e.G., med spa,
salon, rubdown, aesthetics).
We artwork with various brands and groups, each mounted and
impartial or place of interest. We moreover have labored with forte issue
suppliers/vendors, formulators, packaging producers and settlement producers
that serve this area.
We are the marketplace chief in boom approach, and our
middle abilities in this area encompass operating with customers on M&A
method, acquisition shows, diligence, pricing approach, consumer activation,
corporate method, loyalty strategy (for company organizations), digital method,
supply chain / operational assist and sustainability. We use superior analytic
strategies to acquire truth-based insights and propose actionable strategies
that power impactful effects for our clients, permitting them to be extra green
and worthwhile.
Navigating the evolving beauty and personal care market
Our professional professionals have an in depth know-how of
key business stressful conditions in these days’s splendor and personal care
marketplace, and we inspire our clients to remember those key questions:
How are customer needs and product developments evolving in
these days’s market? What are the results for the way we develop our commercial
business enterprise?
How can we capitalize on key client tendencies towards
premiumization, hyper-customization and increasing element recognition (e.G.,
easy splendor)? What impact may also sustainability and cruelty-unfastened
traits have on price structures?
Does our logo positioning resonate with modern and ability
purchasers? Are we sufficiently leveraging our consumer touchpoints, which
consist of digital channels, to gain logo engagement?
How will we optimize our channel portfolio given shifts in
on line and subscription offerings? How will the shift towards forte shops have
an impact on our income?
With the continuing increase and emergence of unbiased
beauty producers, how should multinationals respond?
What is the effect of logo consolidation/acquisition with
the aid of multinationals on the splendor and private care price chain?
How will we optimize our pricing and promotional techniques
to maximize rate? How can we seize charge as customers hold shifting upmarket?
Are there adjoining products and classes that constitute
boom opportunities for our emblem or business enterprise? Where do thrilling
M&A possibilities exist, and what real belongings are we able to acquire?
What have to our sustainability technique be in slight of
evolving recommendations and customer desires? How will this impact our deliver
chain and our merchandise?
What is the white location in our provider enterprise (e.G.,
med spas, salons)? How many sites can the marketplace guide and wherein should
they be located?
Case examples: developing price in splendor and personal
care
To have a look at extra approximately how we assist clients
create fee within the splendor and personal care place, please discuss with
these insights and case examples:
A important skin care brand grow to be managing lagging
income inside the U.S. Regardless of typical market increase. The patron
engaged L.E.K. To conduct an extensive assessment of the emblem’s positioning
within the marketplace and the commercial enterprise agency’s sales and
marketing strategies.
We diagnosed underserved areas of the marketplace and
created tactical tasks for the employer to comprehend price. We optimized the
client’s U.S. Sales and marketing and advertising method, which includes
focused distribution channels, pricing, and profits pressure business
enterprise. The reputation on implementation supplied the consumer with a clean
route forward for destiny prolonged-term increase.
A major direct supplier of splendor, non-public care and
vitamins merchandise had traditionally lacked the technology for correct facts
seize on its specialists and give up clients.
Additionally, new patron engagement programs and product
lines had significantly changed business enterprise operations and,
consequently, statistics structure and productivity metrics. After imposing a
today's records control gadget, the customer requested
L.E.K. To use advanced analytics to offer insight into its
consultant/consumer base and pinpoint increase opportunities. This resulted in
hundreds of loads of lots of bucks of diagnosed boom capacity, as well as a
deep knowledge of the enterprise and the equipment/templates required to degree
typical performance going ahead.