6 minute read
25 competitor research
Competitor Analysis
Strengths Weaknesses • Minimalistic, stylish image • In-depth ingredient listing • No harsh ingredients • Luxury stockists with strong reputations • Natural benefits • Natural and organic certifications • No brand-owned stores • Products are not displayed on a wide range of skin tones • Shades are limited • The sales promotions distracts from their luxurious brand image • Depth of product description can be overwhelming for customers Opportunities (for B.E.A.M) Threats (to B.E.A.M) • As Kjaer Weis does not have any of its own stores there is room for a refillable makeup brand to establish a presence on the high street. • The product range of Kjaer Weis is relatively large. However, to reduce waste further there is an opportunity to combine features to create a more refined product range. • Kjaer Weis has a very cohesive modern aesthetic. In order to stand out in the market B.E.A.M must develop its own distinctive image. • The brand showcases their products through natural makeup looks. These can be easily replicated by the customer. B.E.A.M should consider the types of looks that will best communicate the product benefits. • Kjaer Weis has an advice-led approach from listing benefits of each product, to tutorial videos, and refill guide. B.E.A.M must consider how to offer similar value for the customer to make for a memorable brand experience. Refillables: Kjaer Weis
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Strengths • Accessible price point • Clear ethical brand values • Transparency • Customer-led • Experiential offerings • Eye-catching brand imagery • Global reach • Inclusive Opportunities (for B.E.A.M) • There is a gap in the market for a waste-free makeup range that has a more inclusive range of shades. • It is clear that there is an opportunity to develop a product that uses natural ingredients but has a larger shelf-life too. • Lush’s product packaging is very sustainable but it does not have the same aesthetic appeal as unsustainable alternatives. There is an opportunity to develop refillable product packaging that combines sustainability with style to encourage customers to invest in wastefree alternatives. • Socio-political affiliations must not become too overbearing so as to deter potential customers. Weaknesses • Limited shades of makeup • Not all makeup is waste-free • Strong political stance may alienate customers • Makeup products aren’t very aesthetically pleasing • Natural products have a limited lifespan
Threats (to B.E.A.M) • The competitive pricing structure of Lush means that B.E.A.M must offer a higher quality product to offer a better value proposition. • Lush has a very strong reputation for altruism, therefore it is paramount that B.E.A.M clearly communicates the ethical values than underpin the brand’s ethos in order to remain competitive. • Research shows that Lush has a lighthearted brand narrative that gives the brand a positive image. This means that B.E.A.M must carefully consider the most appropriate tone of voice to attract the target customer.
Refillables: Elate Strengths Weaknesses • Tailored customer offerings • Aesthetic represents values • Ethical actions • Unique sustainable packaging techniques • Strong customer bonds • Large product range • Does not own any stores • Products are not swatched on the skin • The brand does not use any model imagery • Huge product range can be overwhelming for customers Opportunities (for B.E.A.M) Threats (to B.E.A.M) • Elate miss out on opportunities to create experiences for their customers by not having stores. This is something B.E.A.M could work on to differentiate them. • Elate does not use model imagery which makes it difficult for customers to imagine how a product would look when applied. To boost online sales B.E.A.M should incorporate images of the product applied to a range of skin tones. • The seed paper packaging helps Elate reinforce their brand values while offering a unique touch to delight their customer. B.E.A.M must develop a promotional plan that delights customers to ensure a competitive edge. • Elate has a very accurate understanding of the needs of their customers, which allows them to tailor products and promotion. B.E.A.M needs to take the same approach to understanding customer demands and behaviour in order to offer a truly bespoke experience.
Figure 22: Lush Foundation Refill
Figure 23: Lush Concealer Refill
Figure 24: Elate Mascara
Strengths • Easy to buy gift sets to suit a friend’s features • Inclusive set of models • The founder has an existing reputation • Informative yet humorous blog • Products useful for travelling • Some products are refillable • Use ethical ingredients • Advice-led • Large product range • Questionnaire to find out customer needs Opportunities (for B.E.A.M) • Trinny London’s sustainable offering is fragmented as the ethical values haven’t been used across all products. This means that B.E.A.M must devise a more cohesive brand strategy to create a more clear narrative. • The brand is lacking in-store experiences.
In light of the current challenging climate for highstreet retailers it is paramount that brands offer engaging retail environments. Weaknesses • The amount of choice on the website can make it difficult for customers to make a decision • Only some products are refillable • Not all products are vegan friendly • The in-store makeup class experience is fairly conventional
Threats (to B.E.A.M) • The questionnaire that Trinny London uses to filter products for their consumers is an ingenious concept. It streamlines the online customer experience and the brand can use this data to understand their customer base better. B.E.A.M should look into innovative ways to collect customer data to enrich the marketing strategy. • The sophisticated way in which the brand’s products are selected means that customers can easily purchase gifts for a friend, therefore they have increased the potential for sales. B.E.A.M must be confident that we can facilitate all such purchaser requirements too.
Figure 26: Trinny London
Personalised: Giella Strengths Weaknesses • Detailed bespoke options • Lifestyle blog • Variety of experiential events • Option to connect with the founder • Hand-mixed production • Conscious ingredients • Expert advice in-store • Customer’s creations kept on record • US only stores • Difficult to receive same expertise as instore experience when purchasing online • Free samples with purchases are unsustainable as they increase the potential for unnecessary waste Opportunities (for B.E.A.M) Threats (to B.E.A.M) • Customers appreciate the customised advice from Giella’s makeup experts instore so this is something that should be incorporated into the website too. • Giella has scope to become more sustainable. To cater to the market needs brands should consider combining several trends, i.e personalisation and sustainability, to appeal to customer demands. • The artistry that goes into making
Giella’s bespoke products gives them a competitive-edge. This means that B.E.A.M must establish a niche offering to stand apart from competitors. • The various events that Giella put on provide a great communicative touch point for the brand as they can interact closely with their customers. Therefore, B.E.A.M should consider potential in-store experiences that could help to obtain this invaluable type of customer feedback.
Market opportunity:
combining bespoke cosmetics with sustainability
Bespoke
B.E.A.M
Unsustainable Sustainable
Generic
Figure 28: Kjaer Weis Logo Figure 29: Lush Logo Figure 30: Elate Logo Figure 31: Trinny London Logo Figure 32: Giella Logo 24 B.E.A.M bettering environment and mind
Market opportunity:
offering experiential store experiences within the luxury market
