According to research by Mordor Intelligence, an India-based business management consultancy, the Asia-Pacific beauty and personal care products market is projected to grow at a compound annual growth rate of 6.38% from 2022 to 2027. Separately, NielsenIQ stats show that sales of beauty products surged during the 2021 holiday season, with him outperforming the 2019 holiday season sales by 28.1%. In 2021, sales across the U.S. beauty category will reach US$88.7 billion.
Undoubtedly, the beauty category is popular among consumers and will continue to grow, especially as markets open up and governments ease mask-wearing rules. Given how cluttered it can be, it can be difficult for brands to cut the clutter.
In fact, research from Wavemaker Malaysia’s data bank Momentum shows that it takes 55-65 days to strongly bias a brand in the Malaysian skincare category. It also takes 6 days for Malaysian consumers to move out of actively considering a purchase.
Biased consumers are five times more likely to convert than non-biased consumers. Statistics show that in Thailand and Germany a consumer is 21 times more likely to convert and he is 30 times more likely to convert, respectively.
In Malaysia, 17 consumer needs were identified that move consumers from priming bias to active buying stage. Some of these needs are essential entry points into the category, such as skin radiance and tone, while others provide white space and meaningful differentiation for brands.
So what should brands look for to dominate in this space?
1. Create a game plan for priming biases and active phases
According to Sheley Lim, general manager of Wavemaker Malaysia, a large launch with a short-term and intense investment in media has absolutely no effect on consumers who take the time to develop a positive brand bias. there is not.
Instead, brands in this category should match short-term focused bursts with stable, diversified investments for at least 60 days.
“Investing in creating compelling content beyond your primary TVC/launch assets is critical, but you can’t just blindly create for it either. Understand consumer media habits and buying journeys. It allows us to put our brand and content in the right place at the right time,” she explained.
In Malaysian consumer readiness, 9 of the top 15 touchpoints were undervalued, with 3 each acquired and owned. In the active phase, only 6 of the top 15 touchpoints were underpaid (and underranked), 5 were underearned, and 3 were underowned.
2. Leveraging Addressable Content
Creative content gets half the job done. The other half depends on high-impact delivery, and addressable media is advantageous because it brings the right content to consumers who are looking for it or need it most, at the right time and at scale. says Lim.
3. Combination of touchpoints
Brands can switch their media strategy by building a mix of touchpoints across the funnel and gradually increasing their investment in this mix, rather than the traditional approach of locking touchpoints into each phase. I can do it.
Citing an initiative with L’Oréal, Lim said the Malaysian team has transformed Facebook into an online event platform for eight luxury brands by integrating AI chatbots into Facebook Messenger. This means the brand has been able to lock the consumer in from awareness to consideration to conversion. Brands should also consider disrupting the traditional role of media to clear up confusion. According to Wavemaker, this works like a charm in traditional media that offer huge reach, but it’s also a bastion of convention.