Trust you are doing awesome.
I just want to share this quick guide to rankings.
The quick rise of beauty and skincare in the past 10 years has filled the market with so many options to chose from.
If you are new to makeup and skincare, my guess is you are bombarded everyday by beauty brand messages promising heaven and earth soultions.
Instead of spending a long time sifting through brand promises, this short guide will help beauty brand owners and consumers make better decisions.Understanding the market demographic helps beauty companies adequately market their products to their target market.
These categorisation are:
MASS:Mass category is made up of inexpensive makeup and beauty products especially found at drugstores. These products are usually called 'Drugstore Brands'. Well known brands who have a wide assortment of products usually rely on their economies of scale to keep prices low.These products use cheaper ingredients and packaging to reduce manufacturing costs thereby keeping prices low.
PRESTIGE: These are higher priced products than what is found in drugstores.A lot of indie and lesser known brands fall into this category. The reason this category is experiencing a spike is that millennials are now aware of the benefits prestige brands offer.Terms like 'Clean beauty' 'handmade''Sustainable' and 'Environmentaly friendly' are used in this category. Prestige brands offer curated products that makes the consumer feel heard.Blot Beauty Cosmetics is priced in this category as it offers quality ingredients,packaging and high performance products that can stand at par to luxury brands.
LUXURY: This category is made up of highly priced brands. Widely known cosmetics brands have a section of their company that cater to this niche.These products are made with premium ingredients and come in elaborate or luxurious packaging.These products are retailed exclusively through the brand stores or exclusive e-commerce channel. What sets this category apart is that exclusivity and scarcity mentality that people believe that the product is above the reach of the regular Jane. Eg: Dior, Tom Ford
MASTIGE: This category is a mix of Mass and Prestige features.
Available in Drugstores
Clean beauty and Sustainable.
Many indie brands find themselves in this category as they wish to stay true to their brand ethos while at the same time being visible in drugstores and accessible to walk in customers.
Now that you know how these ranking is done,you will have an easier job identifying and segmenting for easy shopping.
Be sure you search our product offering and shop BLOT BEAUTY