The beauty and fashion industries account for huge portions of the consumer economy. Like any other, they’re evolving rapidly with the development of new retail models. In fact, whether or not you sell apparel or cosmetics, these industries happen to be treasure troves of valuable insight.
Key Insights in Beauty & Fashion
Recent research into the shopping habits of beauty and fashion shoppers has been highly informative regarding brand preference, the growing popularity of subscription and personal fashion services, the complex role of online retail, and more. Online shopping is a particularly hot topic when it comes to this segment of consumers. Preference between online and brick-and-mortar brands varies significantly depending on which particular products are being purchased, but it’s clearer than ever that the push and pull between bricks and clicks is as important a phenomenon in the beauty and fashion industry as in any other form of retail.
What All CPG Professionals Can Learn
Even if you’re not a retailer or vendor operating in cosmetics or fashion, there are lessons to be learned from how these industries contend with a changing economic environment. For one, fashion and cosmetics brands have always been strong in the area of brand identity as well as consumer engagement and experience. There’s much to draw from in this regard. Additionally, both fashion and cosmetics have seen increasing numbers of smaller, primarily web-based brands challenge the market share of dominant legacy brands. This is an issue that business in the CPG industry at large should watch carefully if they hope to navigate similar circumstances.
Your Next Move
So, whether you’re a fledgling online cosmetics business, a mid-sized chain of apparel boutiques with a web shop, or even a franchise of grocery stores, how will you apply these insights to your strategy? The key takeaway in the case of beauty and fashion has been the importance of modernization and adaptability. A major step, then, is to seek out high-quality data that tells you what the modern consumer expects from a modern business. With the evolving role of online retail and increasing demand for multi-channel branding and engagement, your brand will need nothing less than powerful, technology-driven market research solutions!
At Field Agent, we understand better than anyone how to extract high-quality insights from the sources that matter most. Check out our special report, The Model Shopper, to see what we’ve discovered about today’s fashion & beauty consumers. It could totally transform your efforts!