Topicals has received wide praise since its launch in 2020, including winning Allure's Best of Beauty in 2023 and Women's Health 2023 Skincare Awards, among others. But the journey to get here has not been easy.
Estée Lauder and The Ordinary teams hope to learn anything and everything about TikTok Shop. The focus for now is on how to craft an effective model to drive their total EMV on the platform.
The primary opportunities are around sustainability and ingredient discovery. But secondary benefits include ingredient scalability, creating new or causing obsolete product categories, and, ultimately, a new lens with which to comprehend the art-meets-science that defines the beauty industry.
According to the National Retail Federation, holiday sales for 2023 are expected to increase 3-4% year-over-year to between $957.3 billion and $966.6 billion, which would be an annual sales record.
The strategies that have propelled Peach & Lily include a consistent focus on sustainable growth and profitability, a consumer-centric approach to events and retail, and product innovation, said Alicia Yoon, founder of Peach & Lily.
Dominating the conversations at Glossy’s annual Beauty and Wellness Summit last week were discussions around the importance of brand relevancy and differentiation, and organic communities.
Over the past three years, dupe products and the subsequent dupe culture have quickly ascended to become the boogeyman of the beauty industry, with duped brands concerned that customers will buy lower-cost duped items and erode their brand value.
On day one of the Glossy Beauty and Wellness Summit, taking place this week in Santa Barbara, beauty executives met for a town hall-style discussion on the biggest challenges they’re facing. All talk turned to three topics: TikTok Shop, beneficial brand partnerships and evolving retailer relationships.