News

NPD’s Grant stresses four “P’s” at HBA Global Expo

BY DSN STAFF

NEW YORK Over the years, the beauty industry has undergone a great deal of change and going forward it will be critical that companies understand the four “P’s,” was a key message Karen Grant of the NPD Group had for attendees of her keynote address at this year’s HBA Global Expo held here this week.

The 15th annual event, produced by CMP Information, is a product development event and educational conference for the beauty, health and wellness industries. In addition to more than 40 educational sessions, the event features an exhibit floor that boasts more than 600 exhibitors. This year’s conference kicked off Tuesday with Grant’s State of the Industry address and wraps up Thursday at the Jacob K. Javits Convention Center in Manhattan.

During the presentation aptly titled, “Beauty: Through the Looking Glass of … Time,” Grant, a senior beauty industry analyst for the NPD Group, explained how the industry has changed over the years.

Today’s beauty shoppers have more choices than ever whether it be where they shop—specialty, drug store, mass or warehouse clubs—or which product they desire. As a result, customer loyalty is essentially a thing of the past.

In order for companies to successful tap into the beauty industry—which NPD Group estimates stands at $42 billion and grows at a rate of $1 billion annually—they must understand the four “P’s,” explained Grant.

  • Preferences: What kind of product information does she want? How does she want to receive that information? What products does she want?
  • Place: Where does she shop? For example, it is important to understand that many ethnic women will buy their beauty products at a beauty supply store.
  • People: Today’s society is very diverse and it is important to understand that different people have different preferences. It is not a one-size-fits-all.
  • Products: What claims should be on the product? What is the right messaging? What is the most effective marketing?
  • In addition to the sessions, the HBA Expo debuted a New Product Showcase, featuring new products from exhibitors ranging from the latest in skin care formulations to unique packaging design and matiarials.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

Which area of the industry do you think Amazon’s entry would shake up the most?
News

Man arrested in connection to Medicine Shoppe burglary

BY Drew Buono

FORT SMITH, Ark. One man was arrested last week in connection to a burglary at a Medicine Shoppe. Four others were arrested for either suspicion of a controlled substance or drug paraphernalia or both.

Michael Wayne Bruce was arrested on suspicion of commercial burglary and also possession of a controlled substance with intent to deliver, possession of drug paraphernalia and theft of a controlled substance, after police looked through surveillance videos and conducted several interviews.

The tablets, which are believed to be stolen oxycodone, were found inside the cars of three of the apprehended as well in as in a home of the other two.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

Which area of the industry do you think Amazon’s entry would shake up the most?
News

Safeway debuts solar-powered store

BY Doug Desjardins

DUBLIN, Calif. Safeway this week unveiled its first-ever “solar powered grocery store” in Dublin, Calif. on Sept. 13. Safeway said the one-acre network of solar panels on the rooftop powers the entire 55,000-square-foot supermarket. The company also noted that the store’s gas station is powered by wind energy.

Another chain using solar panels to power its stores is Costco. The chain has solar panels providing power at two of its stores in California and announced plans this week to install solar systems at four stores in Hawaii by the end of the year.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

Which area of the industry do you think Amazon’s entry would shake up the most?