Strategy Briefing

Multicultural Beauty: Benefiting from Diversity

Mar 2016

US$1,325

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About This Report

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Brands are increasingly segmenting offerings on the basis of ethnic and cultural needs, but the question is how are they developing such targeted solutions and what are the challenges? Do regional players with better understanding of indigenous market dynamics have greater competitive advantages over multinationals?

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

Understanding multicultural beauty

Multicultural beauty is being increasingly explored for future growth. This involves developing targeted lines and marketing strategies to target consumers from diverse cultural and ethnic backgrounds.

Growing demand influencers

Demographic shifts triggered by migration, flow of tourism, growing purchasing power of ethnic consumers in developed markets and urbanisation in emerging countries have been key demand drivers.

Multiple ways to target diversity

A key strategy is developing targeted marketing for the same product, highlighting the most relevant benefit to the target audience in order to optimise return.

Regional players show good performance

Some regional players have grown strongly thanks to their understanding of market dynamics. In recent years, they have also been expanding beyond their immediate markets.

Cultural influences drive innovation

Cross-cultural influence has become a major inspiration for innovation. South Korean beauty has been influencing brands globally, but mainstream brands are also incorporating exotic ingredients with strong health benefits.

More scope for growth

The segment is expected to witness more dynamism as technological developments help create a better understanding of diversity. More niche brands are expected to emerge as targeting diversity gains momentum.

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Introduction

Scope

Key findings

Understanding multicultural beauty

Targeting diversity next stage to driving growth in beauty

Segmenting multicultural beauty: Two broad categories

Key demand influencers

Ethnic diversity drives multicultural beauty in the West

Ethnic composition in the UK expected to grow by 2030

Growing tourism in developed markets inspires multicultural beauty

Tourists spend on super premium beauty

Urbanisation triggers change in lifestyle in emerging markets

Higher income, expanding middle class and growing affordability

Growing demand for personalised beauty solutions

Targeting multicultural beauty

Developing market penetration in emerging markets in stages

Adapting to relevant retailing channels

Tapping into consumer preference for online shopping in China

Selecting the right brand to suit market profile

Striking a balance between global vs local brand

Same product different positioning based on local preference

Aligning marketing campaigns to target consumers

Modifying formulations to include local ingredients

Halal positioning inspired by religion

Case study: Mauli Teli, founder of IBA Cosmetics, on halal beauty

Ayurvedic takes science-inspired positioning instead of religion

Ayurvedic beauty taps mainstream beauty in the West

Men’s grooming a lucrative segment in multicultural beauty

Customised product development to suit unique physical attributes

Case study: Eryca Freemantle on gaps in colour cosmetics

Competitive Landscape

Local players exert competitive pressure

L ocal players growing in sophistication

Improved business environment supports local players

Better quality supply chains help drive beauty business regionally

Case study: Maliha Mannan , founder Meena Herbal, on local players

Regional players seek global expansion

Global companies set up regional R&D centres

M&As of local players for competitiveness in multicultural beauty

Exotic beauty inspires innovation in the West

Conclusions

Cost benefit balance at the heart of multicultural beauty strategies

Growing global operation adds flexibility to portfolio

Recommendations to drive growth in multicultural beauty

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Megatrends

Strategy Briefing

Multicultural Beauty: Benefiting from Diversity

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Understanding multicultural beauty

Growing demand influencers

Multiple ways to target diversity

Regional players show good performance

Cultural influences drive innovation

More scope for growth

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

Understanding multicultural beauty

Targeting diversity next stage to driving growth in beauty

Segmenting multicultural beauty: Two broad categories

Key demand influencers

Ethnic diversity drives multicultural beauty in the West

Ethnic composition in the UK expected to grow by 2030

Growing tourism in developed markets inspires multicultural beauty

Tourists spend on super premium beauty

Urbanisation triggers change in lifestyle in emerging markets

Higher income, expanding middle class and growing affordability

Growing demand for personalised beauty solutions

Targeting multicultural beauty

Developing market penetration in emerging markets in stages

Adapting to relevant retailing channels

Tapping into consumer preference for online shopping in China

Selecting the right brand to suit market profile

Striking a balance between global vs local brand

Same product different positioning based on local preference

Aligning marketing campaigns to target consumers

Modifying formulations to include local ingredients

Halal positioning inspired by religion

Case study: Mauli Teli, founder of IBA Cosmetics, on halal beauty

Ayurvedic takes science-inspired positioning instead of religion

Ayurvedic beauty taps mainstream beauty in the West

Men’s grooming a lucrative segment in multicultural beauty

Customised product development to suit unique physical attributes

Case study: Eryca Freemantle on gaps in colour cosmetics

Competitive Landscape

Local players exert competitive pressure

L ocal players growing in sophistication

Improved business environment supports local players

Better quality supply chains help drive beauty business regionally

Case study: Maliha Mannan , founder Meena Herbal, on local players

Regional players seek global expansion

Global companies set up regional R&D centres

M&As of local players for competitiveness in multicultural beauty

Exotic beauty inspires innovation in the West

Conclusions

Cost benefit balance at the heart of multicultural beauty strategies

Growing global operation adds flexibility to portfolio

Recommendations to drive growth in multicultural beauty

Why buy this report?

Want to find out more about this report?

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